Peoples Dailys Comment on Strategic Mistakes of Some Americans: Moving against the Trend of Economic Globalization

category:Finance
 Peoples Dailys Comment on Strategic Mistakes of Some Americans: Moving against the Trend of Economic Globalization


If any country wants to develop, it must abide by the law of history and conform to the trend of the times. Only I respect and move against the current will be crushed by the wheel of history.

(1) It is inevitable that the sea of the world economy is there, whether you want it or not. History has proved and will continue to prove that the tide of economic globalization is irresistible.

Living together in the global village, human destiny has never been so closely linked as it is today, and the interests of all countries have never been so deeply integrated. However, with the rise of anti-globalization, hegemonism and power politics, the challenges facing the international community are also increasing day by day.

Surprisingly, the protagonist waving the protectionist stick is not another country, but the United States, which has always advocated international responsibility and boasted of being an advocate of economic globalization.

I used to study economic globalization and international trade in the United States, but everything we see today is reversed. The United States is shrinking. Cassim Tefali, Chairman of the Lebanese Association for China-Arab Cooperation and Development, spoke frankly.

Under the guise of safeguarding national and labor interests, attempts to reverse the process of globalization will not solve domestic problems, but also damage the long-term international image of the United States. This is the comment of American economists.

Everything gets its own life, everything gets its way. Obviously, some people in the United States are confused about the road of economic globalization, some simply ignore it and need to make up for it.

Why cant economic globalization be blocked? The nature of commodity and market has brought about the globalization of economy. If the domestic market is not satisfied, commodities will have to find buyers all over the world, which is irresistible; if the cost of the country is gradually high, it will have to find depressions all over the world, which is also irresistible. The construction of global supply chains, industrial chains and value chains is not artificially created by who and which countries. Some people in the United States want to artificially disrupt these chains and are doomed to failure.

The production and sale of Apple mobile phone is a vivid microcosm of the law of economic globalization. Apples R&D and design may have been completed in the United States. Its components come from Japan, Europe, Korea and other places. Finally, the whole unit is assembled in China and sold all over the world through its huge sales network. It can be said that without cross-border flows of goods, capital, technology and information, there would be no Apple today.

Economic globalization has brought tangible benefits to all countries in the world. Imagine people on the other side of the globe, expecting to eat my cherries, and they have the motivation to continue refueling. American farmer Peter Verbrugge picks cherries from his farm in Washington State and sells them through Chinas e-commerce platform. It takes only 48-72 hours to deliver them to Chinese consumers.

It is universally acknowledged that the economic globalization with free trade as its core has contributed to the great prosperity of trade, the great convenience of investment, the great mobility of personnel and the great development of technology, which have benefited the people of all countries.

In the new wave of economic globalization that sprang up in the 1990s, new industries, new formats and new momentum emerged constantly, which strongly promoted the prosperity and development of the world economy. Statistics show that the average annual growth rate of the world economy is 4.05% from 1990 to 2000; if the time dimension is extended to 1990 to 2010, the average annual growth rate of the world economy will accelerate to 5.51%.

Looking ahead, economic globalization is still an irreversible trend.

Economic globalization was once regarded as Alibabas cave, but now it is regarded as Pandoras box by some people. Development imbalance, governance dilemma, digital divide, fair deficit... In the process of globalization, there are indeed some problems.

You cant go back to the harbour as soon as you encounter a storm. You can never get to the other side of the harbour. We should face up to these problems and work together to solve them. We should not waste food, take protectionist and unilateralist measures and adopt selfish neighbourly practices.

(2) Whoever rejects the world will be rejected by the world. Regrettably, some people in the United States ignore the world trend and go further and further on the road of anti-globalization.

They try to act as messengers, withdrawals, walls, tariffs, trade wars and entity lists for export control. These changes are nothing more than to abandon the pot of domestic contradictions to economic globalization and seek self-interest at the expense of the interests of other countries.

They ignore the economic laws behind industrial transfer and international division of labor and try to create so-called new laws.

Some of the policies of the United States, which are against the trend, are threatening global economic growth. In June this year, the World Bank predicted that global economic growth would further fall to 2.6% this year, and continued trade tensions were one of the major downside risks. In the first quarter, U.S. industrial output fell by 2.1% from a year earlier, and in April it dropped by 0.5% from March. Last year, net income of American farmers fell by 16% from a year earlier, falling to the level at which the international financial crisis occurred.

