On August 6, the Academy of International Trade and Economic Cooperation of the Ministry of Commerce held a seminar on China-Us economic and Trade relations. Sang Baichuan, dean of the School of International Economics at the University of International Business and Economics, said that a trade war is not helpful for the US to become strong and hopes to use it to maintain its world hegemony, which will only end in failure. Sangbaichuan pointed out that the United States' obsession with trade protectionism runs counter to basic economic common sense. China and the United States have forged a close cooperative relationship in the global system, which is an important product of China's reform and opening-up over the past four decades and its participation in economic globalization.
"The US is waging a trade war against China, constantly imposing tariffs and putting pressure on China in the belief that only China will suffer and the US will gain more economically, which challenges people's perception of economic knowledge and is eye-opening." Sang Baichuan said.
Sangbaichuan said in the trade war, the United States lacks credibility, repeatedly, back and forth, will eventually because the United States lost credibility and decline.
