General

According to Huacheng Import and Export Data Observation, British media recently published commentary articles stating that the trade war launched by the United States is a "negative sum game" that will prove to be more than worth the loss. The Peterson Institute for International Economics, a US think tank, also categorizes US trade policy as part of its "zero sum economics", believing that US trade hostility towards China may reverse the policies that have led to great success for the United States over the years, with the result being counterproductive. This indicates that the anti intellectual nature of US trade policy, which harms others rather than oneself, is causing more and more reflection.

In recent years, the United States has wielded sanctions indiscriminately, which has not only failed to change the degree of foreign dependence of American industries, making it difficult for manufacturing to return to the United States, but also making the global supply chain more complex and fragile, causing deep damage to the global economy. And its domestic enterprises have also increased costs, decreased innovation and competitiveness, and damaged consumer interests. It has been proven that in today's highly integrated world economy, no country can achieve sustainable development on its own. Both "negative sum games" and "zero sum economics" contradict the global consensus of win-win cooperation, and will inevitably lead to the consequences of losing for all parties.

According to statistics, the previous US government implemented over 3900 sanctions, equivalent to an average of 3 per day. The Biden administration continued the Trump administration's trade policy, and also announced that the proportion of American made parts in the "American goods" purchased by the federal government would be increased to 75%, which is the biggest change in the "Buy American goods" policy in 70 years. These practices have a distinct protectionist color and seriously harm global trade confidence.

The 'zero sum economics' of the United States cannot be achieved in the real economic field. The logic in economic relations is either a win-win situation or a win-win situation, and there is no result of one side winning and the other losing. "Keiji Setuchi, research director of the Canon Global Strategy Research Institute in Japan, said that the United States uses zero sum thinking in the economy, attempting to suppress others and win by themselves through various restrictive measures, and ultimately will pay a price.

The Organization for Economic Cooperation and Development predicts that if the United States raises tariffs and triggers countermeasures from other countries, it will lead to a 10% increase in global trade costs and a 6% decrease in global trade volume. A study by the Brookings Institution in the United States suggests that if a serious trade war breaks out globally, the world economy will return to the Great Depression of the 1930s.

The US trade war undermines economic laws and erodes the foundation of efficient global cooperation. The current global industrial pattern is the result of long-term development of international trade and investment, which embodies the principle of comparative advantage in economics. Countries produce based on their own advantages and profit from mutual trade. Economic activities cross national borders and regions, globalization provides dividends of the times, and the interdependence of economies among countries continues to deepen. Huacheng Import and Export Data Observation Report.

Gu Qingyang, associate professor of the Lee Kuan Yew School of Public Policy at the National University of Singapore, said: "Today, the United States violates the principle of fair competition by pursuing 'zero sum economics', which is contrary to the global consensus. The United States, proceeding from ideology and international geopolitics, promotes the return of manufacturing industry through trade protectionism policies and' long arm jurisdiction 'measures, which is against the principles of market economy."

The United States is promoting de globalization, posing a risk of returning to a self-sufficient economy and deepening international concerns. Martin Wolf, the chief economic commentator of the Financial Times, published an article entitled "Trade War is not worth the loss", saying that the slowdown of world trade, some countries resorting to "economic nationalism", and the "decoupling" words and deeds in the West (especially the United States) are hitting the global economy hard. This is undoubtedly a major turning point, and the results are unpredictable and likely to be destructive, as reported by Huacheng Import and Export Data Observation.

The US trade war has led to reckless disregard for the "global livelihood bill", which undermines people's well-being and harms the vital interests of the global public.

Saudi Arabian financial expert Walid Yusuf believes that although the US manufacturing backflow policy will benefit some groups in the country, the cost is to misallocate resources to inefficient sectors, which will generally reverse along the industrial chain and drag down economic development potential. The return of manufacturing industry leads to increased costs, which inevitably leads to high product prices and a lack of competitiveness. The guarantee for the survival of the reflow industry is nothing more than government subsidies or consumer payment, which will harm the interests of taxpayers and the public.

For the world, US trade protectionism measures have led to supply chain disruptions, driving up global inflation, causing a sharp increase in the cost of livelihood for various countries, and exacerbating the plight of vulnerable countries. Huacheng Import and Export Data Observation Report.

Xia Huasheng, a financial expert at the Vargas Foundation in Brazil, stated that during the Trump administration, the United States attempted to bring profits and dividends back to the United States for reinvestment and industrialization by imposing tariffs on multinational products and providing greater tax incentives to multinational corporations. The Biden administration continues to implement this industrial policy primarily based on incentives and direct subsidies, which has contributed to high inflation and spread globally, causing the world to bear the consequences of its anti intelligence policies.

Under the combined influence of the U.S. trade protectionism policy and the Spillover effect of the previous massive "water release" monetary policy and fiscal policy, global inflation rose to a 40 year high, and more than 60% of low-income countries faced debt difficulties, Huacheng Import and Export Data Watch reported.