在线国产一区二区_成人黄色片在线观看_国产成人免费_日韩精品免费在线视频_亚洲精品美女久久_欧美一级免费在线观看

Global EditionASIA 中文雙語(yǔ)Fran?ais
Business
Home / Business / Policies

Trump's cheap trade remedies will lead America to dead-end: Commentary

Xinhua | Updated: 2018-04-04 17:31
Share
Share - WeChat

BEIJING - Despite strong opposition at home and abroad, Washington on Tuesday unveiled a China tariff list, a typical unilateralist and protectionist practice that will eventually lead America to a dead end.

China has condemned the policy and said it would take corresponding measures.

This is to be expected. The real problem in the United States is not the trade imbalance that the White House insists upon, but that the majority of ordinary people bear the brunt of constant painful economic adjustments while not getting the benefits.

In an essentially political move, US President Donald Trump is knowingly shooting the wrong target by imposing steep tariffs on $50 billion worth of Chinese imports. The protectionist policies will hurt most those Trump has claimed they will help.

Trump has cited perceived trade imbalances as the rationale for targeting Chinese exports, claiming that such policies would bring jobs back to the United States. However, the numbers, upon a more thorough examination, do not really support such a claim.

Deutsche Bank said in a recent report that when the sales of the Chinese subsidiaries of US multinationals are taken into consideration, the difference between trade flows in the two directions becomes modest.

Statistics from the US Bureau of Economic Analysis show the total sales of US firms in China was about $372 billion in 2015, comprising $223 billion by their subsidiaries in China and 150 billion dollars through exports from America to China. The $223 billion consist of nearly $171 billion of manufactured goods and $51 billion of services.

The number in the opposite direction was $402 billion in 2015, including mostly exports and a modest direct sales of $10 billion. The US has a clear advantage in sectors such as IT, chemicals and transport equipment.

The trade imbalance is also partly a result of accounting practices. Overall values of iPhones going to the United States are counted as Chinese exports, but most of the value-added goes to Apple in America and key component suppliers in Japan and South Korea.

Based on comparative advantage, trade generally leads to finer division of labor and increased productivity. Nevertheless, we have to acknowledge that trade in a certain single sector may produce winners and losers. In the United States, some industries are bearing the brunt of traditional jobs becoming obsolete faster and the painful adjustments.

However, in the big picture, international trade overall remains mutually beneficial. While the traditional sectors are facing challenges, jobs are being created in new sectors in the United States thanks to the expansion of the Chinese market.

Yet, something has indeed gone wrong. This is reflected in growing income disparity. A report by the Institute for Policy Studies, a think tank based in Washington, says the richest three people in the United States collectively hold more wealth than the bottom 50 percent of the US population.

The real problem is while the IT and financial giants harvested the benefits, the real income of the majority, including the middle class, has been stagnant.

It calls for strong leadership to make growth inclusive, but not strong in the sense of resorting to aggressive and cheap protectionist moves. Trump's policies will only make it worse, with or without the retaliations, which are to be expected.

Finally, it should be obvious that any attempt to curb the development of another country through unilateral trade aggression does not bode well. They are counterproductive and should not be tolerated.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 国产精品美女久久久久人 | 久久久精品免费看 | 国产精品片一区二区三区 | 国产高清视频一区 | 看亚洲一级毛片 | 国产一区二区三区免费 | 亚洲一区电影 | av黄色在线播放 | 国产福利观看 | 欧美一级二级三级 | 亚洲精品一区二区三区中文字幕 | 精品毛片 | 古典武侠第一页久久777 | 日本二区在线播放 | 在线成人亚洲 | 日韩精品网站在线观看 | 伊人网站| 成人网在线 | 国产wwwcom| 国产精品一区亚洲二区日本三区 | 欧美成人免费网站 | 国产91网址 | 草草视频在线播放 | 国产影音先锋 | 久久一日本道色综合久久 | 欧美日韩国产在线观看 | 妞干网免费在线视频 | 成人蜜桃视频 | 伦理午夜电影免费观看 | 天天躁日日躁狠狠躁av麻豆 | 日韩免费精品视频 | 成人一区二区三区在线观看 | 日本在线一区二区三区 | 免费一级淫片aaa片毛片a级 | 国产美女高潮一区二区三区 | 欧美日本韩国一区二区三区 | 国产视频三区 | 免费看的毛片 | 在线观看毛片视频 | 欧美精品三区 | 中文字幕一区二区三区四区 |