Luo Siyi, senior researcher of Chongyang Institute of financial research of Renmin University of China and former director of London Economic and commercial policy office, said recently that the US China relationship has gone through a bad period. The new cold war policy towards China during the trump administration has caused serious damage to the United States and has also had a negative impact on China and other countries in the world. The new administration of the United States has brought opportunities for the readjustment of bilateral relations.
Luo Siyi first pointed out that the new cold war policy to China carried out by the last US government has caused direct damage to the American people and their enterprises.
Citing research from the Oxford Institute of economics, he pointed out that the US imposed tariffs on China, which increased American household spending. The Brookings Institution’s survey also shows that the US imposed tariffs on China led to the loss of 175000 to 300000 jobs in the United States.
In Luo Siyi’s view, the US tariff on China has not created employment opportunities for us workers. Excluding Huawei from the US 5g network only means that Americans will have to pay more for using mobile phones. Moreover, the US 5g network will be put into use later.
Luo Siyi also believes that the attitude of the last administration towards China, all kinds of negative incitement against China, and the bizarre remarks of former Secretary of state pompeio on twitter have prevented the United States from truly learning from China’s anti epidemic experience, which indirectly caused great harm to the Americans. More than 400000 people in the United States were killed in the outbreak, compared with less than 5000 in China.
Moreover, worst of all, the demagogic methods commonly used in some of ponpeo’s tweets distort the US view of the world. It’s very dangerous for a big country like the United States to have a distorted view of the world.
Luo Siyi believes that responsible politicians should try their best to accurately judge the situation rather than mislead it. The United States is full of nonsense about China’s economy and its impending collapse, or such books as Zhang Jiadun’s infamous Book China is about to collapse. If you try to mislead others, you will also mislead yourself.
Luo Si Yi also said that fortunately, the Biden administration has taken some positive measures initially to rejoin the Paris climate change agreement, return to the WHO and deal with COVID-19 more seriously.
Then, Luo Siyi talked about the impact of the new cold war policy of the United States on China. He said that even the U.S. media acknowledged that China had got rid of the impact of the trade war and had been more successful in controlling the epidemic than the United States. Although China has suffered losses due to the epidemic, compared with other economies, China’s economic performance is very outstanding, which can be said to be the best at present.
Luo Siyi stressed that it is unusual for China to become the only major economy to achieve economic growth in 2020 and play an engine role in world economic growth. The United States and other countries should seek to benefit from China’s economic growth in order to achieve a real win-win situation.
Finally, Luo Siyi also talked about the negative impact of the US New Cold War thinking on China on other countries in the world. Take India as an example, India has taken some measures against China, the most typical of which is to ban tiktok. As a result, the losses caused to tiktok are not huge. It is the local enterprises in India that really have huge losses. Another example is that the UK allowed Huawei to participate in the construction of 5g network at the beginning, but later refused to do so. As a result, the UK will pay a higher price for the construction of 5g network.
Luo Siyi believes that great changes are taking place in the pattern of global economic growth. The center of world economic growth will shift to developing countries, the most important of which is China. In this case, a win-win relationship should be created. That’s exactly what Asia is doing. Now ASEAN has replaced the United States and the European Union as China’s largest trading partner, and this achievement is extremely remarkable. On the contrary, cold war thinking means to shift a country’s trade from the most active center of the world economy, namely China and Asia, to the more stagnant center, namely the United States, which is of no benefit to the American people.
Luo Siyi further pointed out that some signs also show that other countries will not cooperate with the zero sum game policy of the United States, nor do they want the cold war, but hope to cooperate with China for a win-win situation. In 2020, China has successfully signed the regional comprehensive economic partnership agreement and the China EU investment agreement. The United States should abandon the Cold War mentality and join similar agreements.
Luo Siyi concluded that with Biden coming to power and taking some positive measures, the relationship between the two countries has a chance to start again. Both China and the United States and other countries hope that the United States can adopt a win-win policy again.
On the evening of January 28, China Daily held an online lecture on the theme of “Sino US relations in a new era” to invite Chinese, American and British political and business scholars to share their views and gather consensus on Sino US relations and world development trends. Luo Siyi is one of the speakers.