A Fresh Look at the Sino-US Trade Dispute
The Sino-US trade dispute has intensified of late,and the outcome is far from certain. Clearly,the 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. Naturally,it is a key player in industrial upgrading on a global scale. At the same time,traditional 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 many,not just the few. If the march to progress leaves most behind,it cannot claim success. In that context,"Buy American" and "Hire Amer