儿歌简谱,尖峰对话 | 斯蒂芬·罗奇：我有必要站出来说句公道话 美国贸易赤字不怪我国（下篇）,动物交配视频
续上篇：《尖峰对话 | 斯蒂芬罗奇：我国人未来养老，不能盼望房子，也不能盼望孩子（附英文原版）（上篇）》
You’ve said, trade imbalance isn't really what divides the two sides, it is more of a clash between two systems, but China儿歌简谱,尖峰对话 | 斯蒂芬·罗奇：我有必要站出来说句公道话 美国交易赤字不怪我国（下篇）,动物交配视频 and America are locked in a codependent economic relationship. Is it possible that the two countries getting rid of dependence of each other? If that, what will happen?
I think there is definitely solution. The point I made on trade imbalance were really misusing this large bilateral trade imbalance as a problem. That is a symptom, it’s not a problem. It is a symptom of American’s lackingqldyx of saving. When you don’t save, we have the lowest domestic saving rate than major economies in history as a leading economy. If you want to grow without saving, you have to import surplus savings from abroad run current account and multilateral trade deficit to attract the capital. That’s simple economics.
I think the trade imbalance is actually a battle between two systems over intellectual property rights, technology transfer,傅莹与天边的故事假的 and cyber security. Those are the deeper issues. So I have looked at all on the evidence儿歌简谱,尖峰对话 | 斯蒂芬·罗奇：我有必要站出来说句公道话 美国交易赤字不怪我国（下篇）,动物交配视频 that US presented in its initiat儿歌简谱,尖峰对话 | 斯蒂芬·罗奇：我有必要站出来说句公道话 美国交易赤字不怪我国（下篇）,动物交配视频ing tariffs. And my conclusion is people really unhappy with me in US in saying this is that we don’t have good evidence to support this. The point is this becomes the political battle and the politicians don’t care the evidence is strong or weak, which is too bad. So we will never be able to solve this if China says we are right and you are wrong or US says we are right and you are wrong. That’s just not the way to solve this.
I think there are four things we need to do that will ultimately address the conflict which becomes worse and worse by the day:
Firstly, I personally think the charges that have been raised on forced technology transfer by US against China are wrong. But it doesn’t matter what I say. It requires compromise. Recently the US has tightened up oversight on foreign acquisition of the US companies under the revised CFIUS Legislation which was passed last su极乐宫mmer. We have to back down and change that. So both sides have to give, more briefly.
Secondly, both the US and China need to do a significant macro adjustments to deal with saving imbalance of the US who have to command to building its saving, largely through addressing budget deficits. In china we have to commit to reducing the surplus savings to build up social safety net. The saving adjustments are key to eliminating trade imbalances. I told you earlier the trade issue is a phoney issue. Because it’s a reflection of our savings problem. So what’s taking that off the table, by saving more.
Point three is cyber. We need to take the lead, and promoting a global cyber security accord. Global, not bilateral. When you have matrics to reduce cyber tax, clear goes, and you set up a dispute and resolution mechanism, like we have in the WTO. We should model global cyber security accord around the lines of existing multilateral global institution.
My 4th point is the dialogue between the US and China. We start it out in the modern system with President George W Bush, setting up the strategic economic dialogue in every twice year. And then the President Obama, w儿歌简谱,尖峰对话 | 斯蒂芬·罗奇：我有必要站出来说句公道话 美国交易赤字不怪我国（下篇）,动物交配视频e changed it, the strategic and economic dialogue only met once a year. And then President Trump, we have one meeting and he changed the name as that comprehensive economic dialogue. What are the strategic dialogue, and strategic and economic dialogue, and comprehensive economic dialogue? They don’t work. Because the leaders just come together one or twice a year and 儿歌简谱,尖峰对话 | 斯蒂芬·罗奇：我有必要站出来说句公道话 美国交易赤字不怪我国（下篇）,动物交配视频then they go home. We have dinner parties in Florida, in BJ, in Buenos Aires. That is just not the way to do it. So my 4th suggestion is we need a permanent organization, I called the secretary, where you have a permanent step in the US and泡良网 China. The offices are set up in a mutual territory, who knows where, London, usually a place of that. They work continually on joint policy issues, sponsor joint research, and joint dialogues. It is more of a permanent arrangement. So that’s my point, bilateral investment treaty, savings, cyber, and dialogue.
How do you think about Trump Administration’s performance?
