shine trader live reports:
In the United States, a revisionist historical view of China’s rise has emerged. The theme of this statement is contact and failure. It says that the United States wants to help China achieve economic liberalization and social and national democratization after the cold war. Therefore, the United States decided to contact Beijing to induce it to abide by the rule-based international system and integrate its economy into the world economy. But such efforts by the United States have largely failed. China has no “liberalization” or “democratization”. Therefore, contact is a wrong attempt, although it was out of sincere goodwill that the United States created a “monster”. Now, the United States must take responsibility – it can only fight and restrain this “monster” and prevent it from threatening the world.
For Asians who have experienced this period of history, especially those from Hong Kong like the author, we can only turn a blind eye to this historical revisionist view of “contact”. This is an extreme selfishness.
In the 1980s and 1990s, Hong Kong shifted its entire manufacturing base to the mainland, focusing instead on services, finance and, of course, real estate.
The United States has done similar things, but driven by different socio-economic forces. In the 1980s, the United States had new ideas about its trade with Japan and its investment in Japan. At that time, Japan was rising to become the world’s second-largest economy. In order to counter Japan’s manufacturing industry, the United States encourages its enterprises to transfer all their manufacturing bases to developing countries with lower labor costs, the most important of which is of course China.
Facts have proved that this is very profitable for American multinational corporations. Many of the profits made by Chinese workers working hard return to the United States through the U.S. Treasury bond market. China provides loans to Americans so that they can continue to buy Chinese goods. At the same time, American capitalism became financialized. If you can make more money faster by capital flow, who will bother to make things?
At least since the first Opium War, Western powers wanted to occupy the Chinese market with huge profit potential. When the Communist Party of China opens up, of course, the United States and other countries will immediately invest in it. The problem is that the party has proved to be not an incompetent authoritarian, but an outstanding one. It has learned from its mistakes and those of others. It prefers its own “Beijing Consensus” to the “Washington consensus”.
This is a country pursuing its own interests, but in Washington, it is called non-compliance or challenging the rule-based international system. Don’t forget that the United States is the country that makes most rules, but it always violates them when it thinks fit.
Reprint indicated source：Spark Global Limited information