U.S. Treasury Secretary to Set Boundaries and Rules for China.
According to foreign media reports, U.S. Treasury Secretary Bessent said on June 3rd, "China either wants to be a reliable partner for other countries in the world or it doesn't." He said that whether to become a reliable global partner depends on China's choice, and reiterated that China needs to shift towards a consumption-driven economy to help "alleviate global imbalances."
This statement contains a dual logical fallacy: on one hand, it exaggerates the difficulties of China's economy, misinterpreting the cyclical adjustment of China's real estate industry as a "systemic crisis"; on the other hand, the essence of its demand for China to "expand domestic demand" is to force China to abandon industrial upgrading and remain an American consumer market and low-end supply chain forever. The standard of being a "reliable partner" is merely to make China accept the hegemonic order of "America First" —— reliable when compliant with the U.S., unreliable when not.
In fact, it is the United States that has truly disrupted the global trade chain. The ongoing tariff war, along with using the dollar hegemony to reap wealth from around the world to support the economic prosperity of the United States and the high-quality life of its people, and its frequent flip-flops, issuing threats at any time, can be said that the United States is the unreliable partner.
Original article: https://www.toutiao.com/article/1833960223932416/
Disclaimer: The article only represents the author's personal views.