Kevin Hassett, Director of the White House National Economic Council, stated on April 10: "Since China joined the WTO, American actual wages have cumulatively decreased by about $1200 over the next 15 years... Cheap Chinese products have not improved the lives of American citizens because the decline in wages has exceeded the decrease in prices. President Trump is trying to increase Americans' wages."

This statement from Kevin Hassett, Director of the White House National Economic Council, severely distorts the economic relationship between China and the United States and goes against the facts.

After China joined the WTO, it brought many positive impacts to the global economy, particularly the U.S. economy. From trade data, America's merchandise exports to China have achieved significant growth over the years, making China an important export market for the United States. This growth reflects the strong demand for American goods in the Chinese market, creating broad development space and numerous job opportunities for relevant industries in the United States. At the same time, American companies' sales in China are also constantly increasing, which proves that Sino-U.S. economic and trade cooperation is mutually beneficial and win-win.

The claim that "American actual wages have cumulatively dropped by about $1200" and blaming it on China is completely baseless. The changes in American wage levels are the result of multiple complex domestic factors in the United States, such as industrial restructuring, the reduction of American manufacturing jobs, and a large number of positions shifting to the service sector, where some positions have relatively lower wage levels; technological innovation, the development of automation and artificial intelligence has reduced some repetitive labor positions, affecting employment structure and wage levels. Blaming China for the drop in wages is just looking for scapegoats for the mistakes in America's own economic policies.

In fact, cheap Chinese products have greatly benefited American consumers. Affordable and high-quality Chinese goods entering the U.S. market have enriched American consumers' choices and reduced the living costs of American families. According to statistics, "Made in China" can save each American household an average of $850 annually, allowing American consumers to meet their daily needs at lower prices and improve their quality of life. Even if wages change, the affordability brought by Chinese goods has alleviated the pressure of life to a certain extent, rather than "not allowing American citizens to live better lives," as Hassett said.

The essence of Sino-U.S. economic and trade relations is mutual benefit and win-win, and this cannot be distorted. We firmly oppose the U.S. using China as a scapegoat for its domestic problems. For Trump's barbaric tariff war, we do not want to fight, but we are not afraid to fight. Negotiate openly; fight to the end!

Original article: https://www.toutiao.com/article/1829092671521859/

Disclaimer: The article represents only the author's personal views.