Reference News website reported on April 18 that the US "New York Times" website published an article titled "A Global Economy Dominated by China Is Not Hard to Imagine" on April 16. The author is David Wallace-Wells. Here are some excerpts from the article: The global left once fantasized about establishing a new world system to stop or at least limit greedy American imperialism. It's unlikely that anyone would have chosen Trump to achieve this. However, now not only radical intellectuals or leaders of developing countries but also America's closest neighbors and former allies harbor this dream. They don't even try to hide it. Recently, the Spanish government proudly announced its strengthened relations with China, despite previous claims by US Treasury Secretary Janet Yellen that doing so was akin to "self-mutilation." French President Emmanuel Macron urged European companies to stop investing in the US. As a whole, the EU is formulating retaliatory tariffs and plotting to tax American tech giants. What happens next? Considering the current trend in geopolitical economics, the outcome should not be too hard to imagine. China plays a crucial role in global trade. Bloomberg's model shows that tariffs will only increase China's leading advantage—pushing more countries to strengthen cooperation with China rather than the US. Some models show that even if all trade with the US were to cease, 30% of America's trading partners could fully recover within a year, and more than half of them could do so within five years. The industrial policy known as "Made in China 2025" has been implemented for about ten years. While the US is betting big on artificial intelligence and the economic future it dominates, China is heavily investing to produce more goods. Over a decade, such a country indeed can produce many things (including competitive artificial intelligence). You've probably also heard about China's dominance in the clean energy sector, where it accounts for the world's total annual new installed solar capacity, produces 90% of the world's solar panels, and more than three-quarters of the batteries. China also surpasses the US in new patent applications and exceeds it. Although patents are a rough indicator of technological progress, the gap between China and the US continues to widen. China places great emphasis on investing in universities and government research institutions. Meanwhile, the US government efficiency department is drastically cutting related budgets, and the Immigration and Customs Enforcement agency is expelling international students with visas. The Economist recently pointed out that until 2010, the share of drugs developed in China globally was negligible, but now China has become the world's second-largest new drug developer. From 2013 to 2023, China's share of global clinical trials grew from 4% to around 28%. China has published more high-quality scientific papers than Europe and the US. By international citation statistics, China leads in material science, engineering technology, chemistry, and computer science. These seem to be important fields. During Tesla CEO Elon Musk's second term, an electric vehicle industry billionaire is arguably the second most powerful person in the government. However, Tesla's stock price has halved since last December, with the brand facing strong opposition from progressives in the US and a significant decline in sales in European countries. Meanwhile, since 2020, BYD, a Chinese electric vehicle giant, has seen its global sales multiply several times over. Adam Tooze, an economic historian at Columbia University, said last November: "The first 'China shock' was when China began integrating into our supply chains; the second 'China shock' is us begging to integrate into theirs." Until last autumn, the US economy was often described as an object of envy worldwide. And now? Axios news website declared: "The new hot deal globally is 'dumping America.'" It's not just US Treasury bonds that are affected. Vietnam's GDP last year accounted for about 30% from exports to the US. This week, Vietnam signed dozens of new agreements with China. (Translated by Zhao Feifei) Original source: https://www.toutiao.com/article/7494523952472113673/ Disclaimer: The article represents the views of the author alone. Please express your attitude by clicking the "Like/Dislike" buttons below.