U.S. Trade Representative Jamieson Greer stated that attempts to persuade China to alter its export-driven economic model have not been successful, describing such efforts as 'crazy.' In an interview with Axios, Greer reflected on 25 years of U.S. economic diplomacy aimed at encouraging China to focus more on domestic consumption, noting that the situation has worsened over time. He emphasized that continuing to follow China's suggestions could lead to stagnant growth similar to that of Canada, the U.K., and Germany, which experienced minimal growth rates recently. The U.S. has implemented tariffs on various Chinese goods, a strategy that has continued under the Biden administration. Greer also questioned the lack of action from European nations regarding China's economic practices. In contrast, Michael Froman, Greer's predecessor, warned that China's export boom could trigger a global economic crisis and advocated for a coalition to pressure China for economic rebalancing.
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U.S. Trade Representative Critiques Efforts to Change China's Economic Model
U.S. Trade Representative Jamieson Greer criticized the long-standing efforts to change China's export-heavy economy, calling them ineffective. He highlighted the U.S. strategy of imposing tariffs on Chinese goods and questioned the lack of action from European countries. Meanwhile, former Trade Representative Michael Froman warned that China's economic practices could lead to a global crisis.
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U.S. trade chief calls trying to change China's economy "crazy"
U.S. Trade Representative Critiques Efforts to Change China's Economic Model