BEIJING, July 12 (INP): The zero-sum mentality displayed by the U.S. is against trade rules. It not only hampers China-U.S. economic and trade cooperation, but also brings great uncertainty to the global economy, says the media network, the Global Times.
“The U.S.’s goal of reducing trade deficits by tariff measures will by and large fail”, “Skirting WTO rules, the U.S.’s tariff measures will harm the rule-based international trading system,” the trade war initiated by Washington has been widely criticized by international media for its negative consequences.
The foundation for economic and trade cooperation is complementariness, not a zero-sum mentality. China-U.S. economic and trade cooperation is a vivid example of the theory that an open product, service and market will drive economic growth and promote the prosperity of a country.
As the world’s largest developing and developed country, China and the U.S. are different in terms of their development, economic structure and resources. These differences formed a highly complementary relationship that became a strong engine for cooperation.
A community of shared interests featuring deep integration and independence has been built by combining the American strengths in creating high-added value, research and development with China’s advantages in low-cost production and assembly.
The reality has proven that cooperation achieves win-win results while confrontation leads to lose-lose situations.
In 2017, China-U.S. trade volume reached $583.7 billion, which was 233 times the figure in 1979 when the two countries established diplomatic relations. A report released by the U.S. Business Council showed that U.S. exports to China have supported at least one million American jobs.
The experience of international trade has proven that unilateral protectionism is a game that neither helps solve structural problems of the initiator nor benefits global consumers.
The tough tariff measures against Chinese goods will only see more U.S. enterprises lose the Chinese market and miss opportunities brought about by a new round of reform and opening up in China.
Economic and trade cooperation propels common prosperity, not unbalanced development. China-U.S. cooperation is an important part of economic globalization. In 2017, the trading volume of commodities and services from China and the U.S. accounted for 10.4 percent and 11.4 percent of the world’s total, respectively.
Presently, stable investment and trade are especially needed for global economic recovery. The trade protectionism of the U.S. is bound to disturb international trade order and hinder economic globalization.
The trend of globalization means that the interests of countries are interrelated; therefore, building a community of shared destiny is necessary in today’s world.
As the largest developed economy in the world, the U.S. is obliged to conform to the times and adopt a win-win attitude. The opposite mentality is outdated, as countries are constantly moving forward and thus only a win-win concept can guarantee the sustainable development of all economies.
All living things can be nourished without injuring one another, while all roads are able to run parallel without interfering with one another. The zero-sum mentality, which puts U.S. interests above all others, is an outdated and backward way of thinking that should be abandoned.
The world is large enough to allow all countries to develop and prosper. Only by casting the zero-sum mind aside can the U.S. build better trade with other countries, bring more welfare to the people and create more development dividends.