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US administration can't keep its hands out of the market

chinadaily.com.cn | Updated: 2019-06-04 20:47


Editor's note: If development of the United States is a miracle, then one of the sources for the miracle is the result of international division of labor. Zhong Sheng, a columnist for People's Daily, comments:

The US once stood out for its role in the formation of a free global market and the international division of labor, and its adherence to fair competition was once viewed as a value coordinate the US was proud of. However, some US politicians seem to have forgotten where they came from, and are becoming desperate to shackle the "invisible hand" of the market with their "omnipresent overbearing hands".

For example, US intelligence officials frequently hype up unwarranted business risks in China, the US government departments try all available means to block Chinese enterprises in the name of "national security", and even pressure allies to restrict Chinese enterprises. Such behavior has openly abandoned the concepts of "openness, liberty, and fair competition" once advocated by the US itself, and completely destroyed the US' self-trumpeted image of being a defender of fair competition.

In response to US Secretary of State Mike Pompeo's argument that "passing information to the Communist Party of China would pose risks", even some US media outlets said the US government has no evidence to prove its allegations of "theft of technology from US companies and espionage activities" against Chinese companies. On the contrary, the US National Security Agency's Prism program showed the US government conducted clandestine surveillance of its citizens and others outside the US.

Washington's "targeted crackdown" on Chinese high-tech companies reflects the hypocrisy of some US politicians: Trade liberalism is about giving the US liberty while ensuring other countries have nowhere to go.

As the biggest beneficiary of the international division of labor and the major creator of world trade rules, the US has benefited most from economic globalization. However, US politicians resort to free market rules when they are favorable to the US and desert them when they believe they are unfavorable. In doing so, they forget that without fair play the US risks losing a healthy future.

The market order featuring fair competition and win-win cooperation has become more and more recognized, and all countries should realize their significance and value.

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