Page 4 - Chen Xia News Today

The growing US obsession with technological blockades against China may actually be a manifestation of a lack of confidence in its own development, which is why it has opted to use blockades and sanctions to maintain its technological advantages and hegemony.

Whether in the United Nations or in the WTO, which now urgently needs reform, Washingtons approach has constituted the greatest challenge to the existing international order.

At the second anniversary of the outbreak of the Russia-Ukraine conflict, it is both disheartening and worrying for the global economy to witness the West once more intensifying sanctions against Russia and even extending them to third countries, rather than reflecting on and acknowledging the past mistakes and economic perils associated with the indiscriminate use of sanctions.

The Chinese Embassy in the US has harshly criticized Washington’s latest trade restrictions against Chinese entities over the Russia-Ukraine conflict, saying the move is typical economic coercion, unilateralism and bullying, Russian news agency TASS reported on Saturday.

The awkwardness of AUKUS is surfacing. It is not workable on so many levels. Relevant parties’ calculations and internal divisions may at the end of the day lead to an acceleration of the sinking of AUKUS.

Despite US concerns about China’s growing cooperation with Pacific Island Countries, China’s stance and actions of helping those countries achieve social stability and economic development won’t be affected by geopolitical interference.

This years US presidential election has exposed the extreme nature of hegemonism in the face of globalization and the trend toward multipolarity. With the rise and fall of hegemonism as the grand drama of international politics, an America veering toward extremism might mark the start of this dramas final act.

The Five Eyes alliance’s repeated smearing and attacking China are merely to cover up the basic fact that the grouping itself is “the largest global intelligence agency and the US is the No.1 ‘hacking state’ in the world,’’ said a spokesperson of the Chinese Ministry of Foreign Affairs on Thursday, in response to the Five Eyes’ warning against so-called Chinese hacker group Volt Typhoon.

If Chinese-made goods are blocked from entering the US market due to being labeled as the result of “overcapacity” or “dumping,” American consumers will have to spend more money purchasing products with the same quality as Chinese ones.

The US government is expected to award billions of dollars in subsidies to top semiconductor companies, including Intel and TSMC, in the coming weeks to help build new factories, the Wall Street Journal (WSJ) reported on Saturday. However, even if the report is true, subsidies can only play a limited role in underpinning a renaissance in US manufacturing.