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The unilateral trade protectionism of the U.S. hurts a lot of nations. These countries need to enhance their cooperation, including cooperation between China and Japan, to ease the harm.

6 Comments

Liu Jiangyong, a professor of international relations at Tsinghua University in Beijing, who specializes in Japan studies.

© Bloomberg

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He says from China, the great communist-run mercantilist empire. How about taking down your own 25% tariffs on cars, instead of criticizing your trade partners for trying to do the same thing?

The "Made in China 2025" program will hurt a lot more nations, including the US, than Trump ever will.

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China and Japan combating protectionism?? Best joke I've heard all day! Good one!

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Well, Trump and Xi are both very particular on their economy. If I can remember by Macroeconomics right, one downside of a globalized economy is that your economy might suffer losses if another economy is more competitive. In order to mitigate this, countries impose trade protectionism to give their economy a fighting chance. If I'm not wrong, Japan also did the same thing post-WWII to revive its economy. The problem is that China and US holds a large slice of the world's economic pie and any protectionist action or a trade war will be felt throughout.

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Interesting image in the Guardian. Russia and China don't come out well, but neither does the U.S and Australia interestingly. I managed to find the source. This is fairly up to date btw and is from Europes perspective.

https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52017DC0338&from=EN

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Its page 5 btw.

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If I'm not wrong, Japan also did the same thing post-WWII to revive its economy.

All the major economic powers have been havens of protectionism and mercantilism. That's how they became economic powers.

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