Wu Fuxiang: Analysis on Sino-US Economic and Trade Friction

Release time:2019-01-30Author: Wu Fuxiang

Since the reform and opening up, Chinese manufacturing enterprises have successfully gone through a difficult but brilliant foreign economic and trade course by participating in international OEM and integrating into the international production system dominated by multinational corporations from developed countries. Although we are often blocked by the US trade protectionism, the goods that China export at present are not only high-quality and cheap, but also gradually entering into the high-end trade sector which was once the privilege of developed countries. In recent years, the trend of trade protectionism in the United States has intensified. The current economic and trade friction between China and the United States mainly focuses on high-tech industries, and its concentration is the key areas of "Made in China 2025". In a sense, this kind of economic and trade friction has a historical inevitability and will continue for a long time.Under the background of US trade protectionism, if China's manufacturing industry wants to achieve a fundamental breakthrough, it must be based on China's own endowment advantages and maintain strategic determination. At the same time, we should promote the industries according to the characteristics of the classification of industrial technology and combine the international features of technological innovation, high-end manufacturing, financial services, university education, key technology and military strength. Based on the Belt and Road Initiative, we should deepen the international cooperation on production capacity.