Keep Calm and Deepen Reform

May 24-2019   

NSD Policy Talk, an influential forum, invited eight scholars from China’s leading think tanks to speak on China-US trade and bilateral relationships on May 22.

Prof. Justin Lin, Honorary Dean of NSD, stated that China’s technological progress and innovation came from its own learning and efforts, and trade wars would cause more harm to the US than to China. Most importantly, China should maintain its composure, deepen reform, and give more market opportunities to Europe, Japan, South Korea and other developing countries.

NSD Prof. Yu Miaojie, an expert in international trade, said that the US itself was no stranger to export subsidies then and now, and was groundless in denying China the status of the market economy. Prof. Zhou Shijian of Tsinghua University argued that tariff hikes on Chinese goods could only result in inflation in the US; consequently, the Federal Reserve might raise the interest rate and that in turn would deal a blow to US stock markets. Meanwhile, China’s measures such as lowering the VAT and increasing export tax rebate could mitigate the negative impact of US tariff increase.

In the ensuing panel discussions, Prof. Zha Daojiong of the School of International Studies at Peking University proposed that China should leverage all favorable elements, including those related to the US, to improve competitiveness and enhance global recognition of the quality of its openness.

The other scholars at the forum were Prof. Dong Yan of the Chinese Academy of Social Sciences; Prof. Zhang Yuncheng of China Institute of Contemporary International Relations; Prof. Da Wei of the University of International Relations; and Mrs. Chen Wenling of China Center for International Economic Exchanges. NSD Prof. Huang Yiping and NSD Assistant Dean Fan Baoqun each hosted a section of the forum.