Bannon promotes economic fascism

Source:Global Times Published: 2019/5/23 21:23:39

Former White House chief strategist Steve Bannon told the South China Morning Post on Saturday that the executive order signed by US President Donald Trump that bans Huawei from the US market and cut off vital components is "10 times more important than walking away from the trade deal."

This is the most hysteric advocacy by this ultra right-wing opinion leader. Bannon is addicted to the rhetoric of general war on China. With China-US relations heading downward, this radical figure makes himself heard by talking loud.

In China even the most radical opinion leaders would not demand to drive Apple or McDonalds out of China. But Bannon's extreme remarks can exert some impact on US society and he is quite proud of being hawkish, which shows that the rational foundations of the country are being eroded. Extremism is rising.

Bannon's China policy is a kind of economic fascism. His real objective of forcing Beijing to carry out fundamental reforms is the economic subjugation of China. 

Bannon's threatening words toward China are bringing an opium high to some people amid the US frenzy of suppressing China.

Regrettably, besides Bannon, a group of economic fascists have emerged in the US. They view China's economic development and prosperity as a fundamental threat to the US. Their disruption of the global supply chain is eroding the foundation of globalization, which will jeopardize peace in the 21st century.

We want to make two points. First, the aggressive US attitude toward China will have a certain impact on the Western world. But if the US forces Western countries to decouple from Chinese high-tech companies and incites a technology and economic cold war between the West and China, it is bound to face resistance, as this does not fit the interests of Western countries.

Second, the evil thinking of Bannon against China is the epitome of the vicious ideas of some US elites toward China. It is uncertain whether they will become the real China policy of the US administration. 

As the trade war escalates, Chinese society should be prepared for deranged US policies. China's high-tech companies in particular should take precautions.

All Chinese companies wishing to get to the high-tech mountaintop should learn from Huawei's composed example. If only there were a group of Chinese companies sharing intellectual property with foreign partners, then certain malicious forces would hesitate at a crackdown. 

There are high-tech companies from South Korea and the island of Taiwan that lead some specific areas. The Chinese mainland is not lagging behind and so it is quite possible for Chinese companies to develop their own ace in the hole if they work harder.

The Chinese government announced a preferential tax policy for the semiconductor industry on Wednesday, aiming to counter US suppression. Hard-working companies with support from the government and the people will help China win the game against the US. 

The huge Chinese market will provide the best conditions for high-tech innovation. Sometimes misfortune is a blessing in disguise.

Posted in: EDITORIAL

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