Skip to content
Worse, it threatened to take unilateral measures against such countr
上海夜生活品茶微信ies if substantial progress was not made at the World Trade Organization within 90 days.
From bilateral to multilateral forums, the US has been using ever
上海夜生活y platform to put “maximum pressure” on China in the hope that it would cave in.
Yet, has its approach worked?It’s evident to all, especially market players, that the increasing
ly dirty pressure tactics used by the US have not caused any visible damage to China’s real e上海夜生活品茶微信
conomy, including industrial production. Instead, the US leader’s decision to impose additional tariffs on m
ore Chinese goods caused Wall Street to dive into the red with stock indexes sliding on Thursday.上海夜生活
Also, the US is vulnerable to suffering greater damage if there is t
urmoil in the financial sector since the US economy depends more heavily on it than China.
上海夜生活品茶微信United States overvalues its economic strength
The US economy, despite registering 120 months of continuous growth i
n June, faces increasing threat of recession. Could anything other than waning co上海夜生活
nfidence in the economy have prompted the US Federal Reserve to sharply cut interest rates?
More importantly, the US should learn something from China. From being an impoverished and backward agricultural c
上海夜生活品茶微信ountry in the past, China has become the world’s biggest manufacturer and exporter, and second-largest economy.
As early as 2013, it accounted for one-third of the global equipment manufacturing-and its exports were one a
nd a half times that of the US and Germany, and three times that of Japan in 2017-in less than 70 years.上海夜生活
China has also overcome numerous setbacks and major external shocks, any of whic
h could have left many an economy tottering. Indeed, China has performed an economic miracle.
Resilient China has weathered many storms上海夜生活品茶微信
China’s industrialization started in the 1949-52 period when it was struggling to recover from the
war of liberation and largely lagged behind even its neighbor India. Over the past 70 years, China has not on
ly become an economic powerhouse but also a military power. Despite that, it has not been involved in any la上海夜生活品茶微信
rge-scale foreign war or faced internal strife, and instead concentrated on industrializing the country.