The largest trade war in history officially started on Friday (6th).Zheng Yongnian, director of the East Asia Research Institute of the National University of Singapore, said that from the long -term perspective, the loss of the United States in the trade war is greater than China.
From the U.S. tariffs on imported steel and aluminum products in March, to April announced the 301 investigation taxation recommendation product list involved in China's $ 50 billion (S $ 67.865 billion) exported productsThe entire Sino -US trade friction process has always been the United States and China.
Zheng Yongnian said in an exclusive interview with China News Agency yesterday (8th) that in the process of responding to the Sino -US trade dispute, China has always showed rationality and restraint, in order to avoid trade war & ldquo;
However, because the United States has repeatedly pressured and blackmail China, the trade war eventually broke out.Zheng Yongnian pointed out that considering that the United States is currently the largest export market in China, the United States may benefit more in the trade war in the short term.However, from the long -term perspective, due to unilateralism and protectionism, the United States launched a trade battle to affect its international status and national reputation, and the loss in the trade war greater than China.
At present, the United States' taxation on imported steel and aluminum products has caused strong resistance in the international community.EU and Canada's peer -counter -counter -measures have been launched; Russia has stronger attacks, and the tariff rate of tariffs for some goods in the United States is up to 40%.Japan and South Korea also appealed in US unilateral trade protection measures in the WTO (WTO).
Regarding the future direction of the trade war, Zheng Yongnian believes that both China and the United States will find new trade substitutions. The economic dependence of each other may decline to a certain extent, and even two relatively independent markets will be formed.The world economy and trade will form a new pattern, and may even cause changes in the global political pattern.
Over the past few decades, China has been opening up as & ldquo; strategic opportunity period & rdquo;.Some opinions believe that in the case of the trade war and the surgery of unilateralism and protectionism, China's challenges may be greater than opportunities.
However, Zheng Yongnian said that at this stage of China's economy, & ldquo; I have been able to create opportunities & rdquo;
He said: & ldquo; China does not need to panic & rdquo;; what China needs most now is to focus on our own business, promote openness with greater efforts, protect property rights, and promote technological innovation.
According to reports, a spokesman for the Chinese Ministry of Commerce reiterated on Friday that China will unswervingly deepen reforms, expand openness, protect entrepreneurship, strengthen property rights protection, and create a good business environment for companies in the world in China.
On the other hand, Zheng Yongnian said that the contradiction between the American politics and business circles and different interest groups was not & ldquo;& ldquo; The Cold War faction & rdquo; launched a trade war, intending to suppress and curb China's development; some industrial and commercial communities support the trade war, and hope to make China more open to the market.
He pointed out that there are essential differences in the above two purposes, and the strategy should be different.
Zheng Yongnian said: & ldquo; From a historical point of view, the White House listened to Wall Street instead of the Wall Street listening to the White House.& rdquo;
He reminded that in response to the trade war, China needs to be good at using the internal contradictions of the United States to implement a differentiation strategy, and at the same time use the broad market chip.
