欧美精品在线第一页,久久av影院,午夜视频在线播放一三,久久91精品久久久久久秒播,成人一区三区,久久综合狠狠综合久久狠狠色综合,成人av一区二区亚洲精,欧美a级在线观看

Commentary: Why the U.S. tariff threat is futile

Source: Xinhua| 2018-08-09 15:24:02|Editor: xuxin
Video PlayerClose

by Xinhua writer Liu Jie

BEIJING, Aug. 9 (Xinhua) -- Trade conflicts are nothing new in U.S. economic history, and they invariably go through the same tired cycle. Initially the United States intended to limit competition and bulwark its economy, but quickly ended up damaging the wider economy.

The Great Depression of the 1930s is a perfect case in point. Under economic pressure, President Herbert Hoover signed the Smoot-Hawley Tariff Act into law, increasing tariffs on more than 20,000 imported goods, which soon drew retaliatory duties from several outraged U.S. trading partners. Consequently, the U.S. imports and exports slumped by more than 60 percent, exacerbating the depression and damaging the global economy.

In the past three decades, U.S. trade conflicts focused on several areas, including bananas, wood, steel and tyres. But higher tariffs on those goods never fixed the U.S. economy, and instead made all parties worse off.

What's past is prologue.

The United States has launched the largest trade war in economic history. To "make America great again," it hopes to eliminate the trade deficit with China as it deems it detrimental to the U.S. economy.

However, China and the United States give very different numbers on what the trade deficit actually is. According to U.S. Census Bureau data, the trade deficit with China ran to a record 375 billion U.S. dollars in 2017, while China's customs calculates the country's surplus with the United States at 275 billion dollars.

"Statistical discrepancies have inflated the U.S. calculation of its trade deficit with China by about 20 percent every year," according to Zhong Shan, China's minister of commerce.

An iPhone, for example, plays a significant role in skewing the apparent U.S. trade deficit with China. On the surface, the deficit appears to be 375 billion dollars, with the iPhone series alone accounting for around 4.4 percent of that, but the true figure is far lower.

Because iPhones are assembled in China, the headline numbers count almost the entire manufacturing cost of an iPhone, while in reality very little of that money is spent in China.

According to IHS Markit, an iPhone's components cost a total of 370.25 dollars. Of that, 110 dollars goes to Samsung Electronics in the Republic of Korea (ROK) for supplying displays. Another 44.45 dollars goes to Japan's Toshiba Corp and the ROK's SK Hynix for memory chips.

Other suppliers from the United States and Europe also take their portion, while assembly, by contract manufacturers in China like Foxconn, represents only an estimated 3 to 6 percent of the manufacturing cost.

In this typical case, is it fair to claim that China seizes all the trade surplus in its iPhone exports to the United States?

The United States has a problem, but it is not with China, it is at home, according to Joseph Stiglitz, a Nobel Prize-winning American economist. "America has been saving too little," he wrote in his recent article, indicating that U.S. policymakers should do what they could to increase national savings for reducing the multilateral trade deficit if they had a whit of understanding of economics and a long-term vision.

He said that significantly reducing the bilateral trade deficit in a meaningful way would prove difficult, and that China's overall trade balance, like that of the United States, was determined by macroeconomics.

The U.S. imposition of tariffs on 50 billion U.S. dollars of imports from China has already backfired.

The U.S. overall trade deficit increased 7.3 percent in June, according to the U.S. Commerce Department. It is on track to hit a 10-year high.

Spanning nearly 40 years of diplomatic relations, trade conflicts are nothing new between China and the United States. History has shown the two countries have never run short of meaningful ways to navigate choppy waters.

One conflict dates back to the 1980s when the two economies became fractious over textiles. After the two sides settled an agreement through negotiation and Chinese businessmen even opened textile mills in the United States, the textile industry actually became a terrain that had created more manufacturing jobs in the United States and generated more cooperation than confrontation.

History and statistics have shown that waging a trade war is futile in the end. All the United States needs is to make a wise option.

KEY WORDS: Trade
EXPLORE XINHUANET
010020070750000000000000011100001373787641
主站蜘蛛池模板: 亚洲一级中文字幕| 99爱精品在线| 99视频一区| 国产二区精品视频| 日韩免费一级视频| 少妇特黄v一区二区三区图片| 久久99亚洲精品久久99| 91麻豆国产自产在线观看hd| 九九精品久久| 欧美日韩卡一卡二| 国产无套精品一区二区| 日韩欧美多p乱免费视频| 欧美精品粉嫩高潮一区二区| 国产精品欧美一区乱破| 亚洲精品456在线播放| 国产一区二区精品在线| 好吊色欧美一区二区三区视频| 国产69精品久久99不卡解锁版| 亚洲美女在线一区| 在线精品视频一区| 99视频国产在线| 午夜精品在线播放| 午夜少妇性影院免费观看| 狠狠插影院| free性欧美hd另类丰满| 精品国产一区二区三区久久久久久 | 激情久久久久久| 爽妇色啪网| 国产一区二区大片| 夜夜精品视频一区二区| 热re99久久精品国99热蜜月| 97涩国一产精品久久久久久久| 欧美日韩一区二区高清| 国产在线观看免费麻豆| 精品一区二区三区视频?| 国产精品欧美久久久久一区二区| 欧美一区二区三区在线视频观看| 日本一区二区欧美| 亚洲国产精品一区二区久久hs| 欧美精品在线观看视频| 国产精品久久久久久久久久久久冷| 另类视频一区二区| 日本一二区视频| 国产www亚洲а∨天堂| 国产精品视频二区不卡| 欧美日韩一区二区三区不卡| 国产一区二区三区午夜| 免费看性生活片| 国产69精品久久久久久久久久| 日韩av一二三四区| 免费毛片a| 亚洲精品97久久久babes| 国产精品1234区| 日本神影院一区二区三区| 日本一级中文字幕久久久久久| 久久99亚洲精品久久99果| 久久精品欧美一区二区| 91精品国产九九九久久久亚洲| 国产伦精品一区二区三区免费迷| 日韩av在线播| 国语对白老女人一级hd| 国产精品久久久久久久久久久久冷| 国产精品视频久久久久久久| 欧美3p激情一区二区三区猛视频 | 一区二区三区国产精华| 久久亚洲精品国产日韩高潮| 国产videosfree性另类| 欧美日韩九区| 国产精品一区二区免费视频| 国产日韩欧美精品| 四虎久久精品国产亚洲av| 欧洲激情一区二区| 日韩精品一区二区亚洲| 久免费看少妇高潮a级特黄按摩| 精品在线观看一区二区| 99久久夜色精品国产网站| 国产一区二区麻豆| 99久久国产综合精品麻豆| 欧美日本一二三区| 97人人揉人人捏人人添| 热久久国产| 午夜在线看片|