Former US Treasury Secretary Appealed To Us To Ease Export Controls On China

Henry Paulsen and Robert Rubin, the former US Treasury Secretary, called this week on the United States and China to seriously consider each other's criticisms of their country, saying that the United States should relax China.

China should further open up and allow the private sector, including US companies, to compete.

In addition, Paulson and Lubin also published the joint signed article "why the United States needs to listen to China" in the the Atlantic monthly magazine, explaining the US China economic cooperation, and pointed out that the US China relationship has always included cooperation and competition, but recently the competition side has received more attention. Many distrust between the two countries stems from the geopolitical tension, such as China's behavior in the East China Sea and the South China Sea, as well as the United States approaching reconnaissance in China's offshore waters. Besides, the tension of economic relations is also one of the reasons.

The article pointed out that when the United States and China were discussing economic issues, they often first expressed their dissatisfaction with the other side, such as the US criticizing China's exchange rate management, subsidizing state-owned enterprises, and setting up barriers for the operation of American companies in China.

Accusing the US of Chinese Enterprises

US companies and infrastructure are politically obstructing and limiting the potential export of military technology.

To a large extent, the two countries are carrying out the "deaf dialogue", accusing each other, forcing the other side to agree to their demands and waiting for the other party to take action first.

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According to the April foreign trade data, the macro research department of China Merchants Securities commented that the import data in April showed that domestic demand was still weak, and the real economy needed macro policy support.

Everbright Securities Research Report believes that the weakness of external demand brings greater pressure to relax domestic policies, and the capital market will continue to enjoy the promotion of loose liquidity.

The weak external demand has brought more downward pressure on the sluggish domestic economic growth momentum.

Considering that economic growth is already at the edge of instability, policy will face greater pressure to relax.

Recently, policy makers have also stepped up their attention to the downward trend of the economy and fiscal policy will exert strength.

In fact, after the announcement of foreign trade data in April, the government has expressed a clear concern about the whole year's foreign trade situation.

Sun Jiwen, spokesman of the Ministry of Commerce, said on the second day after the publication of the data that the steady growth of foreign trade is related to industrial development, stabilizing employment and improving people's livelihood, which is related to China's overall economic and social development.

"Imports fell substantially in the first 4 months, mainly due to falling commodity prices."

Sun Jiwen pointed out.

According to Sun Jiwen, recently, the Ministry of Commerce organized the research team to conduct research on the foreign trade situation in 15 provinces (autonomous regions and municipalities), conducted a questionnaire survey on nearly 6000 foreign trade enterprises in 31 provinces (autonomous regions and municipalities), conducted in-depth interviews with 80 fair trade exhibitors, and made a careful analysis of 66 key industries and the top 30 export markets.

Sun Jiwen stressed that, in general, most enterprises believe that the main difficulties facing the international market are the low demand in the international market, the turbulence in some markets, the significant appreciation of the renminbi in the main currencies outside the US dollar, the need to raise the level of trade facilitation, the difficulty in raising capital and the continuous rise in labor costs.

In view of the plight of foreign trade, China's foreign trade situation report (spring 2015), which was released by the Ministry of Commerce, has been quite effective for the whole year's foreign trade situation.

The report suggests that in the coming period, China's foreign trade development is facing many challenges, such as the sluggish external demand, and the international market share is at a relatively high level. China's foreign trade may remain at medium to low speed growth.

The report holds that in 2015, the world economy will continue to have a mild recovery trend, with more uncertainties and uncertainties and more intense international competition.

China's economy has started smoothly, structural adjustment has been steadily advancing, and new impetus has been accelerated, but it still faces downward pressure.

China's foreign trade, especially its exports, has the basic conditions for growth. However, the seriousness and complexity of the situation have not changed fundamentally. There are many unstable and uncertain factors, and the challenges and pressures are still increasing.

"International finance daily" reporters found that in order to slow down the worsening import and export trend, the State Council has issued a number of foreign trade steady growth policies since April.

In the middle of April, a number of opinions on improving port work and supporting the development of foreign trade, such as mid April, put forward the need to expand port opening and raise the level of opening up; in May 7th, the State Council issued the "opinions on vigorously developing e-commerce to speed up the development of new economic power", proposed strengthening international cooperation in e-commerce, and promoting e-commerce to go out; and in May 12th, the newly released "opinions on accelerating the development of new advantages in foreign trade competition" put forward clear requirements for fostering new competitive advantages in foreign trade under the new normal.

In addition, according to the report of the Chinese government network, at the executive meeting of the State Council, which was held at the end of April this year, Premier Li Keqiang asked the authorities when they could implement the pilot on lowering tariffs on some foreign consumer goods. The head of the Department replied that it could be implemented in August, and Premier Li Keqiang explicitly demanded that it be implemented before the end of June.

It is understood that in addition to the decision to lower import tariffs before the end of June, the conference also put forward policies such as improving the consumption tax policy for consumer goods such as clothing and cosmetics, adding and restoring duty free shops at ports, further promoting customs clearance and tax rebate for overseas visitors, accelerating the upgrading of Chinese brand products, supporting the development of physical stores, and realizing interaction between online and offline businesses.

Some experts say that lowering customs duties and consumption tax on some foreign goods will help people to return their consumption.

For a long time, the problem of "high temperature and high consumption" has always existed, and the price gap is the main reason.

The government's immediate adoption of tax cuts may soon produce positive results.