Qiushi, the official journal of the Chinese Communist Party, published a commentary in its twelfth Issue for 2019. The subject was the trade war between China and the United States. It urged keeping a clear mind and fighting until the end. Xinhua and People’s Daily have since re-published the commentary. The following is a summary of some of the highlights:
The Sino-U.S. economic and trade relationship is not a “zero-sum game.” Rather, it is mutually beneficial.
The “fair trade” that the United States emphasized is not really fair at all. The United States purchases resources, labor, and products at a low cost from developing countries while selling its technology products at a high price.
Unilateralism is a dead end. Only through open cooperation can one gain more development opportunities and more room for development.
The United States hegemonism in the area of technology will not succeed. China’ technological advances are the result of the competition and hard work of the Chinese people and not the result of stealing or forced technology transfer.
The ultimate pressure applied to China will not work because such pressure will expose the true nature of the U.S. hegemony and further isolate the United States in the international community.
The trade protectionism of the Trump Administration will not bring the manufacturing industry back to the United States. On the contrary, it will seriously damage the global value chain, impact global resource allocation, generate widespread negative spillover effects, and reduce the efficiency of the global economy.
The trade war between China and the United States will not promote the prosperity of the U.S. economy. What goes around comes around. There will be no winner. Whoever initiates the trade war will eventually hurt themselves.
The Sino-U.S. trade war will not crush the Chinese economy.
The commentary concluded by stating that China has been firm and consistent in its position regarding the key differences between China and the United States on the trade war: zero-sum game vs. mutual benefit and win-win; opposition vs. cooperation; monopoly vs. competition; and unilateralism vs. multilateralism.
Source: Xinhua, June 16, 2019