International Observation: The United States’ attempt to build a “protectionist alliance” to contain China is destined to fail.
A few days ago, U.S. Treasury Secretary Yellen claimed before the G7 Finance Ministers and Central Bank Governors meeting that the United States and Europe must form a clear united front on the problem of "overcapacity" in China's industry, and "market-oriented countries" should China-led industrial policies have erected a “wall of opposition.” Before Yellen made the above statement, the United States had announced the imposition of high tariffs on Chinese electric vehicles and other products.
Yellen's so-called "overcapacity" in China's industry is a false narrative artificially fabricated by the United States. It is a deliberate slander of China's industrial policy. It goes against common sense and common sense, and is inconsistent with objective facts. According to Yellen, the production capacity of China's related industries greatly exceeds domestic demand, which may lead to a large number of low-priced exports, causing harm to companies and workers in the United States and other countries. If exporting more means overcapacity, then almost all countries in the world, including the United States, have their own advantageous export products, so don’t they all have overcapacity? Why can the United States sell Boeing aircraft and high-end chips all over the world, but China cannot export electric vehicles?
As an economist, Yellen made remarks that went against the principles of economics and hyped up China's "overcapacity", which shows that she has a strong political purpose. When Yellen visited China not long ago, she also emphasized that the United States does not seek "decoupling" from China, but turned around to win over the European Union to create a so-called united front and erect a "wall of opposition" to China's industrial policies, which fully exposed the fact that the United States says one thing and does another. The hypocritical nature of fraud and the sinister intention of suppressing China's advantageous industries. Anyone with a discerning eye knows that what the United States is peddling under the guise of "overcapacity" is a replica of the "China threat theory", it is promoting outdated protectionism, and it is safeguarding its own selfish interests.
The United States' attempt to form a "protectionist alliance" to contain China in response to China's so-called "overcapacity" has not been fully recognized by its allies. European Commission President von der Leyen said that the EU will not follow the United States in imposing tariffs on China, and the EU will adopt a different approach from Washington's "package tariffs". German Chancellor Scholz pointed out that currently half of the electric vehicles imported by the West from China are produced in China by Western manufacturers themselves and then exported to Europe. European and American manufacturers also sell a large number of cars produced in Western countries to China. French Finance Minister Bruno Le Maire emphasized that China is an economic partner and a trade war with China is not in the interest of any country. This fully demonstrates that Yellen’s initiative to unite to contain China comes at the expense of the actual interests of U.S. allies and is destined to be unpopular.
China's opening up and development bring opportunities rather than risks to the world. China's new energy industry has developed real skills in open competition and represents advanced production capacity. It not only enriches global supply and alleviates global inflationary pressure, but also makes a huge contribution to the global response to climate change and green transformation. Protectionism will not solve America's problems. "Building walls and barriers" against China will only block future development opportunities for the United States. The United States should immediately stop suppressing China's new energy and other industries in the name of "overcapacity", return to the correct direction of economic globalization, and strive to make the "cake" of mutually beneficial cooperation bigger, so that development results can benefit more and more equitably, including the United States. People of all countries.
