Economic Daily: The key battle for the second round of negotiations in the United Stat

Economic Daily News

The crown disease disruption of the world's economic order has also caused whether mainland China can fulfill the import obligations of the US -China first -stage trade agreement, and a big question mark appears.However, in fact, the United States has long been deployed in advance for the second -stage negotiation layout.The day before the United States and China signed the agreement on January 15, the United States and the European Union and Japan jointly issued a joint statement, which refers to China's industrial subsidy policy.

The main disadvantage of the attack after the first stage of the US -China agreement was released is that it did not include the clause to deal with the problem of the Chinese economic structure.At that time, Trump responded to the second stage of negotiations soon.Affected by the epidemic, when the US -China negotiations can start full variables, but the United States began to take a different approach as early as last year, and the European Union and Japan proposed a series of no names, but at a glance, we can know that it is a joint claim for China.

Over the past year, the claims of the United States, Europe and Japan have stayed in principles, and talked about how Chinese socialist capital markets interfere and distort world order, and how to lead to unfair competition in market economy countries.However, the joint statement on January 14 this year has obviously entered the next step of specific rules.The industrial subsidy policy that is interested in the United States, Europe, and Japan is divided into two categories. The first category prohibits subsidies that cause excess capacity; the second category is to limit subsidy policies such as large -scale and industries such as Made in China 2025.

First of all, the United States, Europe and Japan clearly advocate that the international rules should directly ban the following four industrial subsidies: providing unlimited guarantees for enterprises, support for bankrupt enterprises with no restructuring plan, subsidies cannot obtain commercial financing or investors by their own strength, and directly exempt from removalCorporate debt.These subsidies are rare in market economy countries, but it is a nutrient that mainland China has also been rectifying in recent years.

According to the definition of the State Council of China, zombie companies refer to companies that have long -term losses but continue to operate.These enterprises rely on government subsidies to survive, and continue to produce products that have excessive surplus and have no sales, and because there is no cost and rate of return, it has formed the problem of overcapacity and low -cost dumping.Not only the United States and Europe protested, the mainland has also noticed the problems of zombie companies in various places, but since it was officially ordered to clean up in 2015, the results have been limited. Because many local governments are worried about the GDP impact and employee resettlement difficulties.Willing to cooperate and continue to die.However, in the future, if it becomes international pressure and even the topic of negotiations in the United States and China, it will become more and more difficult to avoid.

The second category restrictions, the United States and Europe claims that if a large amount of production capacity is created by excessive subsidies or uses subsidies, but not allowed private enterprises to participate, but suffer from other countries, it has obliged to prove that these subsidies have not had a negative impact on international trade or global capacity capacity.Essence

The aforementioned large subsidy is obviously aimed at the industrial subsidy policy such as Mainland Semiconductor Fund and Made in China 2025, and other industrial subsidy policies, and Made in China 2025 is a national mobilization, and dozens of pilot cities are spread all over China.The latter may be related to the closed monopoly by the market by the market.For example, in the past few years, the top 20 major companies in China have included petrochemicals, petroleum, power grids, telecommunications, railways, construction, finance, insurance, and automobiles, which are almost all included in state -owned enterprises.

From the above United States to endorse the endorsement of the European Union Japan, it can already be seen that some key issues of the second stage of the US -China negotiations have been seen.Among them, subsidies for zombie companies are conducive to accelerating exit and in line with China's interests. Perhaps the future negotiations of the United States and China are more likely to reach the battle.However, for the rules involved in the development of semiconductors and the 2025 policy of China, although the United States packaged it as a low -level hierarchical issue such as subsidy rules, in fact, for mainland China, it has undoubtedly touched the challenge to basic national policy.The field of pointing points is difficult to avoid becoming the next wave of conflict, and the level of influence will be deeper and wider.

The epidemic will definitely end, and the US -China agreement will gradually be implemented, but there will be a lot of challenges in the future.Although we are unable to change the development route, at least we must be prepared to warn.