From the Readers
US needs introspection
(China Daily)
Updated: 2010-11-08 08:08
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Comment on "US' much ado about nothing" (China Daily, Nov 3)
The United States is back at its finger-pointing game. The only difference is that now it does so without giving an issue a second thought, and at times, without knowing what is actually going on.
US politicians are hijacking economic issues, national and political both, for political and personal gains, which will harm the Sino-US relationship.
The Sino-US trade surplus issue cannot be resolved through biased political measures. The trade balance is in China's favor because of the structural differences in the two countries' economies. US consumers need China-made products because they are cheaper. And they are cheaper because of the advantage China enjoys in the international division of labor and the global supply chain.
Even if the US were to restrict the import of China-made products, its consumers would find substitutes from countries like Vietnam, Thailand and Malaysia to replace them. So how will US companies gain?
China has been trying to correct the situation by revaluating its currency gradually and taking measures to boost domestic consumption. But the US prefers to turn a blind eye to these efforts.
The world knows that the global financial crisis originated in the US because of its slack financial regulatory regime and reckless commercialism. But the US has been blaming China for the ill-effects of the crisis. What Washington needs to do instead is take a good look at itself.
Gu Xiaoxia, via e-mail
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