Showing posts with label Trump. Show all posts
Showing posts with label Trump. Show all posts

Monday, November 07, 2016

China´s leaders lose little sleep over US elections - Zhang Lijia

Zhang Lijia
Zhang Lijia
China-bashing has been part of the US elections for ages, and in 2016 the ritual is the same, although China has become a much stronger force than in the past and the US candidates have failed to adjust their tone, writes author Zhang Lijia of the upcoming Lotus: A Novel. Few Chinese leaders lose sleep over the US elections, she writes for Aljazeera.

Zhang Lijia:
The Americans complain a great deal about China, accusing it of taking away their jobs and manipulating its currency. During the election campaign, the complaints only intensified. The Republican frontrunner Trump even accused China of "raping" the US and threatened to punish it. 
Being accustomed to the pre-election "China-bashing", the leaders in Beijing know that it is unlikely that the words will translate into action. They are closely following the election, which certainly poses an element of uncertainty to China and Asia Pacific region. 
 Although the pre-election anti-China rhetoric has remained the same over the years, what has changed is that China has grown more influential. The two most powerful nations on earth simply have to work together. Without their close cooperation, no meaningful progress can be achieved, be it anti-terrorism, climate change, or non-proliferation of weapons of mass destruction. 
Despite the vast differences, the cooperation between them has deepened in economics, trade, culture, science and global governess, except in the area of Asia-Pacific security. China regards the "strategic pivot" or "rebalancing" in Asia Pacific region as the US' effort to contain China and it is suspicious of the Trans-Pacific Partnership Agreement, which it is excluded from. 
The US pivot was welcomed by some countries, particularly Japan, Vietnam and Philippines, which have territorial disputes with China. 
Overall, however, Asian countries would rather focus on economic development than be forced to choose between China and the US. 
The pragmatic Asians prefer engagement to containment, especially at a time when China's stable, if slowing economy, has offered relief to its neighbours. Since 2005, Chinese imports from Asian countries have grown steadily. 
Perhaps being pragmatic is the best approach when dealing with an economic powerhouse. History has proved that US presidents usually softened their stance against China after securing their presidency. 
Even Clinton, hawkish as she is, sacrificed her principle when the economy looked dim. As regarding Trump, he is certainly far more unpredictable. But his shrewd business instinct probably wouldn't allow him to carry out the threats he has made against China if he did win. 
Besides, as China is shifting towards a more consumption-driven economy, it would be less at risk from the protectionist US. 
So I doubt the leaders in Beijing are losing much sleep over the election.
More views in Aljazeera.

Zhang Lijia is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers´request form.

Are you looking for more political experts at the China Speakers Bureau? Do check out this list.

Tuesday, March 29, 2016

Why Trump is wrong on China - Sara Hsu

Sara HsuRepublican presidential candidate Donald Trump has China high on his agenda, and not for the good. All wrong, writes financial analyst Sara Hsu in the Diplomat. The US needs to keep a positive relationship with China, she argues.

Sara Hsu:
The U.S. has spent decades building a positive relationship with China and Trump seeks to undo that. While some view Trump as “speaking the truth” that other politicians are afraid to divulge, educated Americans do not view China as a menace. The U.S. relationship with China was carved out or strengthened by business and trade ties, as American multinationals and businesses sought to set up shop in China, and as China heavily reduced trade barriers to accommodate an inflow foreign goods. China’s accession to the World Trade Organization, of which the U.S. is a major player, forced China to lower its trade barriers to foreign imports, which if anything presented challenges to China’s domestic economy (not America’s) as competition widened. 
Americans became accustomed to a consumption-based economy, much of it driven by inexpensive goods from multinationals producing in China. Prices of telecommunications and information technology declined, expanding access to high value-added, efficiency-boosting products for less. To some extent, in real terms, American incomes have been increased by cheaper production. 
Moreover, despite Trump’s and other politicians’ complaints in the U.S. that China’s currency is undervalued, it can be reasonably argued that the RMB is fairly valued. The IMF confirmed last year that this is the case, since despite a recent devaluation, the currency has appreciated in value since 2005. The flip side of China’s current account surplus with the U.S. is the massive accumulation of dollar-denominated Treasuries by China, yet American politicians do not argue that the dollar has an unfair advantage in acting as a global reserve currency. 
Trump’s position undermines the strong bonds between the United States and China. Even though reshoring of multinationals may benefit the U.S. to some extent, lobbing accusations against China and reversing the process of globalization will not stand politically or economically. Trump’s campaign website states, “when Donald J. Trump is president, China will be on notice that America is back in the global leadership business and that their days of currency manipulation and cheating are over.” This type of attitude scapegoats China for American economic woes, and assumes that somehow, the U.S. hegemon was duped by a nation transitioning from a command economy. 
Economic issues need to be addressed delicately by foreign policymakers, with the aim of maintaining an atmosphere of peace, cooperation, and economic growth. Donald Trump threatens to compromise the strong U.S.-China relations that have ushered in decades of prosperity for many American and Chinese citizens.
More in the Diplomat.

Sara Hsu is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers´request form.

Are you looking for more political experts at the China Speakers Bureau. Do check out this list.