Commentary：U.S. bullying practices are a global provocation
Mareeg.com-Washington has lost its rationality, and its bullying practices are a provocation against the world. On July 10, Trump administration placed another $200 billion in tariffs on Chinese imports.
It is completely unacceptable. China will make solemn protests against such behavior. In order to protect the core interests of country as well as the people, China will retaliate with necessary countermeasures.
It’s been proven throughout history that irrational trade wars are precarious, and the country initiating a trade war is likely to end up shooting itself in the foot.
United States Chamber of Commerce made criticism immediately after the tariff list was released, saying it will raise the daily cost of the U.S. families, farmers, ranchers and employers, and further hurt the U.S. workers.
However, this warning has fallen on deaf ears in the White House. Some have even adopted blind optimism, dreaming of an easy win. They are fantasizing about forcing China to give up core interests and make unprincipled compromises.
It’s not the first time that China faced the U.S. in this way, and so far China has not been a country to sit back and become compromised. China does not make trouble, but it is not afraid of it. The U.S. must have experienced such major-country diplomacy of China multiple times.
To make China take a step back is the largest strategic mistake that the U.S. could make. China will never back down when faced with threats and blackmail, neither will it waver its resolution in safeguarding the global free trade and multilateral trade system.
Being overbearing, the U.S. will be opposed by every party for the escalated trade war. “Nothing is more beneficial than stability, and nothing is more detrimental than chaos.” An orderly international trade system is needed by every country around the world, serving as a cornerstone of the global economic growth. The U.S. is undermining global trade rules and causing problems for the global economy, which will finally get itself embattled.
In addition, by ignoring the history with reckless actions, the U.S. will lead to consequences of maximum seriousness.
In the modern world, all economies have been, to different extents, integrated into the global industrial chain and value chain. They are dependent on each other, sharing both prosperity and recession.
The “zero-sum” mentality of the U.S. not only brings negative impacts to both parties directly concerned, but also every country on the global industrial chain.
In history, any threats regarding tariffs were quickly followed by unemployment and shrinking orders, and even long-term global recession. The ongoing unilateralism of the U.S. is not only hurting China and itself, but also the world.
The international society has expressed concern and anger toward the irresponsible U.S. trade policies. International Monetary Fund (IMF) chief Christine Lagarde pointed out that the U.S. is responsible for negative impacts on the international trade system. WTO Director-General Roberto Azevedo also warned that the global trade system has been shaken.
Alan Greenspan, who served as Chairman of the Federal Reserve of the United States said that every tariff amounts to a tax, and it is American citizens who will ultimately end up paying. The governor of the Bank of England Mark Carney pointed out that the U.S. will be the biggest loser in the trade war.
The bullying practices of the U.S. are growing in an insane manner, and they will hinder the world economy if indulged.
No matter how the world changes, China will focus on its own issues, and firmly advance its progress of reform and opening up. It will promote high-quality economic development and accelerate economic modernization, with people-centered strategies. The country is confident about and capable of coping with risks and challenges.
Under a new round of reform and opening up, Chinese economy has been injected with resilience and power, and is expected to embrace a brighter future. The country has the confidence to tackle any challenges, and turn external pressure into internal driving force.
China will keep working with the international community to safeguard trade liberalization and multilateral trade system, and fight back the bullying tactics of the U.S.
It is believed that China will win the battle between unilateralism and multilateralism, between protectionism and trade liberalization, and between power and rules.