What does the US call for "reshaping US China relations" indicate?

On December 12th local time, the US China Strategic Competition Committee of the US House of Representatives released its latest policy proposal report, calling for the reshaping of the economic relationship between the two countries.

It is reported that this report is 53 pages long and proposes nearly 150 legislative policy recommendations. It is said to have been formulated by the US China Strategic Competition Special Committee through months of research, investigation, hearings, and field visits, with the aim of seeking to fundamentally change the trade, investment, and business interaction patterns between the US and China.

The report provides legislative recommendations with a focus on the "three pillars", including reshaping the economic relationship between the United States and China, curbing the flow of US funds and technology into China, investing in technology to maintain America's leading position, and working with allies to establish collective economic resilience.

The Chinese side responded to this approach by the United States, stating that the remarks of the "committee" fully exposed the psychology of some people in the United States attempting to politicize, instrumentalize, and weaponize the economic, trade, and technological issues between China and the United States, and expressed strong opposition.

Industry insiders point out that this report is just a "hodgepodge" of extreme policies towards China adopted by the US China Strategic Competition Committee due to long-term dissatisfaction with China. The accusations against China and the characterization of related issues are both extreme, and the likelihood of final legislation for most of the recommendations is relatively low.

However, this report is highly likely to push the unfriendly domestic atmosphere towards China in the United States towards a worse direction, fermenting some related propositions in the US political circle and ultimately producing certain negative effects in actual policies. These are likely to have a very adverse impact on the overall stability of China US relations.

Roche, a senior researcher at Yale University in the United States, talked about US China relations during his participation in the 2023 Tsinghua Wudaokou Chief Economist Forum in the first half of this year. He believes that the two countries need to rebuild trust and reduce investment barriers.

Roche pointed out that rebuilding trust is easy to say but difficult to do, but there are still some small steps. Consulates can be reopened, visa restrictions relaxed, and educational exchanges reopened to rebuild trust at the level of civil society. In fact, more difficult issues such as climate change, global health, and cybersecurity also require stronger cooperation between the United States and China.

Currently, the American business community, aware of the danger, has responded to the report as soon as possible. On the day of the report's release, the Retail Industry Leaders Association, including companies such as Home Depot and Deloitte, issued a statement stating that the recommendations of the US China Strategic Competition Special Committee would be detrimental to American companies, as the cost of high tariffs would be borne by American importers and would only harm the interests of American businesses, workers, and consumers. It can be foreseen that if the recommendations in the report really enter the legislative process, they will only encounter more and greater obstacles.

Just the day before the report was released, the First Vice President of the International Monetary Fund, Gopinat, had issued a warning that the division of the global economy and the apparent shift in potential bilateral trade could trigger a "new Cold War". The source of the economic "new cold war" that the International Monetary Fund is concerned about is within the United States Capitol Hill.

Because the public opinion in the United States and the West always points the finger at China, some foreign-funded enterprises in China have become increasingly concerned in recent years, and the report from the US House of Representatives once again proves that the source of concern for foreign-funded enterprises in China, including American companies, lies in the offices of some people on Capitol Hill.

From a practical perspective, the trade war and technology war initiated by the United States against China have been going on for so many years, and many sanctions have been taken, but they have far from achieving the desired results, which has instead caused complaints from American companies.

This approach by the US Congress is actually not new, and China's response should not be complicated: it is to unite all forces that can be united, and strive for as many partners as possible, so that the US cannot further incite the world to isolate China and let its plans and actions to contain and suppress China fail while its influence gradually decreases and its daily desires are under control, So lifting the stone and smashing it on one's own feet.