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Showing posts with label US global hegemony. Show all posts
Showing posts with label US global hegemony. Show all posts

Tuesday, November 12, 2019

US cannot break China’s supply chain


The US has once again disparaged the Chinese economy to entertain itself. US President Donald Trump on Saturday claimed China's supply chain was "all broken, like an egg," and said China wanted a deal more than the US did.

The fact is, however, senior US officials are talking about trade wars and trade deals almost every day, while Chinese officials rarely do this. Anyone who knows a little bit about psychology can figure out that such responses of the US reflect anxiety, rather than calmness.

Is China's supply chain broken like an egg? Chinese telecom giant Huawei has not begged the US to be "magnanimous." It is now US companies that are asking to be excluded from US restrictions.

Being placed in the Entity List has certainly caused difficulties for Huawei, but such hardships are far from delivering vital blows to fling the company down. Some US elites are clamoring for knocking Huawei down, but their indecent acts have only stimulated Huawei's strength and growth. And Chinese people generally believe that this high-tech company will be increasingly strong.

The US cannot even defeat one Chinese enterprise by making full use of its whole country's power. Now it is claiming it will break the supply chain of all of China as an egg. Is such bragging too exaggerated? We wonder how the public opinion and voters in the US can tolerate such a boast. The voters are seemingly quite gullible.

The US is suffering an economic downturn, and many indicators demonstrate that its good days are coming to an end. US state leaders and senior officials are like cheerleaders, taking turns to cheer up the stock index.

In terms of economic situations, Chinese officials' description is absolutely more objective and calm than the US side. China recognizes that the trade war has brought negative impacts, and our efforts to eliminate such effects are open and timely. The US, however, is trying to cover up the effects of the trade war it has launched.

China has already focused its efforts on solving its own problems. We will not bet on the idea that reaching a deal will fundamentally change China-US economic relations. Most Chinese believe that whether there is an agreement or not, turmoil between the two countries will not end. Chinese society is in favor of reaching a trade deal, but it is also patient.

Including Chinese companies such as Huawei in the Entity List will cause long-term damages to US business community's reputation. Foreign companies may be on guard against US enterprises in the future while building their own supply chains, which will certainly offer more opportunities for US competitors.

The US is so keen on imposing sanctions, and is fond of applying sanctions on related third-parties. Betting on US companies may work in a short term, but cannot serve as a long-term strategy. The US has trodden business ethics under foot in this round of China-US games. It is even pleased with itself for overtly destroying China's supply chain. At the strategic planning in the US, there are no such concepts like honesty and morality. The Chinese society has clearly observed this, as has the entire world.

Fortunately, China has the widest range of manufacturing sectors in the world, which has given the country a special strength in the global supply chain. China is not afraid of any game against the supply chain. Producers without China's supply chain will certainly feel more pain than China.

Source link


RELATED ARTICLES:

China, Huawei growth soars as Pompeo screams (new report)

US State Sec. Mike Pompeo has heaped unprecedented criticism on China’s government, saying it needs to be “confronted head on” and that it poses a threat to US national security. Sourabh Gupta, of the Institute for China America Studies joins Rick Sanchez to share his expertise. He argues that the US is “way too far ahead with its rhetoric” about China and that Pompeo’s attacks on Beijing are because the US “cannot compete” with China’s meteoric development.

https://youtu.be/K6W3LnFP8-8

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US cannot break China’s supply chain


The US has once again disparaged the Chinese economy to entertain itself. US President Donald Trump on Saturday claimed China's supply chain was "all broken, like an egg," and said China wanted a deal more than the US did.

The fact is, however, senior US officials are talking about trade wars and trade deals almost every day, while Chinese officials rarely do this. Anyone who knows a little bit about psychology can figure out that such responses of the US reflect anxiety, rather than calmness.

Is China's supply chain broken like an egg? Chinese telecom giant Huawei has not begged the US to be "magnanimous." It is now US companies that are asking to be excluded from US restrictions.

Being placed in the Entity List has certainly caused difficulties for Huawei, but such hardships are far from delivering vital blows to fling the company down. Some US elites are clamoring for knocking Huawei down, but their indecent acts have only stimulated Huawei's strength and growth. And Chinese people generally believe that this high-tech company will be increasingly strong.

The US cannot even defeat one Chinese enterprise by making full use of its whole country's power. Now it is claiming it will break the supply chain of all of China as an egg. Is such bragging too exaggerated? We wonder how the public opinion and voters in the US can tolerate such a boast. The voters are seemingly quite gullible.

The US is suffering an economic downturn, and many indicators demonstrate that its good days are coming to an end. US state leaders and senior officials are like cheerleaders, taking turns to cheer up the stock index.

In terms of economic situations, Chinese officials' description is absolutely more objective and calm than the US side. China recognizes that the trade war has brought negative impacts, and our efforts to eliminate such effects are open and timely. The US, however, is trying to cover up the effects of the trade war it has launched.

China has already focused its efforts on solving its own problems. We will not bet on the idea that reaching a deal will fundamentally change China-US economic relations. Most Chinese believe that whether there is an agreement or not, turmoil between the two countries will not end. Chinese society is in favor of reaching a trade deal, but it is also patient.

