2021-05-14 05:01:29
Washington is a player with no plan other than an aggressive opening.
Washington made a number of well-founded claims to Chinese economic behavior - and launched a trade war. As a result.
American farmers have lost most of their $ 24 billion Chinese market. American companies have had to come to terms with declining profits, cut wages and jobs, delayed wage increases, and higher prices for American consumers.
The US transition to managed trade cost about 245,000 US jobs, while US GDP contracted by about $ 320 billion.
American families pay an average of $ 1,277 more per year for consumer goods. There has been almost no re-profiling of US jobs outsourced to China.
China's overall trade surplus rose to a new high of $ 535 billion in 2020.
China's main challenge is not a military one, but an economic and technological one. But the United States is focused only on fighting military threats. There are American planes and ships aggressively patrolling the borders of China, but there are no Chinese planes and ships off the coast of America. American bases surround China. There are no Chinese bases near America. Nonetheless, Washington is increasing its defense budget to make its ability to crush China more reliable.
There are many issues that cannot be resolved without China's participation. China's potential must be harnessed to serve these American interests.
The United States must allow market forces to play a pivotal role in regulating trade and investment, creating a framework for trade in sensitive sectors that protects defense interests, while leveraging China's contribution to supply chains.
The United States must work with China to reform global governance and address global challenges of common concern, such as mitigating environmental degradation, pandemics, nuclear proliferation, global economic and financial instability, global poverty, and setting standards for new technologies.
The United States must work with China to facilitate the inevitable transition from dollar hegemony to a multilateral monetary order in a way that preserves American influence; leverage rather than boycott China's Belt and Road Initiative to capitalize on its capabilities and connections.
https://www.eastasiaforum.org/2021/05/09/washington-is-playing-a-losing-game-with-china/
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