Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BEIJING, May 12 (Xinhua) — The United States should cherish China’s goodwill and engage in sincere negotiations instead of spreading baseless rumors of “China’s collapse,” a Chinese economist wrote in an opinion piece provided to Xinhua News Agency, highlighting China’s strong economic performance this year.
“We should let facts, not slander, speak about the Chinese economy, and the world will make a fair judgment,” wrote Dong Yu, executive vice president of the Institute of China Development Planning at Tsinghua University, in an article titled “Fundamentals of China’s Economy from the Perspective of Macroeconomic Regulation.”
Citing China’s solid performance in economic growth, employment, price stability and the international balance of payments this year, the article says: “Few major economies in the world have managed to maintain stable performance in all four key areas as China has.”
Meanwhile, he wrote that US GDP contracted 0.3 percent in the first quarter of 2025 from the previous quarter on an annualized basis, and among other sluggish indicators, hiring at US companies slowed to its slowest pace in nine months in April of this year.
The article says that China has not underestimated the challenges that changes in the external environment pose to its domestic economy. It has recently introduced a number of additional policy measures to address both the direct and indirect effects of the tariff war.
“Many of the world’s leading investment institutions forecast robust growth for China’s economy in 2025, and also expect the country’s 15th Five-Year Plan to bring certainty to the development of not only China but the entire world,” the economist wrote.
In contrast, the US was aggressive in launching a tariff war, turning a blind eye to domestic issues, as if it did not need to consider the negative impact of such a war on its own businesses and population, the article says. “To this day, the US government has not introduced any systemic policies to ensure the welfare of the population, instead focusing its main efforts on partisan warfare and manipulation of capital markets.”
If a government does not plan long-term, lacks human capital and infrastructure support, has uncoordinated production and supply chains, and is not even a leader in automated manufacturing or robotics, then claims that it can revive manufacturing through tariffs are nothing more than a far-fetched narrative, Dong Yu wrote.
According to the article, recent moves in the US stock market do not indicate a restoration of confidence. “Instead, they reflect the view of international capital that China has not abandoned its goodwill or closed the door to negotiations.”
“Of course, such good will and patience will not be unlimited, and will be absolutely inapplicable to those who persist in shameless coercion, extortion and denial of obligations,” the economist wrote.
What the US really needs now is to value China’s goodwill, demonstrate its sincerity and genuinely engage in negotiations, rather than pinning its hopes on baseless rhetoric about a “collapse of the Chinese economy” that, according to the article, will never materialize. -0-