日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
World
Home / World / World Watch

Time for US to return to rules-based trade order

By Wilson Lee Flores | China Daily Global | Updated: 2025-06-09 09:00
Share
Share - WeChat
A container truck and shipping containers are shown at the Port of Los Angeles, in San Pedro, California, US, May 13, 2025. [Photo/Agencies]

The world economy stands at a precipice. The reckless escalation of unilateral tariffs and trade wars — spearheaded by the United States — has not only destabilized global markets but also betrayed the fundamental principles of economic rationality and multilateral cooperation. The consequences are already manifesting: slowing growth, resurgent inflation and the specter of a US recession.

Meanwhile, China has consistently championed a rules-based international trade order, recognizing that mutual prosperity, not zero-sum conflict, is the only sustainable path forward. The truce that resulted from the US-China talks in Switzerland represents a critical opportunity to avert further damage — but only if Washington abandons its self-defeating protectionism and embraces pragmatic cooperation.

The economic consensus is unequivocal: Trade wars are lose-lose propositions. The West-led International Monetary Fund, the Organization for Economic Cooperation and Development and the World Bank have all warned that the Donald Trump administration's tariffs will inflict severe harm on the global economy, with the US itself among the hardest-hit. US businesses and consumers are already paying the price — container shipments from China have plummeted 60 percent, and J.P. Morgan predicts an 80 percent drop in Chinese imports by year's end. The inevitable result? Shortages, price spikes and economic contraction.

China, by contrast, has responded with calibrated restraint. While taking countermeasures against US tariffs to defend its interests, Beijing has also signaled openness to dialogue — provided it is based on "equality and mutual benefit", not coercion.

This measured approach reflects China's broader commitment to global stability and its high-level diplomacy, in stark contrast to Washington's shockingly erratic and unpredictable protectionism.

The US and China are the two engines of the global economy. Their trade relationship is not merely transactional but foundational to supply chains, technological innovation and financial markets. Severing this interdependence would be economically catastrophic — akin to attempting "decoupling" with a chain saw rather than a scalpel.

Consider the facts. First, supply chain collapse. The Port of Los Angeles reports a 35 percent drop in cargo volume, with canceled shipments rippling through US manufacturing and retail sectors. Second, market volatility. Wall Street's rebounds on news, or rumors, of positive developments in the US-China trade war underscore investor desperation for de-escalation. Third, global spillover. The IMF warned that escalating tariffs could slash global GDP growth by up to 1.5 percent — a disaster for developing nations already grappling with debt and inflation.

China's recent monetary stimulus measures — such as reserve requirement ratio cuts — demonstrate its capacity to stabilize its economy. But no nation, not even the US, can thrive in isolation. The only viable and sensible solution is cooperation, not confrontation.

History will judge this moment harshly if shortsighted, barbaric and jingoistic nationalism prevails. The world's two biggest economies, the US and China, are not destined for conflict; they are compelled by shared interest to cooperate. Trade wars are not just economically ruinous — they are morally indefensible, defy common sense, unfairly punish workers and small businesses, stifle innovation, and severely destabilize the global order.

China's stance is clear and has been repeatedly reiterated: It seeks partnership, not domination. Washington must now choose — between destructive, chaotic unilateralism, or a return to rational, rules-based trade. The world is watching, and the stakes could not be higher.

The author is an economics and politics analyst, an award-winning columnist of the Philippine Star and Abante newspapers, a book author, and a moderator of the Pandesal Forum.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 国产精品国产精品 | 日韩影音 | 毛片在线观看视频 | 婷婷黄色| 三级免费网址 | 亚洲免费在线视频 | 开心久久网 | 免费观看性欧美大片无片 | 亚洲综合在线视频 | 欧美日韩大片在线观看 | 亚洲久久久 | 成人深夜福利视频 | 亚洲精品中文字幕乱码一区二区 | 免费高清欧美一区二区视频 | 欧美鲁 | 国内精品久久久久久2021浪潮 | 五月婷婷综合激情网 | 香蕉久久夜色精品国产小优 | 久草资源总站 | 91婷婷韩国欧美一区二区 | 久草免费新视频 | 日本aⅴ在线 | 日本捏胸摸下面免费视频 | 中文字幕日本亚洲欧美不卡 | 91免费大片| 亚洲一二三区视频 | 九九视频九九热 | www.人人干 | 97碰碰碰 | 人人草视频在线 | 国产乱码精品1区2区3区 | 亚洲一一在线 | 日本一级高清不卡视频在线 | xxx 日本韩国 | 婷婷久久无码欧美人妻 | 成人性爱视频在线观看 | 亚洲欧美另类日韩 | 九九综合 | 亚洲毛片网站 | 婷婷天天操 | 毛片免费看电影 |