Sino-us Trade Friction And China's Response Measures

Since the establishment of diplomatic relations between China and the United States,bilateral relations have developed rapidly,also the bilateral trade has been steadily promoted.Both sides can form a situation of complementary advantages and win-win situation on both depth and breadth of cooperation.According to the statistics in 2018,China is the third largest exports market and the first imports source of American,as well as America is the largest exports market and the sixth imports source of China.However,the United States has frequently provoked trade disputes against China since 2018,with high tariffs on large amounts of Chinese imports.Both sides had negotiated for several times but with invalid results and the United States is still pressing China step by step In addition to trade wars,technological warfare and even financial warfare has been gradually followed up.Referring to the sanction methods that the United States used to use,this paper analysis the sanctions that the United States may adopt according to the current trade,technology and financial market situation of China,with the methods of historical analysis and qualitative analysis.Considering the current process of Sino-US trade war,the United States may take more severe sanctions against China from the following aspects:(1)Trade wars involve a wider scope,stricter measures and higher frequency.(2)The United States will impose an all-round blockade on China's technological talents,products and markets,which directly pointing to "Made in China 2025".(3)Financial sanctions are about to erupt gradually.The possible means are exchange rate warfare,rapid promotion of China's financial liberalization so as to take advantage of China's existing financial system defects to impact financial markets,cutting off SWIFT and other international trading systems,prohibiting Sino-US financial transactions,and downgrade China's sovereignty or corporate credit rating to short China's assets stock market.(4)In addition,China may be attacked from the geopolitical,diplomatic and other fields in a multi-dimensional manner.In view of the possible measures taken by the United States,China must take effective measures to meet the challenge and make long-term prevention.In response to the increasingly tough attitude of the United States,China must maintain a moderate and impartial attitude with actively communication and timely counterattack.We need to stabilize public opinion and market confidence and seek common strength from international organizations and other economies.At the same time,we must accelerate the pace of supply-side reform.On the financial side,we must accelerate the liberalization of China's financial system,strengthen the international status of RMB,upgrade the flexibility of financial supervision system,as well as take appropriate financial countermeasures.In science and technology,we must speed up the reform of scientific research,education system and talent education system.We should also continue to increase multilateral trade construction such as " Belt and Road " to speed up the process of China's trade liberalization.