Including Chinese companies such as Huawei in the Entity List will cause long-term damages to US business community's reputation. Foreign companies may be on guard against US enterprises in the future while building their own supply chains, which will certainly offer more opportunities for US competitors.

The US is so keen on imposing sanctions, and is fond of applying sanctions on related third-parties. Betting on US companies may work in a short term, but cannot serve as a long-term strategy. The US has trodden business ethics under foot in this round of China-US games. It is even pleased with itself for overtly destroying China's supply chain. At the strategic planning in the US, there are no such concepts like honesty and morality. The Chinese society has clearly observed this, as has the entire world.

Fortunately, China has the widest range of manufacturing sectors in the world, which has given the country a special strength in the global supply chain. China is not afraid of any game against the supply chain. Producers without China's supply chain will certainly feel more pain than China.

Source link


RELATED ARTICLES:

China, Huawei growth soars as Pompeo screams (new report)

US State Sec. Mike Pompeo has heaped unprecedented criticism on China’s government, saying it needs to be “confronted head on” and that it poses a threat to US national security. Sourabh Gupta, of the Institute for China America Studies joins Rick Sanchez to share his expertise. He argues that the US is “way too far ahead with its rhetoric” about China and that Pompeo’s attacks on Beijing are because the US “cannot compete” with China’s meteoric development.

https://youtu.be/K6W3LnFP8-8

Related posts:

'We lied, we cheated, we stole', ‘the Glory of American experiment’ by US Secretary of State/Ex-CIA director Mike Pompeo


US ‘hegemonic tariff’ will not make America great again


Illustration: Liu Rui/GT US President-elect Donald Trump appointed Peter Navarro, a strident critic of China, as head of the new Nat...


https://youtu.be/gUR250IZyj0 China Has Not Manipulated the Yuan, PIIE's Bergsten Says https://youtu.be/WFhtHy3hZcg https://...
A profile photo of Peter Navarro Photo: IC ○ Navarro used the idea of the seven sins to criticize China, which showed his narrow and d...

As China continues to develop, so does its global influence. What would the future be like for South-East Asia with a ‘risen China’? Risi..

    Monday, July 15, 2019

    Trump is the biggest threat

    Not much help: Despite his use of tariffs to help skew the playing field in favour of US firms, the very industries Trump has tried to help have become the weakest links in the otherwise solid economy.

    WASHINGTON: At rallies and whistle-stop campaign tours, President Donald Trump proclaims a renaissance in US factories rebuilding the nation with “American steel”, “American heart” and “American hands”.

    But in reality, despite his relentless use of punitive tariffs to help skew the playing field in favour of US companies, the very industries he has tried to help have become the weakest links in the otherwise solid economy.

    With just over a year to go before he faces re-election, Trump takes credit for the most vigorous economy in the industrialised world, with the expansion entering its 11th year and historically low unemployment.

    But while services and office jobs dominate the US economy, Trump continues to promote the factory and mining jobs that were the lifeblood of the economy in the last century.

    “American steel mills are roaring back to life,” he declared last month in Florida – the same day US Steel announced it would idle plants in Michigan and Indiana until “market conditions improve”.

    And to West Virginians he said, “The coal industry is back.”

    But in fact each of the sectors Trump has championed – coal mining, steel, aluminium and auto manufacturing – have been buffeted by a combination of market forces and changing technologies – factors beyond his control – or damaged by the very things he did to protect them, economists and analysts say.

    Last month, a national survey of manufacturing activity hit its lowest level in nearly three years – narrowly avoiding slipping into contraction – while regional surveys have also seen record declines.

    In March, the number of workers in US manufacturing shrank for the first time in nearly two years and it is now growing more slowly than the rest of the American workforce.

    Trump has imposed tariffs on hundreds of billions in imports, renegotiated trade agreements and dangled the threat of worse over China and Europe and Mexico – all while publicly browbeating companies that close US factories or move production offshore.

    But weak foreign demand, a strong US dollar and a decades-long evolution away from domestic manufacturing have progressively shrunk America’s industrial sector, said Gregory Daco, chief US economist at Oxford Economics.

    Trump’s world trade war has not helped either.

    “The policies that have been implemented in terms of protectionism have hurt the very sectors they were meant to protect. There’s no escaping that,” Daco said. - AFP/The Star

    Read more


    China can effectively sanction US companies who sell weapons to Taiwan: experts

    The US is deploying a double standard by calling China's proposed sanctions on US companies for arms sales to Taiwan a "foolish action," Chinese mainland analysts said on Sunday, pointing out that the sanctions could not only cut base material supply to these companies including rare earths but also block their non-military products from entering Chinese markets.

    The Point: Chinese economic data reveals the winner of trade war

    https://youtu.be/iqExpwZh3TE


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    More people around the world see U.S. power and influence as a ‘major threat’ to their country


    The World Will Not Mourn the Decline of U.S. Hegemony In the global political landscape looms a superpower with a military and eco...
    Illustration: Liu Rui/GT US President-elect Donald Trump appointed Peter Navarro, a strident critic of China, as head of the new Nat...
    https://youtu.be/BgTKh4Rx-LI https://youtu.be/rD1EIaTh6_U After Huawei, U.S. blacklists Chinese supercomputers https://youtu.be...
    Uncertainty over the future of US-China economic relations has derailed the once high-flying global equity market, which rose almost 15 per .

