The author argues that Donald Trump's trade policies have inadvertently accelerated China's development in high-tech manufacturing. Despite the US's attempts to curb China's economic rise, China has made significant advancements in areas like electric cars, robots, and rare materials, becoming more self-sufficient and competitive on a global scale. The article suggests that a mutually beneficial agreement between the US and China is crucial to avoid escalating trade tensions.
I just spent a week in Beijing and Shanghai, meeting with Chinese officials, economists and entrepreneurs, and let me get right to the point: While we were sleeping, China took a great leap forward in high-tech manufacturing of everything.
The Chinese experts I spoke with during my trip two weeks ago would like to avoid that battle. The Chinese still need the US market for their exports. But they will not be pushovers. Both Beijing and Washington will be much better off with a bargain — one that imposes a gradual increase in US tariffs, while both do what they needed to do long ago.
“This is a level of manufacturing dominance by a single country seen only twice before in world history — by the UK at the start of the Industrial Revolution, and by the US just after World War II,” Smith wrote. “It means that in an extended war of production, there is no guarantee that the entire world united could defeat China alone.”
So what do you think is going to happen? The rest of the world will gradually transition to Chinese-made self-driving EVs, “and America will become the new Cuba — the place where you visit to see old gas-guzzling cars that you drive yourself,” as Keith Bradsher, theIf that happens, one day we’ll wake up and China will own the global electric vehicle market.
In his first term, Trump — and Joe Biden, too — was right to impose tariffs on China as long as it didn’t give us reciprocal access. China has consistently violated World Trade Organisation trade rules to avoid giving reciprocal access to its major trading partners, and it has greatly subsidised its companies. China has historically bought $1 from America for every $4 America bought from China; much of that is soybeans and other agricultural products.
CHINA MANUFACTURING TRADE TARIFFS DONALD TRUMP
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