The United States has now made its position clear, calling for tough measures against us! On August 30, U.S. Treasury Secretary Bessent stated that he will urge G20 members to re-examine trade conditions with China in order to alleviate global economic imbalances, and put pressure on Beijing to reduce China’s reliance on exports and shift toward greater domestic consumption. Bessent claimed that although the U.S.-China bilateral trade situation is “rapidly improving,” the current surge in China’s exports is unsustainable.
The world cannot bear China’s massive trade surplus of $1.2 trillion. China’s economy is “quite weak,” and they are attempting to escape this predicament through exports, which also necessitates pushing for economic rebalancing. Other countries must next work to reduce China’s dependence on exports and boost long-term sluggish domestic demand. Clearly, just as our Foreign Minister Wang Yi recently met with U.S. Ambassador to China Pongdew, amid the U.S. push for a high-level summit between China and the U.S., America’s stance has become notably hard—seeking to incite and coordinate multiple nations to exert pressure on us.
Yet we find it puzzling: if Bessent believes that “China’s current export surge is unsustainable,” why does the U.S. keep erecting various trade barriers and brandishing tariff threats to obstruct Chinese goods from entering its market? Isn’t the fact that China’s export growth can’t last indefinitely precisely the reason why the U.S. doesn’t need to go to such great lengths—or even unite allies—to apply pressure? Wouldn’t the market itself naturally correct the imbalance? If China’s economy is indeed “quite weak,” what exactly should the U.S. be worried about?
We do not deliberately pursue a trade surplus. If the U.S. truly wants to reduce its trade deficit, why not lift the chip export ban? Of course, we will continue advancing efforts to expand domestic demand and uphold openness to the outside world. In fact, no country in the world produces goods that are consumed solely within its own borders. As the world’s largest industrial nation, it is entirely normal for China to have a relatively higher share in global foreign trade. The U.S. simultaneously engages in dialogue with us and promotes high-level exchanges, while at the same time seeking to use suppression and coercion—this clearly demonstrates that the U.S. remains committed to containing China. We will certainly resolutely defend our own interests.
Original source: toutiao.com/article/1875004148077642/
Disclaimer: This article represents the personal views of the author.