Sino-U.S. trade friction in Obama's 1st year
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It has been a year since Barack Obama took office as US president. During that time a lot of effort has been made by both sides to cultivate a strong China-US relationship, including July's Strategic & Economic Dialogue, and Obama's visit to China in November. However, a pick-up in trade friction cast a shadow on economic and trade ties between the two nations. One expert says further efforts are needed in his 2nd year in office.
An unprecedented economic crisis is bringing two of the world's largest countries closer. President Obama declared a new era of "cooperation, not confrontation" with China. He says "the relationship between the United States and China will shape the 21st century, which makes it as important as any bilateral relationship in the world".
The two countries made considerable progress in collaborating efforts to fight the global economic crisis. Both countries adopted massive stimulus policies quickly to overcome the economic downturn. But bilateral trade become a thorny issue threatening bilateral economic ties. A Chinese expert accuses the Obama Administration of sparking trade protectionism.
Professor Zhou Shijian, from Tsinghua University, said, "Since 1980 to 2008, each year there were nearly 10 cases, but last year, there were 30 cases. For each case, there were so much value. The anti-dumping measures and countervailing duties are at record high."
The expert is expressing concern that the Obama Administration would come up with more trade protectionism policies and impeding future economic cooperation.
Professor Zhou said, "Congress election, and high unemployment in the US are two factors that will lead to more protection against China... "
Experts say trade protectionism will only serve to hurt the interest of both people. It will not increase the US's competitiveness in certain industries, but harm the interests of US consumers. The expert suggests President Obama should consider lifting the US control on high-tech exports in his latest economic polices. It will promote US exports to China and address the imbalance of trade between the two countries.
Professor Zhou said, "The EU has released so many high technology to China...it will lift the export, more commodities, equipment and technology export to China. These technology exchange will be mutual benefit to two countries. "
Expert say in the past year progress has been made in the fields of energy and environmental protection. This cooperation is mutually beneficial, and should continue in Obama's second year in office, because a good China-US economic relationship is crucial amid the sweeping economic chill around the world.
BARACK OBAMA said, "The relationship between the United States and China will shape the 21st century, which makes it as important as any bilateral relationship in the world."
