During the important period of the global economic recovery, the United States has re -used the tariff, deciding to impose tariffs that calls it “parallel” to all its global trade partners, where the tariffs on China will reach up to 34%. Faced with this open-minded action, China quickly responded to a similarly-timed action within 24 hours, announcing a 34% tariff against US goods. Unlike 2018, this journey this tax war was not only a simple political game or strategic pressure, but about the dignity of the country, the future of developing countries, and global trade trends. As the second -largest world economy and the largest developing country, this war must be responded by China, with three important logic.
One, strategic wisdom to fight correctly
China's combat measures clearly reflect the strategic ideas of “beating correctly.” The list of targeted products includes major US products such as soybeans, beef, cars, and others, which not only apply to key US economic sectors, but are also an important basis for Trump's election. Statistics show that during the 2018 trade war, the US agricultural revenue generated by China's exports collapsed by 52%, resulting in more than 1000 farms closed. This China's correct combat action will again bring a blow to the key areas where people follow Trump.
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Additionally, China also announced control of the sale of 7 rare minerals, which are important in modern industries such as F-35 fighter planes, missiles, and renewable energy batteries. The US Department of Defense report shows that 80% of these imported minerals are based on China. This strategic fighting action will automatically threaten the chain of military industrial supply and advanced US technology. China's position is clear: the trade war will have serious consequences for the US business and consumers.
Second, to protect the collective interests of developing countries
This is a war that not only targets China and other powerful economies, but also attacks African countries with discriminatory policies that have caused serious consequences. Many African countries have been in disaster. The Lesotho Kingdom country is facing 50%high tariffs, while other countries like Madagascar (47%), Mauritius (40%), Botswana (37%), Equatorial Guinea (30%), and South Africa (30%) will also see a significant increase in tariffs. China's fighting action will protect the interests of developing countries. China is aware of the bitterness of African countries: setting up a 50% tariff on Lesotho pants for Lesotho will lead to the closure of many textile industries and the loss of many jobs, while the United States continues to demand the country open the doors for their products. This dictatorship with two criteria, China will not accept it! China's position is simple and consistent: developing countries are also entitled to development!
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Third, to improve the global business management system
At present, the United States is destroying the international trade system created after World War II, seeking to make the World Trade Organization (WTO) a tool to achieve “US first.” China's fighting action will be protective for the whole world in protecting business regulations. On the one hand, China has already filed a lawsuit against the United States in the WTO, using legal weapons to oppose US discrimination; On the other hand, China continues to expand its high quality opening to the world, providing confidence in international trade-China's second Tesla plant was officially launched in Shanghai, Astrazeneca announced the construction of the sixth research and development center in Beijing, and BASF invests many billion Yuan to build a Guangdong production factory … Improved, with BRICS countries expanding the use of their internal currencies … China's goal is clear: to maintain an international trade system built on the principles of justice, and not the dictatorship of a particular country.
Business War has no winner! JPMORGAN BANK CHASE expects: If the trade war exceeds, the probability of a decline in the US economy will increase to 60%. Facing US pressure, China has no other choice. China's anti -Chinese move is to ensure that the United States is aware: Taxation does not work for China: the eight -year trade war shows that the Chinese industrial chain is more consistent than it thinks in the United States; Developing countries are not playing sheep: South countries wake up; The world does not need a ruler: justice is the future.
CRI report
Source: TUKO.co.ke
