Wednesday, May 27, 2020

Era of US Intimidating China Over: Global Times Editorial
Global Times
2020/5/27 21:23:40

US President Donald Trump said on Tuesday the US is working on a strong response to China's planned national security legislation for Hong Kong and would announce it before the end of the week.

US media revealed that the measures would include imposing controls on transactions and freezing assets of Chinese officials and businesses for implementing the law, and visa restrictions for Chinese officials. When asked whether the US would revoke Hong Kong's separate customs territory status, a White House spokesperson said she had nothing to announce.

Since China is determined to push forward the national security legislation for Hong Kong, it has been prepared for any possible reaction from the US. Sanctions with individual assets and visas as levers are obviously not presentable. Support for this legislation in Hong Kong is gaining momentum.

Many Chinese people have realized that some US politicians are seizing China by its throat. A long-term rivalry between China and the US is inevitable. In the face of US aggression, China should adopt a calm mentality and be prepared to engage in a long-term battle with the US.

As China maintains its powerful nuclear deterrence and boosts its military strength, the US will not readily resort to a military showdown with China over China's core interests. Decoupling is the last trump card the US has.

China will not act on impulse to cut off ties with the US. China will deepen reforms and further open up to increase the attractiveness of the Chinese market. If the US insists on decoupling with China in sectors where its own strength is shrinking, let it be.

The core advantage of the US is the high-tech sector. China is clear that it must make up for its disadvantages and we are confident that China can make breakthroughs by mobilizing the whole nation. Decades ago, China developed the atomic bomb, the intercontinental ballistic missile and the artificial satellite, thus entering the sphere of superpowers. Why couldn't China make breakthroughs in the future in areas which are currently caught in a bottleneck phase?

Another core advantage of the US is its financial hegemony, which will make China's exchanges with the outside world inconvenient. If the US dares to resort to financial means, it will hurt the integrity of the financial system it leads.

If a financial war spirals out of control, it is the US that will suffer the most. With its real economy shrinking, the US economy is largely relying on the financial sector, which means launching a financial war equals self-harm.

The Chinese people are pragmatic and hardworking. We have constructed a comprehensive manufacturing system and built the technological ability to make breakthroughs. We also have a vast market. Hardly can such a country be isolated and contained.

The China-US "battle" over Hong Kong is on. The US is free to play any cards in its hand. Hong Kong is under China's sovereignty, and whatever act Washington passes is just wastepaper.

Amid the long-term competition with the US, one of the most important tasks for China is to build up its internal vitality. We have sufficient means to resist external blows, while internal flexibility and vitality are sources of subsequent stamina. In the end, China is competing with itself.

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