US media: I just came back from China, we didn't win
Steven Rattner, a former Treasury official during the Obama administration, wrote in The New York Times that relying solely on tariffs or diplomatic measures is no longer sufficient to contain China. The US must respond to this strong competitor by improving its own industrial policies.
China has made rapid progress in areas such as manufacturing, artificial intelligence, electric vehicles, and drug development. Although China lags behind the US in the AI sector in terms of semiconductor chips, its power generation capacity is more than twice that of the US, and its advantage in electricity costs has helped its AI develop rapidly. The startup Manus was recently acquired by Meta at a valuation of $2 billion.
China is the world's largest exporter. Despite high tariffs, China's trade surplus reached a historical high of $1.2 trillion last year. In the electric vehicle sector, companies like Xiaomi have advanced technology, and Ford's CEO also admitted that Chinese vehicle technology is superior to that of the US.
Although China faces challenges such as a real estate bubble and insufficient consumption, its global manufacturing position remains solid, and it has made significant progress in emerging technology fields. The US needs to reassess its industrial policies, increase investment in sectors such as technology, rather than relying solely on tariffs and trade negotiations to deal with Chinese competition.
Original article: toutiao.com/article/1856753721035780/
Statement: This article represents the views of the author alone