(3) In todays era, countries are interdependent and mutually integrated communities of interests, and open, inclusive and win-win cooperation are the only correct choice - history has proved and will continue to prove that the trend of common development is irresistible. No one can deprive people of their right to pursue a happy and beautiful life.

Developing countries should accelerate their development and get rid of poverty. Developed countries should also seek re-development. It is the wish and requirement of the vast majority of countries to promote common development.

Only through common development can the world prosper for a long time.

Every country has the desire and right to safeguard its own interests. However, if this desire is realized through you lose, you lose, I win, or even you die and I survive, it will be in deep trouble. Without a solid foundation for equality, mutual benefit and common development, some countries are doomed to flash in the pan even if they get temporary benefits.

Looking at the whole world, the material and technological level has been highly developed, but the problems of unbalanced and inadequate development still prevail. An alarming number is that more than 700 million people around the world live in extreme poverty.

Hello, hello, hello, everybody. While each country seeks its own development, it should also actively join hands with other countries for common development so that more people can enjoy prosperity and well-being.

(4) Development together is the real development, and sustainable development is the good development. However, in the face of the trend of common development, some people in the United States appear selective blindness.

They are stuck in the dead end of the jungle and unwilling to extricate themselves. They are blinded by the illusion of winner-take-all. In the end, they just want to win by themselves and do not want the common development of all countries.

Get more help, but lose more help. Blowing out other peoples lights will burn your beard.

During the general debate of the 73rd UN General Assembly in 2018, the overwhelming majority of UN Member States criticized the United States for promoting protectionism and aggravating trade frictions. Countries clearly advocate collective action to safeguard the multilateral trading system and call on the United States to follow the trend and return to the right track. If some people in the United States dont hit the South Wall and dont turn around, they will eventually make enemies everywhere and eat bitter fruits for themselves.

The tariff weapon is actually a double-edged sword. Some people in the United States think that tariff weapons are omnipotent, but in fact it is a self-mutilating game strategy. Although some in the United States claim that the United States is making money, in fact, the United States will lose even more. According to the U.S. Congressional Budget Office, U.S. tariff revenue increased by $8 billion in the last three months of 2018. It is estimated that the contribution to each family (according to the family of four) is less than $100. According to World Trade Partners, a 25% tariff on US exports from China of US$250 billion will result in 934,000 jobs lost in the United States in a year and an increase of US$767 per year in household expenditure.

What will it bring about that some people in the United States always solve problems by threatening, confronting rather than negotiating and dialogues for their own sake and taking risks from the world? History has given the answer.

A study by the Brookings Institution, an American think tank, shows that if a serious trade war broke out worldwide, the economy would return to the Great Depression of the 1930s. The International Monetary Fund predicts that the losses caused by the trade war between the United States and other countries could reduce global economic growth by 0.5% for three consecutive years, resulting in a loss of about $430 billion in global GDP.

History tells us that if we take the road of confrontation, whether it is the cold war, the hot war or the trade war, there will be no real winners. Opposition and confrontation, a word is not on the sword pull, fists meet, and ultimately only self-humiliation.

History is the best textbook. Looking back on the road, 70 years after the founding of New China, we experienced many difficulties and obstacles, encountered many storms, but under the strong leadership of the Communist Party of China, we kicked stumbling blocks to the roadside and stepped on a road tiger. From the very beginning of the founding of New China, to the end of 2018, Chinas gross domestic product has surpassed the 90 trillion yuan mark; from 70 years ago, even a tractor, a car can not be built, to now it has become the worlds largest manufacturing country, Chinas development achievements are not the same today, the ability to resist risks is not the same today.

Storms can topple small ponds, but cant topple the sea. China has a huge market of nearly 1.4 billion people, a middle-income group of more than 400 million people, the most complete industrial system in the world, abundant human capital and abundant land resources - which makes Chinas economy rock-solid and fearless of the storm!

Most importantly, we have the institutional advantage of concentrating our efforts on major events, and the support of the people who are united in their hearts and aspirations. This is our greatest confidence and strength in dealing with the storm. How can China today be intimidated by unreasonable blackmail? How can the Chinese people today bow before bullying? As long as we maintain our firm ideals, beliefs and revolutionary will, we will be able to step over every obstacle, trap, encirclement and blockade, and throw them all behind us!

All the way through the storm, all the way forward. Keeping the strategic strength of flying through chaotic clouds calmly and carrying forward the tenacious spirit of clinging to green hills and not relaxing, we will surely be able to overcome all kinds of risks and challenges, win initiative, win advantages and win the future. No one can stop the historical process of the great rejuvenation of the Chinese nation!