Beijing, Washington move closer to trade war as Donald Trump-led investigations target China
‘Washington consensus’ on China flips from encouraging engagement to retaliation and suspicion
US President Donald Trump’s mantra before and since his tour of Asia earlier this month touted the need for countries to accept each other’s unique characteristics to ensure prosperity for the world’s great civilisations.
The message of harmony might have offset discord caused by Trump’s harsh criticism of multilateral trade and investment deals during the trip. When it comes to civilisation, however, the course in Washington appears set for a clash rather than cooperation and mutual respect.
Amid a push by lawmakers to apply greater scrutiny to Chinese investments in the US, multiple investigations launched by Trump’s administration targeting China threatened to destabilise Sino-US close economic and cultural ties, which have underpinned prosperity for the Asia-Pacific region for decades, trade officials and analysts interviewed by the South China Morning Post said.
At one time, a “Washington consensus” had assumed closer economic integration with China would encourage Beijing to open its markets and provide greater opportunities for foreign companies. That agreement has now changed. Many policymakers in the US capital today say carrots are useless when it comes to dealing with China.
Republicans and Democrats now are wielding sticks.