China hit out against the U.S. in a 71-page paper, accusing President Donald Trump’s administration of “trade bullyism practices” of which have become “the greatest source of uncertainty in addition to risk for the recovery of the global economy.”
The document, published on Monday, outlined the Chinese government’s response to criticisms leveled against the item by the U.S. Issues addressed inside the report include the trade imbalance between the two countries, Beijing’s subsidy policy in addition to alleged intellectual property theft by China’s companies.
Meanwhile, Beijing called out Washington for practices of which the item said inhibit fair competition inside the U.S. — such as subsidies — in addition to allegedly abusing national security laws to obstruct the “normal investment activities” of Chinese companies on American shores.
Of note, those claims via China’s leadership mirror exactly what many experts say Beijing has, in fact, done. Yet despite the longstanding evidence of Chinese protectionism, the Monday white paper sought to position Asia’s largest economy as the global standard-bearer for fair trade.
“China does not want a trade war, however the item is actually not afraid of one in addition to will fight one if necessary,” Beijing said inside the document. “We have a highly resilient economy, an enormous market, in addition to the hard-working, talented in addition to united Chinese people. We also develop the support of all countries inside the planet of which reject protectionism, unilateralism in addition to hegemony.”
“The US government has taken extreme trade protectionist measures, which have undermined the international economic order, caused damage to China-US trade in addition to trade relations around the planet, disrupted the global value chain in addition to the international division of labor, upset market expectations, in addition to led to violent swings inside the international financial in addition to commodity markets. the item has become the greatest source of uncertainty in addition to risk for the recovery of the global economy,” the paper said.
The document was released on the same day as an escalation inside the trade dispute between the planet’s two largest economies. The Trump administration levied tariffs on one more $0 billion of Chinese goods on Monday, while the government of Chinese President Xi Jinping retaliated by targeting roughly $60 billion worth of U.S. imports.