Connect with us


US-Chinese decoupling would cost America hundreds of billions of dollars




The flags of the United States and China are displayed on the American International Chamber of Commerce (AICC) booth during the China International Services Trade Fair in Beijing, China, May 28, 2019.

Jason Lee | Reuters

BEIJING The US economy could lose more than $ 1 trillion in production and global long-term competitiveness if the White House pursues a clean separation from China, according to a report released Wednesday by the US Chamber of Commerce and the Rhodium Group.

While US President Joe Biden appears poised to keep his predecessor’s firm stance on China, the report’s authors have presented estimates of the huge costs of sweeping rather than targeted policies to shield US national security from growing economic and technological clout. from Beijing.

These projected losses include:

By 2025, $ 190 billion per year in US production by expanding tariffs by 25% to all trade with China. Over the next decade, full implementation of these tariffs would result in a drop of $ 1 trillion from potential growth in the United States, and up to $ 500 billion in one-time losses of GDP if states -United were selling half of their direct investment in China. U.S. investors would also lose $ 25 billion per year in capital gains. $ 15 to $ 30 billion per year in trade in exported services if Chinese tourism and education spending fell to half of what it was before. the coronavirus pandemic.

Research for the 92-page report began in 2019, before the coronavirus pandemic hammered the global economy.

Tensions between the United States and China have escalated over the past three years under former President Donald Trump. His administration has sought to use tariffs, sanctions, and further scrutiny of cross-border financial flows to address long-standing complaints about China’s lack of intellectual property protection, forced technology transfers, and the important role of the state in business operations.

Losing global competitiveness

The costs of separating the world’s two largest economies go far beyond the immediate dollar numbers.

Radical US policies directed against China will also affect other countries, forcing them to reconsider their relations with the United States, according to the report. He added that these measures would increase costs for US businesses and reduce their ability to compete globally.

The report looked specifically at the impact of a sweeping White House policy in the aviation, semiconductor, chemicals, and medical device sectors. For example, losing China’s massive aircraft market could cost $ 875 billion by 2038, according to the authors’ analysis.

To achieve national security goals, the report says the US government should pursue “narrowly tailored actions” such as restrictions on the export of specific technology licenses.

Cutting US companies off the Chinese market altogether will likely have greater consequences for US global leadership in the long run, according to the report.

“It is essential that US chip companies retain access to the Chinese market and be able to reinvest the revenues from their sales in China into chip production and R&D in the United States in order to maintain their global leadership position. , allowing the United States to set the standards for the future. . “

Ultimately, a successful U.S.-China policy will have its costs and will require painful adjustments, according to the report.

“In the upcoming policy overhaul,” the report says, “the central role of market forces in determining winners and the limited ability of governments to redistribute resources to facilitate the process must be respected.”

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

picture credit


to request, modification Contact us at Here or [email protected]