    Trump is the biggest threat

    Not much help: Despite his use of tariffs to help skew the playing field in favour of US firms, the very industries Trump has tried to help have become the weakest links in the otherwise solid economy.

    WASHINGTON: At rallies and whistle-stop campaign tours, President Donald Trump proclaims a renaissance in US factories rebuilding the nation with “American steel”, “American heart” and “American hands”.

    But in reality, despite his relentless use of punitive tariffs to help skew the playing field in favour of US companies, the very industries he has tried to help have become the weakest links in the otherwise solid economy.

    With just over a year to go before he faces re-election, Trump takes credit for the most vigorous economy in the industrialised world, with the expansion entering its 11th year and historically low unemployment.

    But while services and office jobs dominate the US economy, Trump continues to promote the factory and mining jobs that were the lifeblood of the economy in the last century.

    “American steel mills are roaring back to life,” he declared last month in Florida – the same day US Steel announced it would idle plants in Michigan and Indiana until “market conditions improve”.

    And to West Virginians he said, “The coal industry is back.”

    But in fact each of the sectors Trump has championed – coal mining, steel, aluminium and auto manufacturing – have been buffeted by a combination of market forces and changing technologies – factors beyond his control – or damaged by the very things he did to protect them, economists and analysts say.

    Last month, a national survey of manufacturing activity hit its lowest level in nearly three years – narrowly avoiding slipping into contraction – while regional surveys have also seen record declines.

    In March, the number of workers in US manufacturing shrank for the first time in nearly two years and it is now growing more slowly than the rest of the American workforce.

    Trump has imposed tariffs on hundreds of billions in imports, renegotiated trade agreements and dangled the threat of worse over China and Europe and Mexico – all while publicly browbeating companies that close US factories or move production offshore.

    But weak foreign demand, a strong US dollar and a decades-long evolution away from domestic manufacturing have progressively shrunk America’s industrial sector, said Gregory Daco, chief US economist at Oxford Economics.

    Trump’s world trade war has not helped either.

    “The policies that have been implemented in terms of protectionism have hurt the very sectors they were meant to protect. There’s no escaping that,” Daco said. - AFP/The Star

    Read more


    China can effectively sanction US companies who sell weapons to Taiwan: experts

    The US is deploying a double standard by calling China's proposed sanctions on US companies for arms sales to Taiwan a "foolish action," Chinese mainland analysts said on Sunday, pointing out that the sanctions could not only cut base material supply to these companies including rare earths but also block their non-military products from entering Chinese markets.

    The Point: Chinese economic data reveals the winner of trade war

    https://youtu.be/iqExpwZh3TE


    Related posts:

    More people around the world see U.S. power and influence as a ‘major threat’ to their country



    The World Will Not Mourn the Decline of U.S. Hegemony In the global political landscape looms a superpower with a military and eco...
    Illustration: Liu Rui/GT US President-elect Donald Trump appointed Peter Navarro, a strident critic of China, as head of the new Nat...
    https://youtu.be/BgTKh4Rx-LI https://youtu.be/rD1EIaTh6_U After Huawei, U.S. blacklists Chinese supercomputers https://youtu.be...
    Uncertainty over the future of US-China economic relations has derailed the once high-flying global equity market, which rose almost 15 per .

    Tuesday, June 25, 2019

    The hegemonic anxiety of America First


    In the global political landscape looms a superpower with a military and economic might widely believed to remain unrivalled at least for decades to come.

    Yet it appears that in recent years the hegemon -- the United States, or specifically its national security apparatus -- has grown increasingly restless. It sees the irrevocable collective rise of the developing world as a threat and refuses to accept what is natural and inevitable. That bodes trouble for all.

    The peerless prowess that underpins the United States' leading role on the world stage stems from a combination of political, economic, geographical and other factors, including a grand vision that allowed it to work with others to establish the current international system.

    Yet that strategic sobriety has noticeably given way to a sense of superiority. Three decades of unipolar hegemony has induced a historically ill-founded but deeply entrenched belief in Washington that the United States is an exceptional country above all others, and international affairs should be managed in either the American way or no way at all. Its past success in nipping every serious challenger to its dominance in the bud has only deepened its complacency.

    But now with the unstoppable growth and ascent of developing countries, it appears destined that the U.S.-led West will have to share the stage with "the rest." Although the nascent shift is merely a logical outcome of history and does not cost Washington any of its legitimate interests, a self-inflicted anxiety is taking hold of what is called the national security state of America.

    Hawkish decision-makers and opinion leaders are drowning out reason and morality in the United States and fanning the fear that America is losing what it is entitled to. Upholding the banner of "America First," the current U.S. government has in a little more than two years shown the world how far it is willing to go in order to "make America great again," although the United States remains the sole superpower in today's world.

