Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Policies

    Unilateral action could spur trade war, experts say

    By Zhong Nan and Jing Shuiyu in Beijing and Chen Weihua in Washington | China Daily | Updated: 2017-08-21 06:53
    Share
    Share - WeChat

    A container ship docks at the Port of Ningbo, East China's Zhejiang province. [Photo/Xinhua]

    A US rule being used to look into Beijing's trade practices is too out of date to provide effective measures to relieve its trade deficit with China, and international trade friction can never be solved through unilateral acts, senior experts from both countries said.

    The US trade representative initiated the investigation on Friday under Section 301 of Trade Act of 1974, examining China's intellectual property policies and practices. That came just four days after President Donald Trump signed a memorandum authorizing the trade representative to determine if an investigation was necessary.

    The move by the United States signals that the current bilateral economic and trade relations are "at a crossroads", said Wei Jianguo, vice-president of Beijing-based China Center for International Economic Exchanges.

    "China needs to prevent the Trump administration from replacing the bilateral, multilateral and global trade rules with unilateralism on trade," the former vice-minister of commerce told China Daily on Sunday.

    Wei said the "Cold War mentality" of the US is dangerous. "It will result in global trade recession and chaos," he said.

    "The trade imbalance is caused by the distribution of the global value chain and the differentiated industrial structure," said Bai Ming, a researcher with the Chinese Academy of International Trade and Economic Cooperation in Beijing.

    Bai said the labor in the US costs more than in China, therefore it does not have an advantage in manufacturing to compete with China, but it has a notable edge in high-tech products and services trade with China.

    "Such unilateral trade sanctions on China will not stop the progress of globalization and such action will only weaken the ability of companies to earn in both countries," said Bai. "No one can force China to obey other countries in conducting trade activities."

    China has warned the US of its actions after Trump signed the memo last week. The Ministry of Commerce responded on Tuesday by saying China will take all necessary and appropriate measures to protect its commercial and trade interests if the US wrongly accuses China of theft of US technology and intellectual property.

    Foreign Ministry spokeswoman Hua Chunying said last week that "any member of the World Trade Organization should observe its rules in taking trade measures".

    "Given the increasingly converging China-US interests and the close-knit pattern of the two countries being mutually dependent, there will be no future or winner but only losers in a trade war," she warned.

    Chad Bown, a senior fellow at the Peterson Institute for International Economics, described the use of Section 301 as dusting off an outdated US trade law that allows the US president to unilaterally impose tariffs on another country.

    Section 301 was used most by the Reagan administration, when current US Trade Representative Robert Lighthizer served as deputy trade representative.

    Bown said such a solution may only make matters worse. He said the use of an ill advised and obsolete US trade law is likely to shift attention away from China's actions toward Trump's own policies.

    The US government has conducted 122 such Section 301 investigations since 1974.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    亚洲不卡中文字幕无码| 中文字幕无码不卡免费视频| 亚洲熟妇无码八V在线播放 | 午夜不卡无码中文字幕影院| 中文字幕亚洲欧美专区| A∨变态另类天堂无码专区| 中文字幕亚洲一区| 久热中文字幕无码视频| 久久久久成人精品无码| 久久亚洲AV成人出白浆无码国产| 伊人久久无码精品中文字幕| 天堂а√在线中文在线最新版| heyzo专区无码综合| 无码日韩精品一区二区免费暖暖| 中文字幕久久亚洲一区| 日本乱中文字幕系列观看| 中文字幕7777| 无码任你躁久久久久久久| 精品久久久久久无码免费| 久久久久亚洲Av无码专| 无码人妻精品一区二区三区99仓本| 无码精品国产dvd在线观看9久| 新版天堂资源中文8在线| 日本久久久久久中文字幕| 欧美中文字幕一区二区三区| 韩国中文字幕毛片| 最近高清中文字幕无吗免费看| 国产亚洲情侣一区二区无码AV | 亚洲中文字幕无码久久2017| 亚洲AV无码无限在线观看不卡| 中文字幕在线一区二区在线| 久久久久久久久久久久中文字幕 | 忘忧草在线社区WWW中国中文| 国产精品无码午夜福利| 高清无码视频直接看| 777久久精品一区二区三区无码| 大学生无码视频在线观看| 无码精品一区二区三区免费视频| 人妻丰满熟妇A v无码区不卡| 宅男在线国产精品无码| 久久久久久亚洲精品无码 |