2018年CRI Trade protectionism unfavorable for U.S. innovation development: experts

 

As the United States has been taking various actions to restrict China's investment in high-technology sector¹, many insiders from the U.S. business and academic circles say those moves will be unfavorable for the country's own innovation development.

The U.S. has proposed tariffs² that will affect a series of Chinese goods aligning³ closely with the manufacturing sectors⁴ covered by the "Made in China 2025" plan, which calls for the modernization⁵ of China's manufacturing sector and includes targets for the development of high tech industries, including artificial intelligence and robotics.

Some observers believe that the threats by the United States to slap tariffs on China's high tech industries highlights their fears about China's growing economic and industrial success.

Pete Walker, a senior partner of international management consulting firm McKinsey & Company, says that the United States’ trade restrictions⁶ stand in opposition⁷ to the principles of an open market.

"To me it's hypocritical for the United States to say 'we don't want China to challenge us in these areas', because the U.S. is supposed to be the champion of open markets, so open markets are all about open competition," says Walker.

The observer adds that the United States will eventually lose its advantages in innovation if it sticks to a policy of trade protectionism and closes itself off from market competition.

"So my attitude is the U.S. is 'sour grapes blowing off hot air,' and at the end of the day it's going to force the U.S. to either start investing in those technologies the way China is, or get ready to be number two in certain areas," says Walker.

Restrictions by the United States on technology exports to China are not necessarily a bad thing for China's development, according to Albert Ng Kong Ping, a managing partner with the consultancy firm Ernst & Young Global Limited.

"From another prospective⁸, if the United States refuses to export certain products to China, China can conduct innovation independently and produce them on its own. The current situation in China is completely different from what it used to be. China has sufficient funds and other advantages to attract talents to conduct research and development work in the country," says Ng.

There has already been significant investment made into China's science and technology sector.

Geoffrey Garrett, the dean of the Wharton School at the University of Pennsylvania, says that China is an engine of both global economic growth and innovation.

"I was looking into renewable energy, and if you count both by investment and by jobs, about 40 percent of the investment and jobs in the world in renewable energy are in China. In 2017, there were more electric vehicles sold in China than in the rest of the world put together. China has only been in the high speed rail business for 10 years, it already has more high speed rail lines than the rest of the world put together," says Garrett.

The analyst⁹ expects that China's investment in artificial intelligence will allow it to surpass the United States in this field in the next five years.

1 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

2 tariffs   

关税制度； 关税( tariff的名词复数 )； 关税表； （旅馆或饭店等的）收费表； 量刑标准

参考例句：

• British industry was sheltered from foreign competition by protective tariffs. 保护性关税使英国工业免受国际竞争影响。
• The new tariffs have put a stranglehold on trade. 新的关税制对开展贸易极为不利。

3 aligning   

n. (直线)对准 动词align的现在分词形式

参考例句：

• There are signs that the prime minister is aligning himself with the liberals. 有迹象表明首相正在与自由党人结盟。
• ToolTips provide textual hints that assist in drawing lines and aligning objects. 工具提示提供了协助画线和对象对齐的文本提示。 来自About Face 3交互设计精髓

4 sectors   

n.部门( sector的名词复数 )；领域；防御地区；扇形

参考例句：

• Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
• Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》

5 modernization   

n.现代化，现代化的事物

参考例句：

• This will help us achieve modernization.这有助于我们实现现代化。
• The Chinese people are sure to realize the modernization of their country.中国人民必将实现国家现代化。

6 restrictions   

约束( restriction的名词复数 )； 管制； 制约因素； 带限制性的条件（或规则）

参考例句：

• I found the restrictions irksome. 我对那些限制感到很烦。
• a snaggle of restrictions 杂乱无章的种种限制

7 opposition   

n.反对，敌对

参考例句：

• The party leader is facing opposition in his own backyard.该党领袖在自己的党內遇到了反对。
• The police tried to break down the prisoner's opposition.警察设法制住了那个囚犯的反抗。

8 prospective   

adj.预期的，未来的，前瞻性的

参考例句：

• The story should act as a warning to other prospective buyers.这篇报道应该对其他潜在的购买者起到警示作用。
• They have all these great activities for prospective freshmen.这会举办各种各样的活动来招待未来的新人。

9 analyst   

n.分析家，化验员；心理分析学家

参考例句：

• What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
• The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。