Why Trade War?
As a member of the Chinese global community, l support the American spirit of democracy, of fairness and equality which are attributes admired across the world by all citizens.
However, l do not agree with its current President who has proven to be short sighted and, whose reactions are of the typical businessman who only sees immediate gain without seeing the long-term benefits for both Americans and the rest of the world.
The current trade war between the US and China, 損人不利己，has grave consequences, harming both sides. The businessmen, factory workers, consumers, in fact, everyone will be affected. We will ALL be paying a high price especially when the capital market of the world becomes unstable. All because ugly politicians and ugly politics use the so-called democratic system to abuse their power for short-term gain. And by doing so compromise the value of democracy itself. They harm everyone except themselves. They cannot see that the position of the USA, the strength of Americans will most definitely be affected.
The real power of the United States is the USD which is a common currency of the world. A stabilising force for the world. But today we all know the US currency is over printed and over-valued with its national debt standing at USD21 trillion.
America is bankrupt.
But America is lucky that the world still chooses to recognize its democratic system, its contribution to the world. The citizens of the world continue to support the US currency.
My deepest concern is that this may change as a result of this US- China trade war if it continues. If the US, manipulated by ugly politicians, continues with its ugly acts, the beautiful gold, so regarded by the Chinese language 美金，will no longer be beautiful when the US currency loses its popularity in the world. I fear that one day the crash of US currency will crash the stock market and nothing good will come of it, just like this US and China trade war, no good for anybody, just the ugly politicians.
USA must work hand in hand with China, for their own interest. Over the last 40 years China had been contributing to USA with its manufacturing capacity, in many ways for all products they use on a daily basis, from shoes to caps, from drinking glasses to furniture. Americans have enjoyed the good life for the last forty years because of China.
Americans have benefited from the rise of China, as well as from the people of the world who continue to work very hard to earn in USD.
The global confidence in the USD comes from the efforts of the past Presidents of USA. They upheld the righteousness of human value. But the current President does not seem to share these values. Rude remarks such as “f… Donald Trump “are coming from his own people with some even punching rubber statues of him.
I personally believe that this US-China trade war will cause the USD to tumble. The US currency will crash like other currencies that had crashed in history. Look at the statistics, study the number of US national collaborations and personal debts.
The question is does USA need the world or the world needs USA ?
Here you have a President who cares nothing for his own people, a man taking advantage of the democratic system to destroy everything that his predecessors have worked so hard to build, the actual architects of the world. It is time he came to his senses that the way to solve the problems of the world is for the two giants to work together. USA with the help of China has to create the platform for all exchanges, create a stable USD to ensure a stable world. Change the mindset. Look at China as a friend not an enemy. See China’s rise as an opportunity and not a threat. And finally which is a hard one, learn to be number two .
A govt for the people, by the people, of the people. Peace and harmony for all Americans and all peoples of the world.
Tan Sri Lee Kim Yew
Founder & Patron of World Chinese Economic Summit
(Reacting to the September 2018 “We The Future” Ted Talk presented by Harvard University political scientist Graham Allison on the topic - How will the US respond to the rise of China?)