UNITED STATES-CHINA FEUD
HAS SHAKEN THE WORLD: BLAMING EACH OTHER
China is still an export-led economy, and the American consumer is its largest customer.
The United States depends heavily on China for providing the low-cost goods that enable
income-constrained American consumers to purchase products with high qualities and value to
meet the demand. US depends on China to support its own exports, to provide funding for its
budget deficits because China is America’s third largest and by far its most rapidly growing
major export market.
America depends on China because of a fundamental weakness in the structure of the
United States economy. A profound and worrisome lack of domestic saving and the statistics
says that in the fourth quarter of 2017, the net domestic saving rate (depreciation-adjusted saving
of households, businesses and the government sector, combined) was just 1.3% of national
income. National income is important to make projections about the future development trend of
the economy, to help businesses to forecast future demand for their products and to make
international comparison of people’s living standards.
Life of all life depends on the resources to survive. It is impossible to conceive the world
in which there is absolutely no consumption of these resources. The use of such resources has
enabled humans to, not just to live but also to improve the quality of their lives. Lacking in
savings at home and wanting to consume and grow. The improvement in the quality of life is
what motivates the desire for continued economic growth. But President Donald Trump
continues to single out China as the villain in the great American tragedy, when in fact he should
take a careful look in the mirror because United States needs China More Than China Needs the
United States.
It’s not just economic ties between China and the United States that are in danger.
Europe, too, is increasingly talking of rolling back the deep trade and investment ties it has
developed with Beijing in recent decades even as it is cutting trade ties with itself, as the United
Kingdom leaves the European Union. Other countries are also pulling up the drawbridges all
leery that today’s unprecedented level of economic integration has gone too far, bringing more
pain and less gain.
The New York Times latest update on the United States-China feud over Coronavirus
outbreak erupts at World Health Assembly. China’s President Xi Jinping pledge $2 billion
dollars to fight the virus and dispatch doctors and medical supplies to Africa and other countries
in the developing world, a move that the United States criticized as an effort to head off scrutiny
of its handling of the pandemic. That was supposed to a chart a path for the world to combat the
coronavirus pandemic instead it turned out into a showcase for the escalating tensions between
the China and US over the virus. China’s aggressive diplomacy and international anger over
exports of Chinese-made medical equipment that turned out to be shoddy have also contributed
to the rising tensions.
Trump Administrations officials denounced China’s aid announcement as an attempt to
influence the WHO which is facing pressure from member states to investigate whether it was
complicit in Beijing’s lack of transparency in the early days of the outbreak in Wuhan. China’s
commitment of $2 billion is a token to distract from calls from a growing number of Nations
demanding accountability for the Chinese government’s failure to meet its obligations under
International Health regulations to tell the truth and warn the world of what was coming. Dali L.
Yang said this is a very tricky moment for Xi. Clearly he doesn’t want this really to be hanging
above him, given how many countries are engaged and have asked for an investigation into the
origins of the virus.
It is the people who ultimately lose, impacting poor people in awfully similar ways on
both sides of the ocean and that is the people not states who are making the greatest sacrifices to
try and keep each other safe. It is easy to feel disoriented when the leaders in Washington and
Beijing suddenly give lip service to cooperation. But what they will never do is come clean and
admit that they have pitted Americans and Chinese people against each other in artificial
position, fuelling an economic race to the bottom that only reinforces the power at those at the
top. Far from protecting us, fantasies about good life have distracted us and made us more
vulnerable; the coronavirus pandemic is demonstrating this in blood.
. China as the source of the outbreak has special responsibility to it but as the coronavirus
pandemic deepens, the Governments of two countries that have emerged as epicentres-The
People’s Republic of China and the United States have turned to a time honoured performance:
blaming each other. This rivalry shows lack of unity. Set aside the differences first because no
country can solve this problem alone. We must work together. This is the moment for us stop
thinking of each other from the perspective of the states we live under.