Amid US-Led Decoupling from China Trend, Chinese Experts Sound 'Warning'

"Deglobalization = De-Chinaization"
"Beware of a New US-Centered International Economic Order"

[Image source=Yonhap News]

[Asia Economy Reporter Cha Min-young] "China is an important participant in globalization, so when someone talks about 'deglobalization,' there is a voice of 'de-Chinaization' embedded in it. We need to be extremely vigilant about this." (Long Yongtu, former Deputy Director of the Ministry of Foreign Trade and Economic Cooperation)

There are growing warnings that China could become isolated from the US-centered international economic order following the COVID-19 pandemic. It is pointed out that active preparation is needed for the possibility of a new economic order excluding China being established in international affairs.

According to the South China Morning Post (SCMP) in Hong Kong on the 12th, Long Yongtu, who led China's accession negotiations to the World Trade Organization (WTO), pointed out the possibility of China's geopolitical isolation in the post-COVID era at an online forum on the 9th. The forum was jointly hosted by the news site ifeng.com, Shanghai Advanced Institute of Finance, and the National Development Research Institute of Peking University.

Chinese experts participating in the forum noted that even if China declares victory in its war against COVID-19 within the mainland, economic and diplomatic challenges toward China are likely to continue. The common diagnosis is that the trend toward de-Chinaization will further develop during the pandemic.

In fact, the United States and its allies, including the European Union (EU) and Australia, have been applying economic pressure on China related to the COVID-19 situation while demanding an independent investigation into the origin of the virus.

Former Deputy Director Long Yongtu said at the forum, "Significant changes will occur in international trade, investment, and industrial supply chains after the pandemic," and predicted, "The epidemic will cause serious harm to internationalization."

Li Yang, Director of the National Institute of Finance and Development (NIFD) under the Chinese Academy of Social Sciences, agreed with Long Yongtu's point, saying, "We have every reason to say that an international alliance aiming to exclude China and the Chinese yuan is forming."

Li Yang emphasized, "We have no choice but to make the yuan stronger and establish it as an international currency," adding, "Of course, in the same context, it is also important to make China stronger."

This content was produced with the assistance of AI translation services.