The US has underestimated the Chinese people’s will to fight a trade war and Beijing is prepared for a long economic battle, an influential Chinese Communist Party (CCP) journal said yesterday.
China would not give way on major principles in its negotiations with the US on ending the dispute, the commentary in the ideological journal Qiushi, or Seeking Truth, said.
The editorial represented “a further mobilization of Chinese society” in the struggle against US trade pressure, wrote Hu Xijin (胡錫進), editor-in-chief of the state-run Global Times newspaper, in a tweet.
“China will not be afraid of any threats or pressure the United States is making that may escalate economic and trade frictions. China has no choice, nor escape route, and will just have to fight it out till the end,” the Qiushi commentary said. “No one, no force should underestimate and belittle the steel will of the Chinese people and its strength and tenacity to fight a war.”
The commentary also accused the US of trying to hamper Chinese technological innovation.
“We must keep the initiative of innovation and development firmly in our hands, increase investment and research in key, core technology areas, pool together more high-value talents, enhance innovation and get rid of the core technology plight,” it said.
Qiushi said US consumers and businesses had reaped huge benefits from trade with China and warned that trade frictions would inevitably have a serious negative impact on the US economy.
The US Trade Representative’s Office today is scheduled to open seven days of testimony from US retailers, manufacturers and other businesses about Trump’s plan to hit another US$300 billion worth of Chinese goods with tariffs.
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