    Global trade is so far a major battlefront. In the eyes of incumbent U.S. policy-makers, the laws of economics and trade are nothing but a hoax, and any country that has a trade surplus with the United States is ripping it off.

    They have waged waves of tariff offensives against not only China, but also U.S. allies like the European Union, Japan, South Korea and Canada, slapping heavy levies on imported products ranging from steel and auto parts to toys and bikes, regardless of rising financial burdens on domestic consumers and businesses, and the rules of the World Trade Organization (WTO).

    Washington's assault on the rules-based multilateral global trading system is posing a serious threat to future global economic growth. Gita Gopinath, the International Monetary Fund's chief economist, warned in May that "the latest (tariff) escalation could significantly dent business and financial market sentiment, disrupt global supply chains and jeopardize the projected recovery in global growth in 2019."

    The high-tech realm has also witnessed the United States scrambling to secure its supremacy. However, it is trying to do so not by sharpening its own edges in fair competition, but by employing the state power to drive out competitors.

    Its unjustified crackdown on telecom equipment provider Huawei and other Chinese high-tech companies under the excuse of national security is reminiscent of its erstwhile plot against Japan's once booming semiconductor industry, and widely interpreted as an attempt to sabotage China's standard-setting capabilities in such key areas as the next generation of mobile communications and ensure China's permanent inferiority, at least in advanced technology.

    In the realm of geopolitics, Washington's hegemonic anxiety disorder has become even more conspicuous, especially in its policies on the Middle East and Latin America. In recent months, the United States has flirted with going to war against Iran and orchestrating a coup d'etat in Venezuela.

    Meanwhile, the current US government is seeking to reap the benefits of being what Martin Wolf, chief economics commentator at the Financial Times, called a "rogue superpower" while refusing to bear its due global responsibility. Its withdrawal from the Paris climate accord and the Iran nuclear deal has breached the global efforts to address many of the world's most pressing challenges.

    In the post-Cold War era, the West once believed that the world had entered a period of "Pax Americana," where the United States would act as a builder of a rules-based international order and a guardian of peace. However, three decades later, Western countries are disappointed to discover that it has become a big bully pushing the world toward "Chaos Americana."

    Given the high stakes, the international community, including the sober minds in America, needs to work together to help Washington make peace with the current historical trend. After all, every nation is part of the planet, every people is entitled to pursue happiness, and every country has the right to developing its economy and technology.

    As for Washington, it should, as US political scientist Joseph Nye has suggested, learn the importance of using its power with others, not just over others, in today's increasingly interdependent world.

    Source link 

    Hegemonic practices of US will finally lead to failure

    There's a proverb in the western world that self-knowledge is the most valuable knowledge. However, some US politicians, who are just not able to have a clear knowledge of themselves and the global situation, are still stubbornly following the outdated hegemonic approach.

    With the strategy of "America first", these US politicians have never cared about the interests of other countries or the common welfare of global citizens.

    They started the trade war under the excuse that the US is losing in its trade with China, but keep silent about the huge profits they have gained from the relationship. They make frequent statements that other countries have posed threat on US national security, but turn mute on their globally-reaching intelligence network. They strongly criticize international organizations such as the WTO, but make no mention of the fact that the US is a major founder and the largest beneficiary of the current global governance system.

    White House National Trade Council Director Peter Navarro even said bluntly that other countries dare not to take retaliatory measures against the US because of the great power of the latter. Such arrogance revealed what truly lies under the slogan of "Make America great again".

    The bullying and arbitrary practices of the US are supported by the hegemonic logic of the country that US rules apply to the whole world and other countries must compromise to ensure US interests.

    From the "economic aggression" theory by US Vice President Mike Pence, to the fallacy made by Navarro that Chinese commodities are mortgaging America's future, and to the statement of former White House Chief Strategist Stephen Bannon that exporting of Chinese excess capacity gutted the upper Midwest of the United States, these US politicians take normal economic exchanges as "nails" and wish to hammer them. They are not willing to see the Chinese people live in a well-off society just like Americans do.

    Under the banner of "America first", some US politicians just cannot keep a lid on their impulses and even started attacking their allies. Not long ago, Chancellor of Germany Angela Merkel expressed her views on the cracking foundation of the post-World War II order and the deterioration of trans-Atlantic ties. The US is becoming a rival of global countries.

    Why the US politicians are still dreaming about the "chosen nation" and "shining city upon a hill"? It's because they still believe in the old philosophy that might is right, and perceives the world with a "law-of-the-jungle" mentality. Besides, they are taking international relations as a "clash of civilizations".

    This explains why the US government always calls itself a monitor of global orders and a judge of international relations.

    With the irreversible trend of today's multi-polarization, economic globalization, cultural diversification and social informatization, the US is still considering itself a savior of the world and taking the globe as its "backyard garden" where it can act arbitrarily and do everything it wants to. It is even making attempts to stop the building of a community with a shared future with the so-called "America first" policy.

    At present, the US hegemony has aroused anger from across the world. Even some US enterprises are making adjustments in reaction to the pressure from the US government. A series of "made-in-America" companies including Harley-Davidson, Inc., have "escaped" from the US, and Exxon Mobil Corporation and Tesla are also building factories in China.

