SYDNEY, Sept. 5 (Xinhua) — Some U.S. insurance policies to sluggish China’s progress ought to be stopped, Columbia University Professor Jeffrey D. Sachs has warned.
In his evaluation just lately launched by the general public coverage journal platform Pearls and Irritations, the economist burdened that some U.S. anti-China financial measures violated the foundations of the World Trade Organization and are a hazard to world prosperity.
“The anti-China policies come out of a familiar playbook of U.S. policy-making. The aim is to prevent economic and technological competition from a major rival,” Sachs wrote within the article.
He identified that in contrast to Japan within the Nineteen Nineties, which was depending on the United States for its safety and so adopted U.S. calls for, China has extra room for maneuver within the face of U.S. protectionism.
“I believe, China can substantially increase its exports to the rest of Asia, Africa, and Latin America, through policies such as expanding the Belt and Road Initiative,” Sachs famous.
“My assessment is that the U.S. attempt to contain China is not only wrongheaded in principle but destined to fail in practice,” he added.