2018年CRI Industry insiders upset at Trump move to restrict market access

 

US tech industry insiders are expressing their disappointment on the recent moves by the Trump¹ administration to restrain market access for Chinese tech companies in the country. Meanwhile, multilateral organizations such as the International Monetary² Fund are warning that the protectionist trend demonstrated by the US side is likely to hurt not only the two sides, but also the world as a whole.

Jeremy Allaire is the CEO of Circle, an internet tech company based in Boston, Massachusetts. He said he is disappointed by the recent restrictions³ put on Chinese tech companies by the Trump administration and both governments should try to give more access to each other's business. 

"I am disappointed in the kind of sanction activities. I think it's a real loss for the world economy. I am much more interested in seeing both American and Chinese companies being able to compete freely. Of course it will be great to see some of the restrictions American companies have in China lowered. But at the same time, I think it's important for Chinese companies that are innovating⁴ to be able to access the US market." 

The US Federal Communications Commission recently decided⁵ to move forward with a policy to ban federally subsidized telecommunications companies from using suppliers the Commission claimed to be posing a threat to US national security. The policy is likely to hurt Chinese tech companies such as Huawei and ZTE who have already established years of business practices with their American counterparts. 

The U.S. Department of Commerce has also imposed a denial of export privileges against ZTE for alleged⁶ violations⁷ of the Export Administration Regulations.

In reality, these restrictions on Chinese companies are likely to hit their US partners hard, too. According to statistics by market research company Counterpoint headquartered in Hong Kong, ZTE sells around 45 million smartphones per year globally, and almost half of them have Qualcomm chips. The company then estimates with an average of 25 dollars per chip the ban on ZTE means nearly half a billion dollar loss for Qualcomm. 

Multinational⁸ organizations are warning about the spillover of US-China tensions, too. At this year's IMF and World Bank spring meetings, IMF chief Christine Lagarde said tensions on trade are likely to hurt investors⁹' confidence in the long run. 

"What is more important is something that is more difficult to measure in the short term. And that has to do with the erosion of confidence. When investors do not know under what terms they will be trading, when they don't know how to organize their supply chain, they are reluctant on investing. Growth is currently being driven by more investment than we had seen in previous years and more trade, so why damage those two engines that are effectively working for growth?"

Lagarde also cautioned that in a globalized world perhaps no one can simply just walk away from frictions¹⁰ between the US and China, the world's two largest economies.

"And it would not be something that would affect two countries, because the world is so interconnected. The supply chains are involving so many different countries, regional, intraregional, interregional, that it would affect the global economy. So as Churchill used to say: It is better to jaw¹¹ jaw than to war war."

Moving forward, instead of launching constant aggressive actions, Jeremy Allaire, the CEO of Circle, said he hopes both sides can adjust policies to help business. 

"I think at the end of the day it's deal making. It's coming up with some economic partnership¹² agreement that includes changes in both countries on the rules and regulations for foreign company participation¹³."

1 trump   

n.王牌，法宝；v.打出王牌，吹喇叭

参考例句：

• He was never able to trump up the courage to have a showdown.他始终鼓不起勇气摊牌。
• The coach saved his star player for a trump card.教练保留他的明星选手，作为他的王牌。

2 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

3 restrictions   

约束( restriction的名词复数 )； 管制； 制约因素； 带限制性的条件（或规则）

参考例句：

• I found the restrictions irksome. 我对那些限制感到很烦。
• a snaggle of restrictions 杂乱无章的种种限制

4 innovating   

v.改革，创新( innovate的现在分词 )；引入（新事物、思想或方法），

参考例句：

• In this new century, the company keeps innovating and developing new products. 新世纪伊始，公司全面实施形象工程及整合营销，不断改革创新，开发高新产品。 来自互联网
• Beijing is backward most prime cause is innovating at system lack. 北京落后的最根本原因在于制度缺乏创新。 来自互联网

5 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

6 alleged   

a.被指控的，嫌疑的

参考例句：

• It was alleged that he had taken bribes while in office. 他被指称在任时收受贿赂。
• alleged irregularities in the election campaign 被指称竞选运动中的不正当行为

7 violations   

违反( violation的名词复数 )； 冒犯； 违反（行为、事例）； 强奸

参考例句：

• This is one of the commonest traffic violations. 这是常见的违反交通规则之例。
• These violations of the code must cease forthwith. 这些违犯法规的行为必须立即停止。

8 multinational   

adj.多国的，多种国籍的；n.多国籍公司，跨国公司

参考例句：

• The firm was taken over by a multinational consulting firm.这家公司被一个跨国咨询公司收购。
• He analyzed the relationship between multinational corporations and under-developed countries.他分析了跨国公司和不发达国家之间的关系。

9 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

10 frictions   

n.摩擦( friction的名词复数 )；摩擦力；冲突；不和

参考例句：

• Family frictions can interfere with a child's schoolwork. 家庭中的争吵会影响孩子的学业。 来自《简明英汉词典》
• As far as we are concerned, these frictions are not of our own making [have been imposed on us]. 就我们来说，这种摩擦是被动式的。 来自《现代汉英综合大词典》

11 jaw   

n.颚，颌，说教，流言蜚语；v.喋喋不休，教训

参考例句：

• He delivered a right hook to his opponent's jaw.他给了对方下巴一记右钩拳。
• A strong square jaw is a sign of firm character.强健的方下巴是刚毅性格的标志。

12 partnership   

n.合作关系，伙伴关系

参考例句：

• The company has gone into partnership with Swiss Bank Corporation.这家公司已经和瑞士银行公司建立合作关系。
• Martin has taken him into general partnership in his company.马丁已让他成为公司的普通合伙人。

13 participation   

n.参与，参加，分享

参考例句：

• Some of the magic tricks called for audience participation.有些魔术要求有观众的参与。
• The scheme aims to encourage increased participation in sporting activities.这个方案旨在鼓励大众更多地参与体育活动。