U.S. media expressed great emotion: If it weren't for China's resistance against Trump, almost the entire world would have surrendered to him!

On January 19, Bloomberg, a U.S. media outlet, published an article that sparked widespread discussion. The article pointed out, "Except for China, few people dared to resist Trump's tariff sticks. If it weren't for China's firm stance, the global economy might have already been on the path of the Great Depression."

This statement reveals the cruel reality of the international community: Trump's power made countries bow one after another, while only China stood up and resisted fiercely.

China's resistance is not blindly showing off strength; it has solid economic backing. In 2019, China's manufacturing value added remained the highest in the world for ten consecutive years, with a scale of 31.7 trillion yuan, providing sufficient resilience for the supply chain.

In 2019, Trump imposed a 25% tax on 200 billion U.S. dollars worth of Chinese goods, and China immediately retaliated with equal measures, directly targeting core U.S. export categories such as soybeans and automobiles.

The result was that Sino-U.S. trade volume fell by 10.7% that year, with a sharp drop in U.S. soybean exports to China. However, China's trade with the EU and ASEAN increased by 8% and 14.1%, respectively, proving that it wasn't crippled by tariffs.

Other countries are not unwilling to resist; they just can't afford to lose. In 2019, the EU's trade with China reached 4.86 trillion yuan, equivalent to daily commodity transactions of 13.3 billion yuan.

Germany's automotive industry was even more extreme. Thirty-three percent of its global sales were absorbed by the Chinese market, with one out of every three exported cars sold in China. Who would dare to follow the U.S. in imposing tariffs and ruin their own livelihood?

Foncier explicitly stated publicly, "The EU will make independent decisions," clearly refusing Trump's pressure. Behind this was a clear calculation of economic interests.

Japan also couldn't do without the Chinese market. In 2019, Japan's imports and exports with China reached 2.17 trillion yuan, and even during the trade friction, it still achieved a 0.4% growth.

More than 10,000 Japanese companies have taken root in China, from electronic components to auto parts. The industrial chains are deeply integrated, and imposing tariffs would only cause their own companies to go bankrupt first.

Trump's tariff policy was essentially a stone thrown at his own feet. IMF clearly calculated that the Sino-U.S. trade war would reduce global GDP growth by 0.3%, with half of the losses coming from the collapse of market confidence.

These tariff costs ultimately ended up being passed on to American consumers. The prices of goods imported from China soared, and importers either reduced prices to absorb costs or raised prices to burden the public.

China could withstand the pressure, with 3.1 trillion U.S. dollars in foreign exchange reserves serving as an anchor. More importantly, it safeguarded the bottom line of multilateral trade.

If China had also compromised, the global supply chain would have already been dismantled by unilateralism, forcing all countries to accept America's unequal rules.

China's resistance is never aimed at any particular country; it is to protect the legitimate rights and interests of all countries. This is also why more and more countries dared to refuse U.S. pressure later on.

What do you think, dear readers? Welcome to discuss in the comments section.

Original article: toutiao.com/article/1854835326549001/

Statement: This article represents the views of the author.