The risk right now is that the world opinion has really shifted dramatically against to China. It’s very clear to me that I should stand up a lot, and try to provide what I think is the balanced assessment of China’s position, in areas we’ve talked about today, like technology, innovation, bilateral trade, and trade tensions. You know it’s not working. People don’t want to listen. Their mind has made up. People have made of their minds in the west, especially in the US, that China is trying to do damage to the US. We蒸盒号之歌 have a long history of not being able to really understand China and many other countries and ourselves. We have problems. The politicians, this is not just in the US, but the US takes it further than others. We have problems that we blame others. That’s what politicians do. So you look at the US, what’s happening in the US? Manufacturing jobs go down. We have a bit trade deficit.
Now 2018 marks the 40th anniversary of China’s reform and opening up. In your book, I actually read your book. In your book “imbalanced, the codependence of America and China”, which is a fantastic book, you studied the main drivers of this growth miracle of china from both China and America perspective, which is very impressive, would you please give us郑自立 some detailed introduction of those drivers?
Really in the late 1970s was a bad shape and I write my book about what it took to grow its spectacular nearly 10% rate over 40 years.
The last 40 years is not easy for Chin剪盲肠a, it took a lot of courage by leaders and by the people to transform the economy. I gave enormous credit to the senior leaderships, especially to Mr Deng Xiaoping but to many of the ministers and policy makers were parts of conceiving the strategy based on a large part of exports and investments, infrastructures, investment in manufacturing capacity.
China was particularly thoughtful and took great risk in committing itself in the WTO accession in early 2001 and there were number of critical reforms required to come to terms with the United States and other members of WTO and the world is just at the time that global trade was taking off and so China was fortunate as well as determined strategic to push ahead into a who’s now a leader of global trade. It is just a time when global trade as share of the world GDP was accelerating very sharply. So it was a powerful combination and fortunate combination of events create this growth miracle.
The anniversary of 40 year’s reform and opening up is really an important and extra船问网ordinary development i衡东阳赞云n the history of China. It’s an extraordinary testament that all occurred sky124in a very very short period of time. However, it is important not just to celebrate what is happened without paying great attention to how difficult it was going to be in the next 40 years.
There is no good transition model yet as Prof. Spence mentioned in our recent interview. China has experienced more than 40 years, rapid economic development, accumulated plenty of data. Do you think these kind of data can be applied or used by well-trained economists to develop some inspiring new economic theory on the concept of "development” economy ?
When the developing economy moves from low income into middle income zone and we call this as middle income trap. This is a big issue for China right now. What it takes to make transitions to avoid the trap? There are a lot of different theories. The one which I focus on most is one of shifting from imported to indigenous innovation. Asia moving up the development curve, clearly it is always upgrade the innovation to drive productivity. But you are a poor country, you move aggressively to import or even imitate technologies that exist by the more advanced economy. Development economists have been studying this for years. But add that middle income’s zone, what is absolutely critical is to make the transition to developing innovation internally or indigenous to the system rather than just importing or imitating that which is existing elsewhere. The innovation debate is very important for China there are a lot of encouraging signs that China is moving ahead in innovation.
But there are also you know a lot of push back from the more advanced economies like the United States over the innovation issue. I am very positive about what china has done and街头千年杀 the innovation story is very complex. China’s made great progress I think and laying out the foundations of innovation’s driven system. The venture capital which is raised to establish new business is second only now to the US and the start-up culture has 吕会贤been striving in China by the last count I’ve seen your country has over 160 unicorns which are the privately held companies worth more than 1 billion. So that’s more than we have in the US right now.
So what China has done is look very carefully at a model that is very powerful in driving innovation culture In US’s Silicon Valley, it has moved to establish a similar type of efforts in China.儿歌简谱,尖峰对话 | 斯蒂芬·罗奇：我有必要站出来说句公道话 美国交易赤字不怪我国（下篇）,动物交配视频 But you need more than infrastructure to really build the innovation culture. It is necessary but not a sufficient condition. So, China’s moving ahead spe儿歌简谱,尖峰对话 | 斯蒂芬·罗奇：我有必要站出来说句公道话 美国交易赤字不怪我国（下篇）,动物交配视频ctacularly on several areas to bring that infrastructures to life in terms of more innovative culture whether it is e-commerce or Fintech, artificial intelligence or even in some other advanced medical sciences, especially biogenetics and DNA sequencing. Those are the applications that are really going to make 未删减版a difference. Now China moves from focusing on innovation infrastructure to a deeper innovation culture. If China’s successful there, then I do believe the chances of avoiding the middle income trap are important.
*全文完，上期回忆《尖峰对话 | 斯蒂芬罗奇：我国人未来养老，不能盼望房子，也不能盼望孩子（上篇）》。