Experts on US-China Trade Tensions

CNC
Added On May 20, 2019

In the latest flare-up of U.S.-China trade tensions, Washington has increased additional tariffs on 200 billion U.S. dollars' worth of Chinese imports, forcing China to adopt similar countermeasures.

Experts warn of worldwide repercussions if the tensions drag on.
 
STORY: US EXPERT: US GOVERNMENT ACTIONS HURT AMERICANS
U.S. expert David Firestein said the tariff hike will hurt Americans.
 
SOUNDBITE 2(English): DAVID FIRESTEIN, Founding Executive Director, China Public Policy Center
"Many Americans feel that government is the problem. The federal government in the United States is taking actions that in many ways hurt Americans. And so the idea of how do we move forward in the U.S.-China relationship? I think this notion of people to people engagement, state to province engagement, city to city, business to business, private sector. It seems to me that this is where leadership and U.S.-China relations is going to come from as we go forward."
 
STORY: JAPANESE ECONOMIST: US TARIFF HIKES WILL AFFECT US ECONOMY
 
Japanese economist Kiyoyuki Seguchi said Washington's latest tariff action will affect the U.S. economy and put the global economy at risk.
 
SOUNDBITE 1(CHINESE): KIYOYUKI SEGUCHI, Research Director, Canon Institute for Global Studies
"The U.S. move will cause economic damage between China and the United States. In that case, firms in the U.S., both U.S. firms and foreign firms, will suffer a great blow, and they will face bankruptcy. Then some banks will decide to stop lending to these enterprises, which will cause lots of enterprises to go bankrupt. It will also lead to financial instability in the U.S., which could go global, and cause global financial instability around the world, and affect exchange rates. Exchange rate fluctuations will cause large-scale bank losses, large-scale bank losses may cause global financial crises, which is the worst-case scenario."
 
STORY: BELGIAN EXPERT: US TRADE POLICY "UNILATERAL"
 
Belgian expert Bernard Dewit called the new U.S. policy towards China "a unilateral policy" that shows disrespect for the WTO and for the international trade rules.
 
SOUNDBITE 1(English): BERNARD DEWIT, Chairman, Belgian-Chinese Economic and Commercial Council:
"Normally you should respect the mechanism of the WTO, when there is a conflict, you should pass through the mechanism put in place by WTO, so we are little bit afraid by the new policy in the United States which is a unilateral policy, and not multilateral, while on the contrary, China these last 20 years played more and more on multilateral basis, which I think is a good thing."
 
STORY: INDONESIA EXPERT: EXPORTS TO CHINA WILL BE AFFECTED
Indonesian expert Yose Rizal Damuri says the trade tensions will also have hurt other countries.
 
SOUNDBITE(English): YOSE RIZAL DAMURI, Economics Department, Center for Strategic & International Studies 
"The current tensions have already affected the global economy. In Indonesia, for example, around 10-15 percent of Indonesian exports to China are basically embedded into Chinese exports to the U.S.. So, if Chinese exports to the U.S. decline, as we are seeing today and expect in the future, then Indonesian exports to China will be affected too."