    However, the US hegemony is nothing but a wishful thinking. According to American scholar Stephen Roach, the US had merchandise trade deficits with 102 countries in 2018, which reflected the extreme insufficiency of the country's domestic savings - a situation caused by the rash approvals of budget deficit made by the congress and decision makers.

    Some scholars attributed the inequality in the US to its wrong policies, rather than economic globalization. Unfortunately, some US politicians made wrong prescriptions, and called other countries a barrier on the way to "make America great again".

    Blaming the others for its own mistakes, the US will miss the opportunity for self-improvement and hurt the country and people via the diversion of domestic contradictions.

    US scholar Robert Kagan argues that America's decline is being actively willed by unnamed "politicians and policymakers", and they are "in danger of committing pre-emptive superpower suicide out of a misplaced fear of declining power".

    No country in the world is willing to be manipulated by other countries in human history. Mutual respect, sincere cooperation and win-win benefits should be the principle held by each country when it comes to international relations.

    Of course, it's not easy for the arrogant US politicians to be aware of this. The bright side is that facts don't lie and speak louder than words.

    There is an idiom in China that ultimate power incurs humiliation. Any country that deviates from the path of win-win cooperation and sticks to zero-sum games, disobeys rules for fair competition and pressures others, and goes against the trend of economic globalization and resorts to conservatism will end up losing.

    Hegemony will only consume the power of a nation and accelerate the process of its recession. Such cases are just prevalent in history.

    Read more:

     Xi to hold meetings with world leaders at G20 summit -

    Summit could signal end to Pax-Americana: expert

    Chinese President Xi Jinping will hold multilateral meetings with leaders of BRICS countries, trilateral talks with leaders of India and Russia as well as meetings with leaders of African countries during the G20 summit in Japan from Thursday to Saturday, Chinese officials said


    China slams US 'Plan B' ahead of bilateral summit

    China on Thursday blasted US President Donald Trump's threat of additional tariffs on Chinese goods just days before a widely anticipated meeting between the leaders of the two countries at the G20 in Japan, striking a defiant tone over the US' bullying tactics and asserting that it is not afraid of "evil and pressure."

    China to uphold multilateralism, oppose protectionism at G20 Osaka summit

    China is ready to work with relevant sides to firmly uphold multilateralism, and oppose unilateralism and protectionism at the upcoming Group of Twenty (G20) summit in Osaka, Japan, said senior officials in Beijing Monday.

    Fighting protectionism G20's top task amid trade war

    Amid an impasse between the US and China, the G20 summit in Japan offers a platform where US President Donald Trump will be able to talk with Chinese President Xi Jinping, if all goes well. It is too early to predict the outcome, but the summit has rekindled hopes that the two sides may resume trade talks after negotiations to reach a broad deal left hanging last month.

    Fighting protectionism G20's top task amid trade war

    Amid an impasse between the US and China, the G20 summit in Japan offers a platform where US President Donald Trump will be able to talk with Chinese President Xi Jinping, if all goes well. It is too early to predict the outcome, but the summit has rekindled hopes that the two sides may resume trade talks after negotiations to reach a broad deal left hanging last month.

    US policies can cause global recession: expert 

    The US has increased trade conflict with China, and also Europe. What was the primary reason for Washington to start the trade dispute with them? Will China and Europe further expand cooperation to deal with US unilateral and protectionist behavior?

    Pompeo's role as troublemaker runs counter to diplomacy

    Having a secretary of state of this caliber is a tragedy of US politics and the sorrow of international politics. The world needs to be exposed to the damage Pompeo has brought to humankind's peaceful existence.

    Can US force multinationals out of Chinese market?

    American people will feel the pain if the world is deprived of China's huge market.


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    The hegemonic anxiety of America first


    In the global political landscape looms a superpower with a military and economic might widely believed to remain unrivalled at least for decades to come.

    Yet it appears that in recent years the hegemon -- the United States, or specifically its national security apparatus -- has grown increasingly restless. It sees the irrevocable collective rise of the developing world as a threat and refuses to accept what is natural and inevitable. That bodes trouble for all.

    The peerless prowess that underpins the United States' leading role on the world stage stems from a combination of political, economic, geographical and other factors, including a grand vision that allowed it to work with others to establish the current international system.

    Yet that strategic sobriety has noticeably given way to a sense of superiority. Three decades of unipolar hegemony has induced a historically ill-founded but deeply entrenched belief in Washington that the United States is an exceptional country above all others, and international affairs should be managed in either the American way or no way at all. Its past success in nipping every serious challenger to its dominance in the bud has only deepened its complacency.

    But now with the unstoppable growth and ascent of developing countries, it appears destined that the U.S.-led West will have to share the stage with "the rest." Although the nascent shift is merely a logical outcome of history and does not cost Washington any of its legitimate interests, a self-inflicted anxiety is taking hold of what is called the national security state of America.

