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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 year's 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 drama's 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.