2018年CRI U.S. protectionist moves undermine int'l trade system: Nobel winner

 

A Nobel Prize-winning U.S. economist¹ says the U.S. protectionist measures against China would harm its own economy and undermine a rule-based international trading system. Joseph Stiglitz spelt out his opinion in New York on Thursday at a gathering² of top U.S. and Chinese CEOs, government leaders, and experts.

Stiglitz said that the Trump³ administration has initiated⁴ a potential trade war against China partly to serve its own political purposes.

"His fixation with the bilateral⁵ trade deficit⁶ is really primitive⁷. He seems to say when we have a trade deficit with a country, he says that country is playing unfair. I'm actually convinced that Trump wants a little war for his political purposes. There has been a wing at the Republican Party, not all, but a wing of it, that has been skeptical⁸ of international engagement for some time, and Trump has sort of exploited that," explained Stiglitz.

Stiglitz also warned that appeasing⁹ a minor¹⁰ few would be at the cost of the majority, saying that "helping¹¹ Wall Street does not help the 'Rust¹² Belt.'" He noted¹³ that trade disputes should be solved within a multilateral framework, like the World Trade Organization, and in accordance with international rule of law, instead of sticking to bilateral bargaining, where power matters.

"The WTO provides a framework for adjudicating disputes. If we the United States think they are violating WTO rules, you file a case. What is remarkable¹⁴ about the Trump administration is that they have not filed those cases. So you have to guess, is there or is there not a violation¹⁵? China is actually beginning to file cases against the United States. What the United States is doing in steel and aluminum¹⁶ is probably a violation of WTO laws," said Stiglitz. 

Stiglitz said that even though China is the world's second largest economy, the country is still classified by the World Bank as a developing economy. The U.S. must understand that China has its own right to develop.

"The United States has to buy into the notion that China has to have the right to develop. You mentioned their 2025 policy, that's based on a recognition that they are a developing country. It's a big developing country, but their per capita income is one fifth of the United States. So they want to develop. Obviously, any developing country has an aspiration¹⁷ of closing their per capita income gap, and that's going to require investments across the board, infrastructure¹⁸, and also education," explained Stiglitz. 

Stiglitz also urged the U.S. not to impose its own legal framework on China; but rather, the U.S. and China should try to expand areas for cooperation where there's room for consensus¹⁹.

Stiglitz was among a long list of panelists present at the China Institute 2018 Executive Summit, themed "U.S.-China Business in the New World Order." The event brought together hundreds of U.S. and Chinese CEOs, government leaders, business insiders and experts to examine challenges and opportunities amid the changing business relations between the U.S. and China.

1 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

2 gathering   

n.集会，聚会，聚集

参考例句：

• He called on Mr. White to speak at the gathering.他请怀特先生在集会上讲话。
• He is on the wing gathering material for his novels.他正忙于为他的小说收集资料。

3 trump   

n.王牌，法宝；v.打出王牌，吹喇叭

参考例句：

• He was never able to trump up the courage to have a showdown.他始终鼓不起勇气摊牌。
• The coach saved his star player for a trump card.教练保留他的明星选手，作为他的王牌。

4 initiated   

n. 创始人 adj. 新加入的 vt. 开始，创始，启蒙，介绍加入

参考例句：

• He has not yet been thoroughly initiated into the mysteries of computers. 他对计算机的奥秘尚未入门。
• The artist initiated the girl into the art world in France. 这个艺术家介绍这个女孩加入巴黎艺术界。

5 bilateral   

adj.双方的，两边的，两侧的

参考例句：

• They have been negotiating a bilateral trade deal.他们一直在商谈一项双边贸易协定。
• There was a wide gap between the views of the two statesmen on the bilateral cooperation.对双方合作的问题，两位政治家各自所持的看法差距甚大。

6 deficit   

n.亏空，亏损；赤字，逆差

参考例句：

• The directors have reported a deficit of 2.5 million dollars.董事们报告赤字为250万美元。
• We have a great deficit this year.我们今年有很大亏损。

7 primitive   

adj.原始的；简单的；n.原(始)人，原始事物

参考例句：

• It is a primitive instinct to flee a place of danger.逃离危险的地方是一种原始本能。
• His book describes the march of the civilization of a primitive society.他的著作描述了一个原始社会的开化过程。

8 skeptical   

adj.怀疑的，多疑的

参考例句：

• Others here are more skeptical about the chances for justice being done.这里的其他人更为怀疑正义能否得到伸张。
• Her look was skeptical and resigned.她的表情是将信将疑而又无可奈何。

9 appeasing   

安抚，抚慰( appease的现在分词 )； 绥靖（满足另一国的要求以避免战争）

参考例句：

• Mr. Chamberlain had cherished the hope of appeasing and reforming him and leading him to grace. 张伯伦先生则满心想安抚他，感化他，教他温文知礼。
• A pleasing preacher is too often an appeasing preacher. 一昧讨好的传道人通常是姑息妥协的传道人。

10 minor   

adj.较小(少)的，较次要的；n.辅修学科；vi.辅修

参考例句：

• The young actor was given a minor part in the new play.年轻的男演员在这出新戏里被分派担任一个小角色。
• I gave him a minor share of my wealth.我把小部分财产给了他。

11 helping   

n.食物的一份&adj.帮助人的，辅助的

参考例句：

• The poor children regularly pony up for a second helping of my hamburger. 那些可怜的孩子们总是要求我把我的汉堡包再给他们一份。
• By doing this, they may at times be helping to restore competition. 这样一来, 他在某些时候,有助于竞争的加强。

12 rust   

n.锈；v.生锈；(脑子)衰退

参考例句：

• She scraped the rust off the kitchen knife.她擦掉了菜刀上的锈。
• The rain will rust the iron roof.雨水会使铁皮屋顶生锈。

13 noted   

adj.著名的，知名的

参考例句：

• The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
• Jim is noted for arriving late for work.吉姆上班迟到出了名。

14 remarkable   

adj.显著的，异常的，非凡的，值得注意的

参考例句：

• She has made remarkable headway in her writing skills.她在写作技巧方面有了长足进步。
• These cars are remarkable for the quietness of their engines.这些汽车因发动机没有噪音而不同凡响。

15 violation   

n.违反(行为)，违背(行为)，侵犯

参考例句：

• He roared that was a violation of the rules.他大声说，那是违反规则的。
• He was fined 200 dollars for violation of traffic regulation.他因违反交通规则被罚款200美元。

16 aluminum   

n.(aluminium)铝

参考例句：

• The aluminum sheets cannot be too much thicker than 0.04 inches.铝板厚度不能超过0.04英寸。
• During the launch phase,it would ride in a protective aluminum shell.在发射阶段，它盛在一只保护的铝壳里。

17 aspiration   

n.志向，志趣抱负；渴望；(语)送气音；吸出

参考例句：

• Man's aspiration should be as lofty as the stars.人的志气应当象天上的星星那么高。
• Young Addison had a strong aspiration to be an inventor.年幼的爱迪生渴望成为一名发明家。

18 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。

19 consensus   

n.(意见等的)一致，一致同意，共识

参考例句：

• Can we reach a consensus on this issue?我们能在这个问题上取得一致意见吗？
• What is the consensus of opinion at the afternoon meeting?下午会议上一致的意见是什么？