Those who deviates from spirit of time will reap what they have sown

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Since March 2018, the U.S. government has messed up the world’s economic order wielding its baton of tariffs. In today's interconnected world with shared interests and responsibilities and the time of globalization of industrial chains, supply chains and value chains, trade friction, a weapon from the age of mercantilism, will hurt those who resort to it when it is used against others. Opening-up and cooperation is still the spirit of the time as well as where justice lies in the present-day world.

As its tax revenue has increased since it imposed additinal tariffs on China, the U.S. believes that the trade friction is a good thing. However, studies have shown that that money was collected from Americans. Short-term outcomes of adding tariffs will definitely increase the cost of American consumers.

Over the past more than one year of trade negotiations and wrangling, the Chinese market and Chinese companies are all gradually adapting to the “mini climate” of trade friction. Judging from economic statistics, China has maintained steady economic development. Figures of China-U.S. trade in the past year demonstrate that adding tariffs didn’t solve the U.S.' concern about trade imbalance, and the China surplus against the U.S. still has increased rather than reduced.

In the time of industrial chains, China and the U.S. have formed an interdependent community with shared interests and a synergetic ecosystem. Countries can promote each other to make human society move forward only in a network of cooperation and open environment.

Huawei actually represents the deep transformation and upgrading of China’s economy and China’s transition from the mid-low end to mid-high end of the value chain as well as from a trading entity to a financial entity. China is coping with the trade friction with a new round of high-level openness, because the spirit of the time is still openness and cooperation instead of isolation and confrontation.

Contributed by Sun Xingjie for Guangming Daily

Translated by Zhang Zhou