Trade Barriers Will Not Stop China’s Rise
If, back in the 1980s and 1990s, the US government, rather than arguing for Chinese economic opening, had prohibited any US company from investing there, China’s rise would have been significantly delayed, though not permanently prevented. Because that did not happen, China’s rise is now self-sustaining.
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LONDON – There are widespread worries that US President Donald Trump’s protectionism will erode the long-term benefits of global trade. There are also hopes, mostly among Trump’s supporters – including many US companies – that tough policies can prevent China from becoming America’s technological equal. But worries about the long-term impact of reduced global trade may be exaggerated, and the hope of keeping China down has no chance of being fulfilled.