The U.S. is the real "economic coercer" by acting as a "trade bandit"
Putdate:2023-05-23     Views:    

BEIJING, May 22 (Xinhua) -- The United States is the real "economic coercer"

Xinhua News Agency reporter Deng Xi

At the recent G-7 Hiroshima Summit, the United States provoked its allies to carry out "economic coercion" in the name of opposing "economic coercion", increasing global economic risks in the name of so-called "de-risking", creating exclusive small circles and disrupting the stability of the international production and supply chain. In the name of so-called "de-risking" to increase global economic risks, to create exclusive small circles, disrupting the stability of the international production and supply chain. International observers believe that the U.S. is the real "coercer" who manipulates the politicization and weaponization of economic and trade relations by engaging in unilateral sanctions and "decoupling and breaking the chain".

Make your own rules, violate them yourself

Since the beginning of the Trump administration, the priority of U.S. trade and industrial policy has been to relocate manufacturing production back to the United States. Since Biden took office, this approach has been further pursued. To this end, the U.S. has ignored trade rules and the interests of other countries, introducing the Inflation Reduction Act and the Chip and Science Act, among others, and using economic policy as a weapon to pursue protectionism.

Adam Posen, director of the Peterson Institute for International Economics, pointed out that both U.S. administrations ignored the interests of other countries and attacked international trade and investment as detrimental to the U.S. economy and national security, when in fact the rules of the system were previously set by and for the benefit of the United States. The Biden administration, along with members of Congress from both parties, has sought to take manufacturing away from other countries in a zero-sum manner.

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