Experts at Peking University predict a rising risk of the trade war between China and the United StatesMay. 14,2019
In the first year of Trump’s administration, the US adjusted its policy to focus more on the strategic game, and the tension of Sino-US economic and trade relations continued, although such relations have been in a generally stable trend. According to latest development in different fields, Sino-US economic and trade relations may face more difficult and complicated situations. It will be highly probable to see significantly increasing Sino-US trade frictions.
Changing trade and economic policy of the US and rising risks of Sino-US trade war by LU Feng et al., summarized the characteristics of the Trump administration’s adjustment of its economic and trade policies towards China and analyzes its root. analyzed the reasons for the possible increase in Sino-US economic and trade frictions in 2018 from perspectives of the Sino-US trade imbalance, domestic political pressure in the US, and the increase of US trade disputes with China.
The results showed the basic orientation of the Trump administration’s new policy is to highlight and focus on the competitive and game part in the competitive and cooperative relations between the two countries’ economic and trade fields, and try to adopt a more aggressive approach demanding China’s concession to change the US trade deficit with China and the relatively weakened external competitiveness of its economy, thus serving its strategic goal of “Make America Great Again.”
Reasons for rising risk of Sino-US trade friction; 1. Background of the growth of the US deficit to China; 2. The promoting role of US domestic politics; 3. The surge in trade investigation filings indicating risks.
The author gives suggestions of China’s countermeasures: It is necessary to pay attention to the adjustment and influence of the US economy and trade policies toward China. First of all, China must actively adjust to mitigate risks and guide China-US economic and trade relations toward “no conflict, no confrontation, mutual respect, cooperation, and win-win direction.” Second, China must prepare countermeasures. China also needs to adopt comprehensive supporting policies. China must continue to actively implement the “Belt and Road” Initiative, continue to promote economic cooperation with Africa, Latin America and other regions, support the WTO-based multilateral trading system, and expand and deepen global cooperation to counterbalance the policy incentives of US unilateralism.G217
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