Author of "Chip War": The West's "Risk Reduction" towards China is doomed to fail | Worldview Website | China | Author
On August 6th, local time, the website of The Economist in the UK published an article titled "The West's" Risk Reduction "Strategy towards China is doomed to fail". The author is Chris Miller, a history professor at Tufts University in the United States and the author of "Chip Wars".
The article first introduces that in the relationship with China, the strategy of Western countries has shifted from decoupling theory to de risk theory. The so-called "risk reduction theory" refers to the implementation of technology and investment restrictions on China while maintaining trade relations.
The article points out that the "de risk" strategy is destined to fail and lists three reasons.
Firstly, although China faces many technological and military limitations from the West, it is confident in overcoming these limitations.
The article states that Western countries actually hope to separate safety concerns related to high-tech products from broader economic relations in their relationship with China. However, China has realized that the essence of "de risk" is a strategy that hinders China's technological progress, and this strategy also attempts to minimize the losses of interrupting trade to the West. The article points out that China is confident in responding to Western restrictions through innovation.
Secondly, Western multinational corporations are not willing to listen to politicians' rhetoric and are actively restructuring their relationship with China. These companies are not willing to politicize the issue.
Thirdly, China is reducing its dependence on Western manufacturing technology, especially in the field of green energy, and is striving to reduce its dependence on oil imports.
The article argues that the "risk reduction" policy is destined to fail, but Western countries will not give up and will inevitably respond with new restrictive measures. At the end of the article, it is pointed out that whether it is diplomatic or economic issues, it will be difficult to find a solution if both sides do not make concessions. However, currently there are still many strategies for China to respond.