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US companies losing opportunities because of tariff war

China Daily | Updated: 2019-09-22 07:49
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武汉论坛 长征中,带领他参加革命的父亲牺牲了,是党把他抚育长大成人,使他从一个贫苦的孤儿成长为共和国的将军。 宠物论坛 目前,流动党员驿站累计登记外来流入党员7000余人,留言7000余条。 论坛资讯 ”李廷俊告诉记者,幼时因家境贫困中途辍学,13岁开始跟着师傅学医,每日攻读传统文化典籍和医学书籍直到深夜,1957年,他正式踏上从医的道路。 创业 苇店村 思维车 下八礤 武汉女人 万里城

Editor's note: Some US officials recently claimed that the tariff policy adopted by the United States is dealing a heavy blow to China's economy since foreign investment is leaving China, but the fact is that foreign investment continues to flow into China, and even the investment of US companies continues to increase. 21st Century Business Herald comments:

Statistics show that from January to July 2019, a total of 24,050 new foreign-funded enterprises were set up nationwide, and foreign capital actually used reached 533.14 billion yuan ($83.4 billion), up 7.3 percent year-on-year. Against the backdrop of rising global protectionism and slowing global growth, the influx of so much foreign capital shows China's attractiveness to foreign investment.

The US has been trying to force its overseas companies to return home by imposing tariffs, but its investment in China still keeps increasing. For example, Suzhou, East China's Jiangsu province, the largest recipient of foreign investment in the first half of this year, introduced 33 US-funded projects and 29 US-funded enterprises increased their investment in the first seven months of this year.

The US has chosen the wrong time to wage a tariff war against China. China has transformed from an export-dependent economy to a domestic demand-driven one, with consumption accounting for more than 60 percent of GDP. China's middle-class population of more than 400 million who are upgrading their consumption are also generating fast-growing demand for US goods and services. Besides, China has been promoting higher-quality development and transformation and upgrading of its industry and services, which will also provide more opportunities for foreign companies, including those from the US.

At a time when China is undergoing technological change for high-quality development and the Chinese market is greatly increasing demands for US enterprises, the trade war launched by the US is preventing its enterprises from gaining more market share and opportunities in China. No wonder US companies are still increasing their investment in China. The uncertainty created by the US trade attack on China has not only hurt US companies' investments, but will also cause them to lose their advantages in China.

The US has no advantages any more to develop manufacturing, so its attempt to force its manufacturing enterprises to return home will not achieve expected effects, and what the US' tariff policy really hurts is the interests of its own companies.

  
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