U.S. ‘Attacking China’s Core Economic Interests,’ State Media Says

Le·gal In·sur·rec·tion | 5/26/2019 | Vijeta Uniyal
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The United States was “attacking China’s core economic interests,” Chinese state media said. By making a number of “arrogant demands,” Washington was “trying to invade China’s economic sovereignty and force China to damage its core interests,” Chinese state news agency Xinhua said Saturday. The comments came amid U.S. demands to restrict the role played by powerful Chinese state-owned enterprises (SOEs) that dominate all sectors of the country’s economy and receive favored treatment from the state.

The ongoing trade conflict between the two countries escalated further this month with President Donald Trump raising duties on $200 billion of Chinese goods. China responded with higher tariffs on $60 billion worth of U.S. goods.

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“The trade war launched by the US is becoming more and more like real war,” the editorial in Global Times, the English edition of China’s official party mouthpiece People’s Daily, commented in response to the U.S. move. “At its core is the US resorts to unscrupulous means to suppress China while China is committed to crushing US arrogance.”

The Hong Kong-based South China Morning Post reported the remarks made by China’s state-run news agency:

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“At the negotiating table, the US government presented a number of arrogant demands to China, including restricting the development of state-owned enterprises,” Xinhua said in a commentary.

SOEs in China enjoy not only explicit subsidies but also hidden benefits such as implicit government guarantees for debts and lower interest for bank loans, analysts and trade groups say.

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“This shows that behind the United States’ trade war against China, it is trying to...
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