从日美贸易摩擦看中美贸易发展趋势_公共英语阅读理解

从日美贸易摩擦看中美贸易发展趋势

The trade war the US is initiating against China seems to be escalating much faster than the one it initiated against Japan. This is due to the extent of China-US economic relations. Since China's accession to the WTO in 2000, its external economic engagements have substantially increased, thanks to China's comparative advantages in labor, land, and resources, which contributed to economic recovery from the global crisis. Though China and the US have had their share of trade disputes in the past regarding photovoltaic and tire imports, the US recognized China as an important market which has made great strides in compliance with international trade laws. The Trump administration pursues the America First policy, and made reducing the trade deficit a prime target. Not surprising that China, as the fastest growing manufacturing power, and the largest source of the US trade deficit, has been bearing the brunt of protectionism-driven trade policies. What's more, the US is challenging the development model, market opening and industrial policies of China, with the ultimate goal of making China accept US trade policies, which is not acceptable to the Chinese government. China's development model and industrial policies are tailored to its development stage and market structure. Though it is not above improvement, it is being constantly refined, which is a process rather than an event. It is wishful thinking that the US can impose change on China, as China's industrial chain is highly integrated with the global chain and the US can ill-afford to disengage with China. After the mid-term elections, both sides should seriously strive to turn trade relations around. Though the tariffs are not likely to end, some initial improvement or stopgap measures could stabilize markets a bit.