Trade war will continue because Made in China 2025 isn’t in the US’ – or Europe’s – interests
Legislative Councillor Holden Chow’s take on the trade tensions is one-dimensional (“Trump will not back down, but trade war will not bring manufacturing back to US”, October 1). He addresses the symptom but not the ailment. An article in Barron’s, a US financial publication, asks: “Should we disengage from China?” Some Americans now see as a compelling justification for the imposition of tariffs the likelihood that they will direct US business away from Chinese production and that supply chains will be moved.
What’s the beef with the ‘Made in China 2025’ strategy?
From this perspective the goal is not expanded or “fair trade”, but the disengagement of incompatible economic systems. Americans see that blindly enabling the “Made in China 2025” industrial strategy is against their own economic and political interests. It seems that Europeans and Japanese are forming the same opinion. Mr Chow implies that capitalists will chase profit, but the tide of pro-China political opinion seems to be turning in the Western democracies as China’s strategic planning is unveiled.
I.M. Wright, Happy Valley