Some U.S. policies to slow China’s growth should be stopped, Columbia University Professor Jeffrey D. Sachs has warned.
In his analysis recently released by the public policy journal platform Pearls and Irritations, the economist stressed that some U.S. anti-China economic measures violated the rules of the World Trade Organization and are a danger to global 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 in the article.
He pointed out that unlike Japan in the 1990s, which was dependent on the United States for its security and so followed U.S. demands, China has more room for maneuver in 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 noted.
“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.
