2018年CRI China-US trade deficit is not so important: US strategist

 

Observers from the US and Chian have met in Beijing to discussing the future of trade between the two sides amid the current trade frictions¹.

The US President Donald Trump² continues to tout³ his theory that the trade deficit⁴ with China hurts American jobs.

And now with the additional tariffs⁵ by the US side potentially hitting some 200 billion US dollars or beyond on Chinese imports, he is putting this theory to the test.

On the backdrop of this, scholars from think tanks from both countries have gathered together at the Center for China and Globalization in downtown Beijing to discuss the situation.

Dr. Michael Pillsbury, a China strategist and longtime senior advisor⁶ to US governments, represents the Hudson Institute during the roundtable discussions.

He says it's the Trump administration's hallmark strategy to use the trade deficit as a way to blame China for US job losses.

"Most of the economist⁷ in America, they don't think the trade deficit is very important, they think trade deficit is just a simple measure, doesn't cost any jobs, doesn't slow economic growth, so we should not be concerned about it."

Pillsbury, instead, suggests the trade deficit a structural⁸ problem, saying that he believes Trump is being given bad advice.

Pillsbury also says he believes if the Chinese government continues with its reform and opening up policy, the dispute will eventually solve itself.

Official US statistics from 2017 contend the US registered as $375.6 billion US dollar deficit in its trade in goods with China.

Doctor Wang Huiyao, President of the Center for China and Globalization, says the calculation methods can be improved.

"Calculation of the trade deficits⁹ should be improved. For example the service trade should be included, so that the deficit won't be seen that big. And also, particularly US multi-nationals operation in China, their income should be considered as well."

Leading trade experts from Beijing and Washington at the session say they both agree that more communication is needed, suggesting that a better understanding of the nuances of trade between China and the US is critical.

To that end, officials attending the event in Beijing have announced the launch of a collaborative research initiative focusing on trade issues.

1 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》

2 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。

3 tout   

v.推销，招徕；兜售；吹捧，劝诱

参考例句：

• They say it will let them tout progress in the war.他们称这将有助于鼓吹他们在战争中的成果。
• If your case studies just tout results,don't bother requiring registration to view them.如果你的案例研究只是吹捧结果，就别烦扰别人来注册访问了。

4 deficit   

n.亏空，亏损；赤字，逆差

参考例句：

• The directors have reported a deficit of 2.5 million dollars.董事们报告赤字为250万美元。
• We have a great deficit this year.我们今年有很大亏损。

5 tariffs   

关税制度； 关税( tariff的名词复数 )； 关税表； （旅馆或饭店等的）收费表； 量刑标准

参考例句：

• British industry was sheltered from foreign competition by protective tariffs. 保护性关税使英国工业免受国际竞争影响。
• The new tariffs have put a stranglehold on trade. 新的关税制对开展贸易极为不利。

6 advisor   

n.顾问，指导老师，劝告者

参考例句：

• They employed me as an advisor.他们聘请我当顾问。
• The professor is engaged as a technical advisor.这位教授被聘请为技术顾问。

7 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

8 structural   

adj.构造的，组织的，建筑（用）的

参考例句：

• The storm caused no structural damage.风暴没有造成建筑结构方面的破坏。
• The North American continent is made up of three great structural entities.北美大陆是由三个构造单元组成的。

9 deficits   

n.不足额( deficit的名词复数 )；赤字；亏空；亏损

参考例句：

• The Ministry of Finance consistently overestimated its budget deficits. 财政部一贯高估预算赤字。 来自《简明英汉词典》
• Many of the world's farmers are also incurring economic deficits. 世界上许多农民还在遭受经济上的亏损。 来自辞典例句