    Hawkish decision-makers and opinion leaders are drowning out reason and morality in the United States and fanning the fear that America is losing what it is entitled to. Upholding the banner of "America First," the current U.S. government has in a little more than two years shown the world how far it is willing to go in order to "make America great again," although the United States remains the sole superpower in today's world.

    Global trade is so far a major battlefront. In the eyes of incumbent U.S. policy-makers, the laws of economics and trade are nothing but a hoax, and any country that has a trade surplus with the United States is ripping it off.

    They have waged waves of tariff offensives against not only China, but also U.S. allies like the European Union, Japan, South Korea and Canada, slapping heavy levies on imported products ranging from steel and auto parts to toys and bikes, regardless of rising financial burdens on domestic consumers and businesses, and the rules of the World Trade Organization (WTO).

    Washington's assault on the rules-based multilateral global trading system is posing a serious threat to future global economic growth. Gita Gopinath, the International Monetary Fund's chief economist, warned in May that "the latest (tariff) escalation could significantly dent business and financial market sentiment, disrupt global supply chains and jeopardize the projected recovery in global growth in 2019."

    The high-tech realm has also witnessed the United States scrambling to secure its supremacy. However, it is trying to do so not by sharpening its own edges in fair competition, but by employing the state power to drive out competitors.

    Its unjustified crackdown on telecom equipment provider Huawei and other Chinese high-tech companies under the excuse of national security is reminiscent of its erstwhile plot against Japan's once booming semiconductor industry, and widely interpreted as an attempt to sabotage China's standard-setting capabilities in such key areas as the next generation of mobile communications and ensure China's permanent inferiority, at least in advanced technology.

    In the realm of geopolitics, Washington's hegemonic anxiety disorder has become even more conspicuous, especially in its policies on the Middle East and Latin America. In recent months, the United States has flirted with going to war against Iran and orchestrating a coup d'etat in Venezuela.

    Meanwhile, the current US government is seeking to reap the benefits of being what Martin Wolf, chief economics commentator at the Financial Times, called a "rogue superpower" while refusing to bear its due global responsibility. Its withdrawal from the Paris climate accord and the Iran nuclear deal has breached the global efforts to address many of the world's most pressing challenges.

    In the post-Cold War era, the West once believed that the world had entered a period of "Pax Americana," where the United States would act as a builder of a rules-based international order and a guardian of peace. However, three decades later, Western countries are disappointed to discover that it has become a big bully pushing the world toward "Chaos Americana."

    Given the high stakes, the international community, including the sober minds in America, needs to work together to help Washington make peace with the current historical trend. After all, every nation is part of the planet, every people is entitled to pursue happiness, and every country has the right to developing its economy and technology.

    As for Washington, it should, as US political scientist Joseph Nye has suggested, learn the importance of using its power with others, not just over others, in today's increasingly interdependent world.

    Source link 

    Hegemonic practices of US will finally lead to failure

    There's a proverb in the western world that self-knowledge is the most valuable knowledge. However, some US politicians, who are just not able to have a clear knowledge of themselves and the global situation, are still stubbornly following the outdated hegemonic approach.

    With the strategy of "America first", these US politicians have never cared about the interests of other countries or the common welfare of global citizens.

    They started the trade war under the excuse that the US is losing in its trade with China, but keep silent about the huge profits they have gained from the relationship. They make frequent statements that other countries have posed threat on US national security, but turn mute on their globally-reaching intelligence network. They strongly criticize international organizations such as the WTO, but make no mention of the fact that the US is a major founder and the largest beneficiary of the current global governance system.

    White House National Trade Council Director Peter Navarro even said bluntly that other countries dare not to take retaliatory measures against the US because of the great power of the latter. Such arrogance revealed what truly lies under the slogan of "Make America great again".

    The bullying and arbitrary practices of the US are supported by the hegemonic logic of the country that US rules apply to the whole world and other countries must compromise to ensure US interests.

    From the "economic aggression" theory by US Vice President Mike Pence, to the fallacy made by Navarro that Chinese commodities are mortgaging America's future, and to the statement of former White House Chief Strategist Stephen Bannon that exporting of Chinese excess capacity gutted the upper Midwest of the United States, these US politicians take normal economic exchanges as "nails" and wish to hammer them. They are not willing to see the Chinese people live in a well-off society just like Americans do.

    Under the banner of "America first", some US politicians just cannot keep a lid on their impulses and even started attacking their allies. Not long ago, Chancellor of Germany Angela Merkel expressed her views on the cracking foundation of the post-World War II order and the deterioration of trans-Atlantic ties. The US is becoming a rival of global countries.

    Why the US politicians are still dreaming about the "chosen nation" and "shining city upon a hill"? It's because they still believe in the old philosophy that might is right, and perceives the world with a "law-of-the-jungle" mentality. Besides, they are taking international relations as a "clash of civilizations".

    This explains why the US government always calls itself a monitor of global orders and a judge of international relations.

    With the irreversible trend of today's multi-polarization, economic globalization, cultural diversification and social informatization, the US is still considering itself a savior of the world and taking the globe as its "backyard garden" where it can act arbitrarily and do everything it wants to. It is even making attempts to stop the building of a community with a shared future with the so-called "America first" policy.

