Mean act of hindering economic development of China

August 7, 2022

During her recent visits to Asian countries, the US Secretary of Treasury vilified China, saying that the country is conducting unfair trade activities to take predominant position in the field of advanced technology and it is intolerable that China creates economic confusion and wields its geopolitical influence with major raw materials, technology and goods taking advantage of its position in the market. And she argued that the trade between allies should be strengthened.

In this regard, the Chinese newspaper China Daily in its comment said that as trade is a reciprocal activity of making commercial transactions according to the bilateral agreement, it is a nonsense to claim that the Sino-American trade is only profitable to national interests of China. It criticized the US for appealing to its allies with “shared values” to strengthen trade, saying that it is, in essence, to turn the trade relations into a part of cold war factionalism of Washington.

It also disclosed that the ulterior purpose of the US is to break the economic interdependence between the countries formed thanks to the globalization of the economy for several decades and to isolate China.

It is not the first time that the US moves to contain China and to internationally isolate it in the fields of economy and trade surfaced during the recent Asia trip of the US Secretary of Treasury.

In 2018, under the pretext of “unfair trade deficit with China”, the US provoked a China-US trade war by imposing additional tariffs on Chinese imports worth hundreds of billions of US dollars. It also has been attempting in every way to cut off the industrial and supply chain between China and all other countries of the world.

This year alone, it has rigged up all sorts of economic blocs one after another to the exclusion of China, including IPEF (Indo-Pacific Economic Framework), PBP (Partners in the Blue Pacific) and PGII (Partnership for Global Infrastructure and Investment).

Besides, it is imposing unilateral sanctions on Chinese companies for the reason they cooperate with Russia in the field of munitions industry. It is scheming to form “Chip 4” for the purpose of eliminating China from the world’s supply network of semiconductors.

The reality clearly shows that the US pressure on China has entered a full-scale stage, becoming more undisguised not only in the political, diplomatic and military fields, but also in the areas of economy and trade with its scale expanded into a world level.

As the Chinese media warned, the shameless and hegemonic behaviour of the US attempting to hinder the economic development of China will only bring self-destructive consequences to itself.


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