Translated by: MOS Education Team – Wugangbuwei
For a long time, the Chinese Communist Party government has provided trading subsidies for the strategic industries in China to ensure the competitive strength of the country. The Biden administration claims that the Chinese policy of trading subsidies has skewed the market competition, and plans to launch an investigation on whether to sanction China.
Officials in the Biden administration including the Trade Representative, Katherine Tai, and the Commerce Secretary, Gina Raimondo, will discuss in the afternoon to assess the subsidy policy of communist China and start a new investigation, and quantify the damages on the U.S. economy. In addition, the U.S. is also teaming up with Japan and E.U. to speed up the development of international rules.
The U.S. government condemned the policy of the industrial subsidies of Communist China constantly, but no effective actions have ever been taken, which led to the enormous Sino-America trade deficits. In the current mounting tension between Communist China and the U.S., the U.S. economic sanctions against Communist China will cause widespread concern.
(This article only represents the author’s point of view)
Edited by: Lightyear
Posted by: Lightyear
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