    At present, the US hegemony has aroused anger from across the world. Even some US enterprises are making adjustments in reaction to the pressure from the US government. A series of "made-in-America" companies including Harley-Davidson, Inc., have "escaped" from the US, and Exxon Mobil Corporation and Tesla are also building factories in China.

    However, the US hegemony is nothing but a wishful thinking. According to American scholar Stephen Roach, the US had merchandise trade deficits with 102 countries in 2018, which reflected the extreme insufficiency of the country's domestic savings - a situation caused by the rash approvals of budget deficit made by the congress and decision makers.

    Some scholars attributed the inequality in the US to its wrong policies, rather than economic globalization. Unfortunately, some US politicians made wrong prescriptions, and called other countries a barrier on the way to "make America great again".

    Blaming the others for its own mistakes, the US will miss the opportunity for self-improvement and hurt the country and people via the diversion of domestic contradictions.

    US scholar Robert Kagan argues that America's decline is being actively willed by unnamed "politicians and policymakers", and they are "in danger of committing pre-emptive superpower suicide out of a misplaced fear of declining power".

    No country in the world is willing to be manipulated by other countries in human history. Mutual respect, sincere cooperation and win-win benefits should be the principle held by each country when it comes to international relations.

    Of course, it's not easy for the arrogant US politicians to be aware of this. The bright side is that facts don't lie and speak louder than words.

    There is an idiom in China that ultimate power incurs humiliation. Any country that deviates from the path of win-win cooperation and sticks to zero-sum games, disobeys rules for fair competition and pressures others, and goes against the trend of economic globalization and resorts to conservatism will end up losing.

    Hegemony will only consume the power of a nation and accelerate the process of its recession. Such cases are just prevalent in history.

    Read more:

     Xi to hold meetings with world leaders at G20 summit -

    Summit could signal end to Pax-Americana: expert

    Chinese President Xi Jinping will hold multilateral meetings with leaders of BRICS countries, trilateral talks with leaders of India and Russia as well as meetings with leaders of African countries during the G20 summit in Japan from Thursday to Saturday, Chinese officials said


    China to uphold multilateralism, oppose protectionism at G20 Osaka summit

    China is ready to work with relevant sides to firmly uphold multilateralism, and oppose unilateralism and protectionism at the upcoming Group of Twenty (G20) summit in Osaka, Japan, said senior officials in Beijing Monday.

    Fighting protectionism G20's top task amid trade war

    Amid an impasse between the US and China, the G20 summit in Japan offers a platform where US President Donald Trump will be able to talk with Chinese President Xi Jinping, if all goes well. It is too early to predict the outcome, but the summit has rekindled hopes that the two sides may resume trade talks after negotiations to reach a broad deal left hanging last month.



    US policies can cause global recession: expert 

    The US has increased trade conflict with China, and also Europe. What was the primary reason for Washington to start the trade dispute with them? Will China and Europe further expand cooperation to deal with US unilateral and protectionist behavior?

    Pompeo's role as troublemaker runs counter to diplomacy

    Having a secretary of state of this caliber is a tragedy of US politics and the sorrow of international politics. The world needs to be exposed to the damage Pompeo has brought to humankind's peaceful existence.

    Can US force multinationals out of Chinese market?

    American people will feel the pain if the world is deprived of China's huge market.


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    Friday, June 7, 2019

    China issues 5G licences in timely boost for Huawei


    The battle over 5G network suppliers is part of a broader push by the Trump  administration to check China's rise as a global technology powerhouse.PHOTO: REUTERS 

    https://youtu.be/O7cDVAEHqK4

    5G商用 中国准备好了! 20190605 | CCTV中文国际
    https://youtu.be/0fGVP8v-NWI

    News Wrap: Huawei to develop 5G networks in Russia

    https://youtu.be/Lzu4MBIzhyA

    SHANGHAI/HONG KONG (REUTERS, BLOOMBERG) – China granted 5G licences to the country’s three major telecom operators and China Broadcasting Network Corp on Thursday (June 6), giving the go-ahead for full commercial deployment of the next-generation cellular network technology.

    The approvals will trigger investment in the telecommunications sector which will benefit top vendors such as Huawei Technologies, just as the Chinese network equipment provider struggles to overcome a US blacklisting that has hurt its global business.

    China approved four operating licences for 5G networks, setting the stage for the super-fast telecommunications system amid simmering tensions with the US over technology and trade.

    The country’s three state-owned wireless carriers and China Broadcasting Network Corp were granted licences for full commercial deployment, according to state broadcaster CCTV.

    The operators, China Mobile Ltd, China Telecom Corp and China Unicom Hong Kong Ltd, have been testing the technology in several cities including Beijing and Shenzhen.

    Full deployment of 5G networks in a country with almost 1.6 billion wireless phone subscriptions is expected to boost local companies designing gear for applications in autonomous driving, robotics, remote surveillance and virtual reality. The faster-than-expected approvals also come as Shenzhen-based Huawei Technologies Co, the world’s largest manufacturer of networking equipment, has vowed to maintain its lead in the face of a US campaign pressuring allies not to use the company’s products.

