Beijing slams WSJ of sensationalizing ’China starting new trade war’

Global Times: We noted that a recent article released by a US media outlet commented that China’s increasing investment in manufacturing will exacerbate overcapacity, squeezing businesses around the world and raising the specter of a new global trade war. What’s your comment? Lin Jian: We noted the report. The popularity of “made in China“ worldwide is the result of persistent investment in research and development and cultivating comparative advantages rather than subsidized dumping, still less cornering the market through protectionist measures. With our full-fledged industrial chain in manufacturing, we have helped keep the global industrial and supply chains stable and turbocharged technological progress and industrial upgrade in the world. For 15 years running, the global market share of China’s exports of goods has ranked first and that of China’s imports of goods has ranked second. It is widely considered that China has played an important role for the steady and sound growth of the global economy. Whenever the US is in trouble, some Americans and media outlets in the country will scapegoat other countries to divert the attention. This is not uncommon. The US has adopted the Inflation Reduction Act to resort to discriminatory subsidies, kept impeding the appointment of new judges to the WTO’s Appellate Body, and arbitrarily imposed high tariffs on goods from other countries. Facts show clearly that these US practices are the biggest source of concern for a new round of trade war in the world. Statistics also speak loudly. Last year among WTO members, the US alone submitted 454 notifications about technical barriers to trade, more than the combined number of the five members following the US. By resorting to protectionism, the US will not be able to reap the benefit alone but will only lose the opportunities for mutually beneficial cooperation. Over the years, China’s growth has been deeply connected with global development. Going forward, we will further expand high-standard opening up and foster new driving forces for global growth. An open China embracing cooperation will consistently provide opportunities to the world. __________________ ShanghaiEye focuses on producing top-quality contents. Nobody knows SHANGHAI better than us. Please subscribe to us ☻☻☻ __________________ For more stories, please click ■ What’s up today in Shanghai, the most updated news of the city ■ Amazing Shanghai, exploring the unknown corners of the city, learning the people, food and stories behind them ■ What Chinese people’s lives are like during the post COVID-19 period ■ Views of foreign scholars on China and its affairs ■ Foreign faces in Shanghai, people living in this city sharing their true feelings ■ Mini-docs showing why China is the country it is today __________________ ☎Leave us messages if you have any suggestions or questions! Thank you!