In a divided country of the United States, will China promote a new wave of globalization?

The United States began the biggest trade war in economic history with the application of 25% tariffs on Chinese imports of $ 34 billion since July 6th. Seeing that they had to take steps to defend themselves, China subsequently imposed additional duties on 545 US products. For the same value, including vehicles and agricultural products

This was the first concrete action China took in the trade dispute after the United States stopped provoking a trade war during months, not only against China but the global chain of supply and value.

The central interests of China and the United States. UU They are not contradictory, given that the Trump Administration focuses on creating jobs for manufacturing companies that have long been the basis of US industry while China seeks a modernization industrial sector and increases its position in the global value chain. , economist at Tsinghua University and former member of the monetary policy committee of the Chinese Central Bank

"The main focus of President Trump is on the jobs of workers, jobs in the Midwestern states United States. "China can help regenerate the Detroit economy, but the United States must also respect China's central interests and its strategic plan Made in China 2025, each of nearly seven years. complementing each other with their respective interests. China's industrial upgrading remains non-negotiable as China is pro from a middle-income country to a high-income country. "

Li pointed out that the" divided states of America "emerge, around the dispute between elites and ordinary workers about what should be taken as the goal of the long-term economic framework of the

"We see a division in the United States. UU., And part of the country is aligned with Trump's policy of creating jobs priority, while the other half is dominated by elites in favor of globalization trying to curb the China's economic growth. The administration of President Trump focuses primarily on creating jobs, which is the most important message. I think that after the mid-term elections, China and the United States UU They will develop a plan to establish a mutually beneficial cooperation.

"While the gap between Trump's agenda and the perceptions of elites manifests itself in many areas, both parties can find common ground regarding the alleged threat of China."

In March 2018, United States UU He once again blocked the appointments of members of the World Trade Organization's Appellate Body, a measure which, according to many, would not suffice to resolve Washington's trade rhetoric disputes with its global trading partners. However, Mr. Li considered that it was a sign that the United States could eventually withdraw from the WTO.

"Previously, the 7-member appeal body was the WTO body, which was reduced to 4. The candidates The other three vacancies were blocked by the US The WTO is basically paralyzed by the United States, and I think President Trump will most likely step out of the WTO. "

To the question of whether China and the EU will work together to preserve the global trading order while the trade war will erupt, Li stressed that China and the EU have common interests to defend the legitimacy of international trade against paranoia of unilateralism. China and the EU will probably act as natural partners to support globalization and free trade.

"China is trying to work with the EU," he said. "The EU has been the first to assert as a free association and the EU will work with China on multilateralism and free trade."

Li also expressed optimism and hopes that China is ready to take the lead in globalization. . He pointed out that China will bridge the gap in the global economic order with a different paradigm by adopting it as a central tenet, in stark contrast to the global hegemony of the "American premiere" that shares this country.

"China is ready to take the leadership of globalization, but in a less provocative, aggressive and energetic way, however, China has started to work little by little with India, the EU, DPRK, South Korea and Japan, which shows that China is already taking command with a Chinese style, based on the basic principles of inclusion, co-prosperity, respect , mutual understanding and gradualism. "