The US has “fabricated” accusations that China forces firms to hand over technology in exchange for market access, the Chinese Communist Party-run People’s Daily said yesterday, the latest salvo in a bitter trade dispute.
Beijing announced this week that it would retaliate against a move by Washington to raise tariffs on US$200 billion of Chinese imports amid complaints that it had done little to resolve US concerns about the theft of intellectual property and the forced transfer of technology to Chinese firms.
An op-ed in the People’s Daily said that China had never forced US firms to hand over technology and that the claim was “an old-fashioned argument used by some people in the US to suppress China’s development.”
“The US argument about the ‘forced transfer of technology’ can be described as being fabricated from thin air,” the newspaper said, adding that the US has not backed up the claims with any evidence.
The US benefited substantially from voluntary technological cooperation, earning US$7.96 billion in intellectual property use fees in 2016 alone, it said.
The US said that negotiations were likely to resume soon, but China said that no fixed date had been set and that Washington needed to show sincerity in any new round of talks.
The US is pursuing global hegemony, an op-ed published yesterday by China’s Xinhua news agency said that the US would suffer more than China from an all-out trade war.
“Compared with China, the US is more reliant on external markets and international economic relations, and is more vulnerable to global economic shocks,” Xinhua said.
“If the US persistently stokes up trade disputes, it will certainly affect the global market, and the consequences will inevitably see itself suffering greater losses,” it added.
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