Current location:Global Glean news portal > opinions
Hidden agenda behind hype of China's 'overcapacity problem'
Global Glean news portal2024-05-08 18:14:11【opinions】7People have gathered around
IntroductionA staff member observes the operation of intelligent equipment at the Harbin Electric Machinery Co L
A staff member observes the operation of intelligent equipment at the Harbin Electric Machinery Co Ltd in Harbin, Heilongjiang province, Feb. 22, 2024. [Photo/Xinhua]
While China-bashing is nothing new in the West, a new target of the incessant firepower has emerged of late: China's manufacturing capacity.
While it is just basic economics that surplus products naturally seek out markets elsewhere once domestic demand is met, and Western nations have been doing that for centuries, when it comes to China, it becomes an "overcapacity problem" threatening the world.
The double standard here is glaring; so is the West's calculations beneath it.
This new variant of "China threat" theory is just a pretext for certain Western countries to poison the environment for China's domestic development and international cooperation and take more protectionist measures for their own industries.
A fundamental fallacy of such "overcapacity" accusations is that rather than a threat, China's great manufacturing capacity has been a positive force for the world, developed countries included.
For starters, as the world's factory, the Asian country has helped people around the globe enjoy a better life at a lower cost. Even for the United States, Chinese imports have played an important role in keeping the prices of consumer goods low over the past few decades.
Meanwhile, for the Global South, China's industrial capacity represents a genuine opportunity for progress and prosperity. Many developing countries harbor aspirations for industrialization and modernization, and they can always find a willing and capable partner in China.
For example, fruitful cooperation on renewable energy between the Asian country and its Belt and Road partners has greatly accelerated their as well as the global transition towards efficient, clean and diversified energy supplies.
In light of those facts, the hypocrisy of the recent Western barrage over China's industrial capacity becomes crystal clear. Developed countries have a vested interest in perpetuating the current global industrial structure, which confines developing ones to the lower rungs of the value chains.
Therefore, as China shifts from traditional manufacturing to high-value-added sectors and establishes itself in such crucial fields as artificial intelligence, telecommunications and renewable energy, the West sees a threat, but not to the world, only to their long-held dominance.
Driven by such an egocentric mindset, they have gone to great lengths to hinder China's development in the convenient name of "national security," demonizing Chinese policies, suppressing Chinese high-tech companies and preaching so-called "decoupling" and "de-risking" from China.
Yet their China-bashing campaigns are failing, as the international community has become increasingly clear-eyed about the self-centered and self-righteous West. They just seldom walk their lofty talk.
However, the world now does have an "overcapacity problem," which is with the Western military-industrial juggernaut.
According to a report by the Stockholm International Peace Research Institute, the United States and Western European countries collectively accounted for 72 percent of all arms exports in 2019-23, up 10 percentage points from the preceding five years. While Western defense contractors reap substantial profits, the actual cost falls upon those trapped in violence and instability.
If the West was truly concerned for the world, that is the "overcapacity problem" they should really focus on.
Address of this article:http://clippertonisland.quotesbonanza.com/news-3c199806.html
Very good!(93)
Related articles
- Speed and pitching lift the Nationals to a 3
- New Big 12 out to prove bigger bank accounts don't always mean better football teams in 12
- F1 STEM event aims to excite Shanghai's youth in science and tech
- Sex offender asks Norway's Supreme Court to declare social media access is a human right
- South China to experience above average rainfall in May 2024
- Indonesia eye Thomas Cup title after beating Thailand
- Zelensky, NATO chief meet on aid for Ukraine
- This Texas veterinarian helped crack the mystery of bird flu in cows
- Judge dismisses lawsuit by mother who said school hid teen's gender expression
- Lady Gaga's father says he was 'attacked' outside NYC church as he slams ongoing Big Apple crime
Popular articles
- Israeli tanks have rolled into Rafah. What does this mean for the Palestinians sheltering there?
- F1 'ten years' away from more Chinese drivers, Zhou
- Ezekiel Elliott believes he can still carry the load at running back in return to Cowboys
- Stock market today: Asian markets wobble after Fed sticks with current interest rates
Recommended
Israeli tanks have rolled into Rafah. What does this mean for the Palestinians sheltering there?
Champions League semifinal: Füllkrug fires Dortmund to 1
Faceless people, invisible hands: New Army video aims to lure recruits for psychological operations
Natalie Roser leaves modelling agency after joining adult website
Joe Burrow is throwing again as the Bengals' franchise QB rehabs his surgically repaired wrist
Biden keeps quiet as protesters and police clash on college campuses
Chinese designs gaining popularity in Milan
Critics question if longtime Democratic congressman from Georgia is too old for reelection
Links
- Tennessee's governor says Volkswagen workers made a mistake in UAW union vote
- Chicago Bears schedule a Wednesday announcement on new stadium near lakefront
- Feature: 69 years on, the Bandung Spirit remains alive in the Global South
- Iowa lawmakers address immigration, religious freedom and taxes in 2024 session
- Lady Amelia Windsor wows in lace slip dress as she attends Earth Day dinner in London
- 19th Western Pacific Naval Symposium set to take place in E China
- Seattle hospital won't turn over gender
- Rishi Sunak says he has confidence in Sir Mark Rowley but he must rebuild 'trust' among Jews
- Massive flooding hits China's Guangdong
- Revealed: England's smart motorways lost power nearly 400 times in two years