Three highlights of the hottest Sino US economic a

2022-08-08
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On September 24, the office of the State Council of China issued the white paper "Ke Dongjie told reporters the facts and China's position on Sino US economic and trade frictions", which comprehensively explained the problems in Sino US bilateral trade, the differences in understanding between the two sides, the changes in the situation of transnational trade under the global and historical views, and the ways to resolve disputes, It points out the road map for China US trade to continue to "move forward rationally". It can be said that this white paper is an important display of Chinese wisdom and Chinese way on the road of "building an open world economy"

the white paper represents the position of the government. It stresses that the facts are clear, the position is clear, the writing is standardized, and the writing is concise. It is an internationally recognized official document. Half a year after the United States unilaterally provoked a trade war, China carefully combed the context, analyzed the root causes of the problem, and put forward targeted measures, showing due patience and highlighting the responsibility of a negative power. It is believed that with the passage of time, China's position on rising international prices, trade and economic cooperation and ideas for solving problems will be more and more understood

a prominent feature of this white paper is "honesty"

the white paper clearly stated that "since the establishment of diplomatic relations between China and the United States, bilateral economic and trade relations have continued to develop, and cooperation in trade and investment has yielded fruitful results, realizing complementary advantages and mutual benefit and win-win results. China has benefited a lot, and the United States has also benefited a wide range of huge economic benefits, sharing the opportunities and achievements brought by China's development". This is an accurate summary of the essence and overall picture of Sino US trade

there is no free lunch in the world, and the trade between the two countries has continued to expand. Naturally, each takes what it needs and is mutually beneficial. China has achieved economic development and improved people's livelihood, and the United States has received a large number of business opportunities such as cross-border investment and access to the Chinese market. The claim that only China benefits unilaterally is untenable

one of the highlights of this white paper is "settlement"

China acknowledges that "China US economic and trade exchanges are large in scale, rich in connotation, wide in coverage and involving multiple subjects". At the same time, "China and the United States have different economic development stages and economic systems", and it is normal for there to be friction and differences in the economic and trade field. To resolve differences and properly handle frictions, we must carefully analyze the economic structure and import and export structure of the two countries, and make a comprehensive and rational assessment of gains and losses

the white paper points out that "the United States lives in the middle and high end of the global value chain, and most of its exports to China are capital goods and intermediate goods, while China lives in the middle and low end, and most of its exports to the United States are consumer goods and Zui end products"; "Most of China's' high-tech products' exported to the United States are only labor-intensive processing links completed in China, including the import and international transfer value of a large number of key parts and intermediate products"; "From the perspective of trade subjects, according to Chinese customs statistics, 59% of China's trade surplus with the United States in 2017 came from foreign-invested enterprises". These facts and data show that China's trade surplus with the United States is not the same as the manufacturing value-added and trade value-added China has received

the trade balance of goods between China and the United States is the inevitable result of the structural problems of the U.S. economy. On the one hand, the domestic savings of the United States is insufficient, and the US dollar, as the main international currency, has formed an institutional demand for the trade deficit. On the other hand, China and the United States have different development stages, forming their respective industrial comparative advantages and different positions in the layout of international division of labor, forming a "national deficit" under the global industrial chain. In addition, the United States' export control of high-tech products to China has also expanded the trade balance

to solve the problem of Sino US trade balance, we also need to calculate a "new account". Since 2011, the WTO and OECD have advocated a new perspective of "global manufacturing" on international production, and put forward the method of "trade value added accounting" to analyze the actual status and benefits of countries' participation in international division of labor. If this method is used, they will have the opportunity to further increase China's trade surplus with the United States to $139.4 billion in 2016, a decrease of 44.4% compared with the traditional total value method

with the rapid development of today's society

through careful analysis, we can realize that China US trade exchanges are mutually beneficial on the whole, and differences and frictions can be resolved fairly and fairly. It is irrational and harmful for the trump administration to destroy the multilateral trade rules and the bilateral trade situation between China and the United States with an arbitrary attitude and reckless means

the strong support of this white paper is "national interests" and "win-win cooperation"

China is a beneficiary, contributor and defender of the multilateral trading system. After joining the world trade organization, China has made important contributions to the world economy in terms of market, employment, investment and industrial chain while realizing its own development. At the same time, China has also borne a large cost in environmental and industrial adjustment. The United States is also an important beneficiary of China's economic development

the destruction of the multilateral trading system by the current US government not only damages the win-win situation of global cooperation, but also harms its own interests. Facing the current situation, China unswervingly upholds the multilateral trading system. The white paper points out that China "adheres to the road of openness and accommodation, mutual benefit and win-win results, and builds an open world economy", while "supporting the necessary reform of the World Trade Organization"

in the face of the trade war that the United States insists on starting, China's attitude is very clear, that is, it is unwilling to fight, it is not afraid to fight, and it has to fight when necessary. This is an unswerving choice made by China from the perspective of safeguarding the interests of national and national development and the overall situation of world peace and development

we also expect that mature American politicians will eventually return to rationality, objectively and comprehensively understand China US economic and trade relations, correct misconduct in time, and return the handling of China US economic and trade frictions to the right track

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