边锋茶苑这么充值| 波克棋牌手机版官网| 凯旋门电子娱乐平台| 最新捕鱼游戏手机版| 易购彩票娱乐| 中国足彩网彩票| 游戏茶苑大厅官方下载| 吉祥棋牌苹果| 新万博体育登录官网| 电玩捕鱼城| pt老虎机游戏推荐| 中国游戏在线| 微信棋牌游戏官网| 富途牛牛| 篮球滚球详细玩法| 边锋游戏三扣一| 联众麻将手机版下载| 易酷棋牌游戏| pk10计划专家在线计划| 伯乐彩票平台| 支持花呗充值的棋牌| 鼎盛国际娱乐彩票| 彩票到家手机版| 边锋3.0游戏大厅| 苹果手机棋牌游戏换现金| 东升彩票平台怎么样| 彩票娱乐平台购买| 缙云游戏中心官方下载| 麻将玩钱游戏下载| 球探网电脑版即时比分| 手机波克城市官方网站| 亲朋游戏短信充值中心| 新凤凰彩票网| 波克棋牌手机大厅| 齐齐乐棋牌官网下载| 华夏娱乐彩票平台| 28彩票娱乐| 联众天天斗地主手机版| 吉祥彩票官网首页| jj比赛大厅官方| 乐宝彩票下载| 边锋老友棋牌代理| 中国体彩app官方下载| 老虎机游戏下载大全| 德扑女王| 星空彩票app| 游戏茶苑大厅 手机版| 88赛马平台开奖| 杭州边锋游戏怎么下载| 掌中彩彩票| 波克城市旧版2015| 星光彩票怎么注册| 中国游戏中心大厅下载| 东升彩票手机app下载| 元游象棋游戏大厅| u9彩票电脑版| 下载游戏茶苑大厅| 广东省快乐十分开奖| 赚话费斗地主| 安徽边锋游戏大厅大pk| 九州彩票苹果版| 炸金花规则235| 明升m88备用网址| 欢乐年华彩票| 沈阳娱乐棋牌大厅下载| 8828彩票安卓APP| 线上美高梅体育| 035棋牌唯一官网| 注册电玩捕鱼送50金币| 足彩亚盘分析| 老虎机游戏币| 无限娱乐平台注册| 新中国象棋qq游戏大厅| 最大彩票注册平台| 优德体育开户| 扎金花棋牌下载| 边锋网络游戏世界双扣| cc彩票平台官网| 娱网棋牌官方下载安装| 波克棋牌游戏大厅| 星力捕鱼厂家| 爱博体育投注| 体育老师怎么才能当| 北京pk赛车开结果| 北京赛车盛源彩票| 新版的吉祥棋牌苹果版| 上海棋牌大厅下载| 2018象棋个人赛时间| 乐动国际娱乐| 极速分分彩开奖网| 千赢pt| 捕鱼赢10元可提现| 325棋牌游戏平台| 乐玩棋牌官网| 多多棋牌游戏大厅| 澳门龙虎软件| 888老虎机合集安卓版| 游戏茶苑大厅下载| 安徽边锋掼蛋手机版| 篮球场地规则| 任天堂娱乐账号注册| 彩票字迷汇总大全| 亲朋棋牌金币代理商| 波克捕鱼下载安装| 幸运彩票| 冠军彩票| 网上在哪买足彩| 利赢彩票网| 江苏快三下载| 吉祥棋牌苹果手机官网| 联众大厅手机版| 360彩票| 边锋棋牌游戏下载| 棋盘游戏大全| 快乐牛牛游戏官网| 杭州边锋游戏官网| 上游棋牌大厅下载| 嘴胡的玩法与下载| 球探网即时比分手机版本| 水果777老虎机安卓版| 棋牌开发| 英超盘口赔率汇总| 最新棋牌评测网| 德扑圈电脑模拟器| 名豪娱乐平台注册| 2018最新娱乐送彩金| 现金老虎机手机版下载| 大赢家足球实时比分| 棋牌游戏赢微信红包| 吉祥棋牌官方下载| 森林舞会游戏平台| 广东快乐10分人工计划| 龙虎投注方案| 新万博体育app苹果| 天游分分彩| 澳门足球即时倍率比分| 极速捕鱼电玩城| 蚂蚁彩票官网下载| 关于赛车牛牛| 体育竞猜开奖结果| ag亚游娱乐| 手机边锋网络游戏世界| 亚盘篮球滚球规则| 单机版老虎机游戏手机| yy彩票娱乐| 娱网棋牌网站多少| 联众象棋大厅| 真金棋牌游戏大全| 亲朋官网首页| 神州娱乐牛牛| 彩票在线app| 游戏茶苑游戏官网| 炸金花可提现| 捕鱼赚钱兑现支付宝| 千赢娱乐| 丽水茶苑官网下载| pk10北京赛车计划网站| 优信彩票app下载| 奔驰宝马游戏老虎机| 2018炸金花下载大全| 鸿运来彩票网| 棋牌游戏you可以提现金| 荣耀棋牌怎么提现金| 街机捕鱼注册送下分版| 扣扣游戏官网| 足球滚球| 亚盘分析平局技巧| 吉祥棋牌2014| 捕鱼达人2所有版本| 81彩票官网| 茶苑三公手机版下载| 斗地主真人版| 购买世界杯彩票的软件| 波克捕鱼| 网络游戏排行榜前十名| 华人娱乐彩票| 日博体育注册| 足球现金投注app| 内蒙穷胡麻将下载| 龙虎风云游戏下载| 乐赢彩票网| 博发彩票app| 电玩老虎机游戏大厅| 联众世界大厅下载安装| 微信投注平台| 乐享彩票平台注册| 微乐吉林棋牌手机版| 新凤凰彩票首页| 网站彩票投注员| 波克棋牌手机版官网| 万达娱乐平台下载| 所有捕鱼| 波克城市手机版官方下载| 茶苑休闲棋牌游戏平台| 利赢彩票网| 沈阳娱网棋牌官方下载| 网上足球投注安全| 新凤凰彩票首页| 万博体育app手机投注| 亲朋棋牌话费充值中心| yy彩票1960| 雷速体育app| 德扑圈最新版本下载| 信誉好的网上棋牌| 澳门彩票娱乐平台网| 网上棋牌现金平台| 龙虎平台代理| 快赢彩票平台| 0永久彩票| 大连滚子娱网棋牌| 钻石彩票登录网址| 波克城市游戏官方网站| 手机qq游戏欢乐斗牛| 21点游戏下载| 亲朋棋牌充值| 乐赢彩票| 吉祥棋牌2018| 88赛马开奖| 老虎机赢钱游戏平台| 支付宝能提款棋牌游戏| 50元可提现的手机电玩| 今日3d神算子| 炸金花棋牌游戏下载| 安徽掼蛋下载| 八星棋牌| 金祥彩票| jj斗地主金币怎么卖| 宁波棋牌游戏中心| 最新彩金老虎机平台| 亲朋棋牌官方下载游戏| 球深比分网即时比分007| 微信文玩群号大全| jj比赛大厅手机版下载| 快三app平台官网下载| 能提现棋牌游戏| 边锋老友棋牌代理| 水果连线老虎机游戏| 快乐炸金花小游戏| 联众世界手机版安卓启动器| 正版棋牌游戏| 如意彩票网| 微信牛牛娱乐棋牌| 边锋官网| 芜湖麻将| jj斗地主捕鱼下载| 途游游戏大厅官方| 沙巴体育| 仲傅娱乐平台| 新面对面棋牌游戏大厅| 扣扣游戏官网| 2018年最新老虎机平台| 合盛源彩票| 联众象棋手机版下载| 当乐游戏中心下载| 真人视讯网投| 九州平台体育投注限制| 手机下载波克城市| 大赢家777电玩城官网| 沙巴体育注册| 足球滚球的正规平台| im体育跟皇冠哪个好| 网络捕鱼电玩| 欧亿彩票登录| 500万彩票开奖结果查询| 安博电竞

America's False Narrative on China: Stephen S. Roach

Source: Xinhua| 2019-06-17 19:17:02|Editor: mingmei
Video PlayerClose
安博电竞 要切实降低民营企业税费负担,落实更大规模减税和更明显降费政策,确保民营企业负担有实质性下降。

BEIJING, May 17 (Xinhua) -- Stephen S. Roach, a senior fellow at Yale University's Jackson Institute of Global Affairs and a senior lecturer at Yale's School of Management, recently published a signed article on Project Syndicate, titled "America's False Narrative on China."

He was formerly chairman of Morgan Stanley Asia and the firm's chief economist.

The full text of the article is as follows:

America's False Narrative on China

In a rare moment of bipartisan agreement, America's Republicans and Democrats are now on the same page on one key issue: Blaming China for all that ails the United States. China bashing has never had broader appeal.

This fixation on China as an existential threat to the cherished American Dream is having serious consequences. It has led to tit-for-tat tariffs, escalating security threats, warnings of a new cold war, and even whispers of a military clash between the rising power and the incumbent global hegemon.

With a trade deal apparently imminent, it's tempting to conclude that all this will pass. That may be wishful thinking. Sino-American trust is now in tatters. The likelihood of a superficial deal won't change that. A new era of mutual suspicion, tension, and conflict is a very real possibility.

But what if the US chattering class has it all wrong and the China bashing is more an outgrowth of domestic problems than a response to a genuine external threat? In fact, there are strong grounds to believe that an insecure US - afflicted with macroeconomic imbalances of its own making and fearful of the consequences of its own retreat from global leadership - has embraced a false narrative on China.

Consider trade. In 2018, the US had a $419 billion merchandise trade deficit with China, fully 48% of the massive overall trade gap of $879 billion. This is the lightening rod in the debate, the culprit behind what US President Donald Trump calls the "carnage" of job losses and wage pressures.

But what Trump - and most other US politicians - won't admit is that the US ran trade deficits with 102 countries in 2018. This reflects a profound shortfall of domestic saving, owing in large part to the reckless budget deficits approved by none other than Congress and the president. Nor is there any recognition of supply-chain distortions - arising from inputs made in other countries but assembled and shipped from China - that are estimated to overstate the US-China trade imbalance by as much as 35-40%. Never mind basic macroeconomics and new efficiencies from global production platforms that benefit US consumers. Apparently, it is much easier to vilify China as the major obstacle to making America great again.

Next, consider intellectual property theft. It is now accepted "truth" that China is stealing hundreds of billions of dollars of US intellectual property each year, driving a stake into the heart of America's innovative prowess. According to the accepted source of this claim, the so-called IP Commission, in 2017 IP theft cost the US economy between $225 and $600 billion.

Leaving aside the ridiculously broad range of such an estimate, the figures rest on flimsy evidence derived from dubious "proxy modeling" that attempts to value stolen trade secrets via nefarious activities such as narcotics trafficking, corruption, occupational fraud, and illicit financial flows. The Chinese piece of this alleged theft comes from US Customs and Border Patrol data, which reported $1.35 billion in seizures of total counterfeit and pirated goods back in 2015. Equally dubious models extrapolate this tiny sum into an aggregate guesstimate for the US and impute 87% of the total to China (52% to the mainland and 35% to Hong Kong).

Then there is the red herring emphasized in the Section 301 report published by the US Trade Representative (USTR) in March 2018, which provides the foundational justification for tariffs levied on China: forced technology transfer between US companies and their Chinese joint venture (JV) partners. The key word is "forced," which implies that innocent US companies that enter willingly into contractual agreements with Chinese counterparts are coerced into surrendering their proprietary technologies in order to do business in the country.

To be sure, JVs obviously entail a sharing of people, business strategies, operating platforms, and product designs. But the charge is coercion, which is inseparable from the presumption that sophisticated US multinationals are dumb enough to turn over core proprietary technologies to their Chinese partners.

This is another shocking example of soft evidence for a hard allegation. Incredibly, the USTR actually admits in the Section 301 report (on page 19) that there is no hard evidence to confirm these "implicit practices." Like the IP Commission, the USTR relies instead on proxy surveys from trade organizations like the US-China Business Council, whose respondents complain of some discomfort with China's treatment of their technology.

The Washington narrative also paints a picture of China as a centrally planned behemoth sitting astride massive stated-owned enterprises (SOEs) that enjoy preferential credits, unfair subsidies, and incentives tied to high-profile industrial policies such as Made in China 2025 and Artificial Intelligence 2030. Never mind a large body of evidence that underscores the low-efficiency, low-return characteristics of China's SOEs.

Nor is there any doubt that comparable industrial policies have long been practiced by Japan, Germany, France, and even the US. In February, Trump issued an executive order announcing the establishment of an AI Initiative, complete with a framework to develop an AI action plan within 120 days. China is hardly alone in elevating innovation to a national policy priority.

Finally, there is the time-worn issue of Chinese currency manipulation - the fear that China will deliberately depress the renminbi to gain unfair competitive advantage. Yet its broad trade-weighted currency has risen over 50% in real terms since late 2004. And China's once-outsize current-account surplus has all but vanished. Still, the currency grievances of yesteryear live on, getting prominent attention in the current negotiations. This only compounds the false narrative.

All in all, Washington has been loose with facts, analysis, and conclusions, and the American public has been far too gullible in its acceptance of this false narrative. The point is not to deny China's role in promoting economic tensions with the US, but to stress the need for objectivity and honesty in assigning blame - especially with so much at stake in the current conflict. Sadly, fixating on scapegoats is apparently much easier than taking a long, hard look in the mirror.

KEY WORDS:
EXPLORE XINHUANET
010020070750000000000000011100001380670471
狮子机森林舞会 捕鱼电脑版 茶苑游戏斗牛牛手机版 亲朋游戏下载官网 最新棋牌游戏平台
银河国际城手机版 有没有好玩点的网游 经纬娱乐平台 边锋游戏大厅下载官方 棋牌类游戏代理 多宝彩票平台 好的手机捕鱼平台 捕鱼来了技巧