‘Ready to compete’
As Trump’s tariffs target friends and foe alike, Chinese officials have already in recent weeks looked to project China as an alternative champion and protector of a globalized economy that’s enhanced the prosperity of countries around the world, as well as a stable economic partner and haven for business.
“As the world’s second-largest economy and the second-largest consumer market, China will only continue to open its doors wider, regardless of the changing international landscape,” China’s Foreign Ministry said in a statement on Saturday.
On Sunday, Ling Ji, a vice minister at China’s Commerce Ministry, hosted representatives from 20 US-funded enterprises including Tesla and GE HealthCare, according to a ministry statement.
Ling touted China as an “ideal, safe, and promising” place for investment, while calling on American businesses to “be rational voices” and “take practical actions” to maintain the stability of global production and supply chains.
Economic experts speaking to Chinese state broadcaster CCTV on Saturday also played into the idea that the trade shake-up was an opportunity for Beijing.
“China is sending a significant message to the world: we cannot back down or tolerate US bullying, as tolerance ultimately leads to more bullying,” said Liu Zhiqin, senior researcher at Chongyang Institute for Finance Studies in Renmin University of China, told the broadcaster.
“China and the US are now direct rivals in reshaping the international trade order,” said another, Ju Jiandong, a professor at the People’s Bank of China School of Finance of Tsinghua University. “We’re willing to take on the challenge – we’re ready to compete with the US in redefining the new global trade system.”
China’s trade partners are likely to take such messaging with a grain of salt.