    Shares of some 5G-related companies fell in Hong Kong and Shanghai trading after the licence announcement, trimming gains made earlier in the week on expectations the companies would benefit from the push for the new networks.

    China Tower Corp, the three major carriers’ infrastructure provider, fell 3% as of 10.50am in Hong Kong, paring its advance in the past four days to 9.1%. ZTE Corp, which makes handsets and telecom gear, dropped 4.3%, trimming its four-day rally to 7.1%.

    Betting on the fate of the nation’s next generation of telecom networks has been one of the year’s hottest trades in China and Hong Kong. An index of telecom-related shares is up 20% this year, led by a 54% rally in ZTE’s Shenzhen-traded stock.

    Beijing-based Xiaomi Corp in March said it would introduce China’s first 5G phone in May or June. Huawei and ZTE, have also said they intend to offer handsets compatible with the technology this year.

    Introducing 5G will directly add 6.3 trillion yuan (US$912bil) to economic output and 8 million jobs by 2030, the China Academy of Information and Communications Technology estimates. — Bloomberg

    Read more: 

    If they must pick sides, tech firms will choose China

    US President Donald Trump's latest confrontation with China's telecoms giant Huawei may plunge the world into a long-term technology “cold war,” forcing global companies to pick sides between the US and China.

    US may escalate trade war in six ways

    All parties suffer during the trade war, a game of “killing 1,000 enemies while losing 800 of our own.” Many institutions have forecast the impact of increased tariffs on China's economic growth to be around 1 percentage point. While there is no need to panic, we should also prepare for worst-case scenarios.
     Trump’s Huawei Threat Is Nuclear Option to Halt China’s Rise





    Related posts:


    China issues 5G licences in timely boost for Huawei


    The battle over 5G network suppliers is part of a broader push by the Trump  administration to check China's rise as a global technology powerhouse.PHOTO: REUTERS 

    https://youtu.be/O7cDVAEHqK4

    5G商用 中国准备好了! 20190605 | CCTV中文国际
    https://youtu.be/0fGVP8v-NWI

    News Wrap: Huawei to develop 5G networks in Russia

    https://youtu.be/Lzu4MBIzhyA

    SHANGHAI/HONG KONG (REUTERS, BLOOMBERG) – China granted 5G licences to the country’s three major telecom operators and China Broadcasting Network Corp on Thursday (June 6), giving the go-ahead for full commercial deployment of the next-generation cellular network technology.

    The approvals will trigger investment in the telecommunications sector which will benefit top vendors such as Huawei Technologies, just as the Chinese network equipment provider struggles to overcome a US blacklisting that has hurt its global business.

    China approved four operating licences for 5G networks, setting the stage for the super-fast telecommunications system amid simmering tensions with the US over technology and trade.

    The country’s three state-owned wireless carriers and China Broadcasting Network Corp were granted licences for full commercial deployment, according to state broadcaster CCTV.

    The operators, China Mobile Ltd, China Telecom Corp and China Unicom Hong Kong Ltd, have been testing the technology in several cities including Beijing and Shenzhen.

    Full deployment of 5G networks in a country with almost 1.6 billion wireless phone subscriptions is expected to boost local companies designing gear for applications in autonomous driving, robotics, remote surveillance and virtual reality. The faster-than-expected approvals also come as Shenzhen-based Huawei Technologies Co, the world’s largest manufacturer of networking equipment, has vowed to maintain its lead in the face of a US campaign pressuring allies not to use the company’s products.

    Shares of some 5G-related companies fell in Hong Kong and Shanghai trading after the licence announcement, trimming gains made earlier in the week on expectations the companies would benefit from the push for the new networks.

    China Tower Corp, the three major carriers’ infrastructure provider, fell 3% as of 10.50am in Hong Kong, paring its advance in the past four days to 9.1%. ZTE Corp, which makes handsets and telecom gear, dropped 4.3%, trimming its four-day rally to 7.1%.

    Betting on the fate of the nation’s next generation of telecom networks has been one of the year’s hottest trades in China and Hong Kong. An index of telecom-related shares is up 20% this year, led by a 54% rally in ZTE’s Shenzhen-traded stock.

    Beijing-based Xiaomi Corp in March said it would introduce China’s first 5G phone in May or June. Huawei and ZTE, have also said they intend to offer handsets compatible with the technology this year.

    Introducing 5G will directly add 6.3 trillion yuan (US$912bil) to economic output and 8 million jobs by 2030, the China Academy of Information and Communications Technology estimates. — Bloomberg

    Read more: 

    If they must pick sides, tech firms will choose China

    US President Donald Trump's latest confrontation with China's telecoms giant Huawei may plunge the world into a long-term technology “cold war,” forcing global companies to pick sides between the US and China.

    US may escalate trade war in six ways

    All parties suffer during the trade war, a game of “killing 1,000 enemies while losing 800 of our own.” Many institutions have forecast the impact of increased tariffs on China's economic growth to be around 1 percentage point. While there is no need to panic, we should also prepare for worst-case scenarios.
     Trump’s Huawei Threat Is Nuclear Option to Halt China’s Rise





    Related posts: