A Fresh Look at the Sino-US Trade Dispute

来源: CHINAFOREX 2018 Issue 3 作者:Mu zhiqian

The Sino-US trade dispute has intensified of lateand the outcome is far from certain. Clearlythe stakes are high. At this delicate juncture we might take stock of what is driving this trade row. Both sides need to ask themselves what are they striving for? What are their core interests? And are their objectives completely incompatible with those of the other side ¡ª or is there room for accommodation?

Industrial upgrading is part of the global path to progress. The United States is at the forefront of the world's industrial countries. Naturallyit is a key player in industrial upgrading on a global scale. At the same timetraditional industries that require low levels of skills ¡ª and sometimes high degrees of pollution ¡ª have gradually shifted from advanced countries to developing economies.

The shift to more advanced manufacturing has created new opportunities. But economic development needs to deliver benefits to the manynot just the few. If the march to progress leaves most behindit cannot claim success.  In that context"Buy American" and "Hire American" are understandable sentiments.

The solution to the problems of development must be found in moving forward rather than retreating to the comfort of what has worked in the past. At the same timewe must realize that industrial upgrading is not always accompanied by an upgrading in the quality of the workforce. Workers who lose their jobs in traditional industries need retraining that can help them find new employment elsewhere. The tools to the jobs of the future need to be made available to those who might otherwise be left behind. To ignore that essential truth imperils global development.

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