U.S. Treasury Secretary Yellen to visit Seoul, South Korea on Tuesday
On the day of the final battle itinerary of his Asia trip
Yellen meets South Korean President Yoon Shin-wol
and visiting
South Korean tech giant company speaks after
Call on trusted allies like South Korea
Strengthening trade relations with the United States
Touted the concept of case-based outsourcing
Advocates for so-called reduction of reliance on Chinese supply chains
fringe sharing
is about
deepening relationships and diversifying our supply chains
with a greater number of trusted trading partners
the purposes to lower risks for our economy and theirs
in doing
so we can help to insulate both american and korean households
from the price increases and disruptions
caused by geopolitical and economic risks
Round also attacked China in his speech
old tune about smearing
China claims unfair trade practices
in industries including semiconductor production
achieve dominance
we cannot allow countries like china
to use their market position
in key raw materials
technologies or products to disrupt our economy
or exercise unwanted geopolitical leverage
Cased Outsourcing Strategy
It was first reported by Yellen in the United States in April this year.
in a speech to the Atlantic Council of the Library
Yellen claimed at the time
The United States is in some rare resources
In the latest presentation of the LG Group
It also turns into an explanation
Cased Outsourcing Means Closer Relationships and Diversity
What about the concept proposed by Yellen?
Actually, uh, from any angle
Basically he's a guy who wants to be able to fight
China is here
uh on the global industrial system
uh completeness
With this efficient competition
to try it out
make a confrontation
but outsourced
obviously pan
politicized manipulation of the concept of national security
anti-market economy
and anti-globalization administrative manipulation
The industry is not optimistic about this
Nihon Keizai Shimbun also issued a warning last week that
From the perspective of stabilizing the supply chain
The United States in neighboring Central and South America and Canada
Outsourcing in Mexico
Undoubtedly a favorable candidate
But the U.S. is targeting
Point to China, an important engine of the world economy
This move may support
freedom for western economic growth
trade damage
Against the backdrop of the U.S. government’s advocacy of supply chain adjustments
Businesses may no longer be based on low production as they once were
Cost and other economic rationality to build supply chain
but more consideration
Ground source for new production bases
political risk
This will undoubtedly lead to higher costs
less competitive
increase inflation
More economists worry
U.S. draft case outsourcing
may break
Valuable economic gains from globalization
The Wall Street Journal reported last month that
Have
Outsourcing strategy will place greater emphasis on security and political issues
forcing countries to choose sides
It could even lead to the splitting of the world economy into a U.S.
and two economic blocs centered on China
According to estimates by WTO economists
Fragmentation could cause the global economy to shout at
5% reduction over 10 to 20 years
Equivalent to more than 4 trillion US dollars
will not only lead to further price increases in western countries
Corporate profits fall
these price costs
will be disproportionately borne by poor countries
shifts and supply chains not to
move fully away from globalization
a full decompoint
or something that moves coast of full decompoint
will not help anyone from any point of view
Basically this is a comparison non-compliance
An opportunity for efficiency and science and monetary gain
you want to go uh
When hitting a fixed such dig enemy
you have to go and set some
Uh, the so-called special mechanism
This mechanism is not based on a uh comparative interest
not stand on one of the most efficient
not standing at one of the most competitive
This is the basic
I personally don't like their prospects
But for the United States
Korea actively participating in the Indo-Thai economic framework
The semiconductor industry is developed
to reshape the so-called global
An important axis of the security supply chain
During a meeting with Yoon Hee-wol at the Presidential Palace in Yongsan, South Korea
Yellen stressed
The U.S. attaches great importance to the partnership with the ROK
It is expected that the two countries can discuss and deal with bilateral
Important Issues in Economic and Global Economic Affairs
Yin Xiyue said
Looking forward to the comprehensive strategic alliance between South Korea and the United States
Military security field expands to industrial technology security
Economic and Financial Security
It is worth noting that
Korean companies have repeatedly participated in the chip convened by the White House
Summit U.S. President Biden's May Visit Letter
The South Korean side also promised that South Korean companies would
battery and other strategic
Huge investment in the US in important industries
this means
In the strategy of encircling China that the United States is advancing
Korea and Japan together are important fortresses in East Asia
The U.S. will
Han Lie plans to build the core
member of the film quartet
recent request
South Korea has until end of August to answer whether the US will join
to this
Chinese Foreign Ministry spokesman Zhao Lijian responded on Tuesday that
The chip industry is highly globalized
Division of labor and cooperation among countries
Jointly promote the continuous and rapid progress of chip technology
Formation and Development of Global Chip Industry Chain Supply Chain
It is the law of the market and the choice of enterprises
Result of joint action
It is hoped that relevant parties will uphold an objective and fair position
from oneself
Long-term interests and fair and just market principles
Doing more is conducive to maintaining the global chip industry chain
supply chain stability
The U.S. has always advertised the principle of free trade
but repeatedly abuses the power of the state
Politicizing technology and economic issues
instrumental weaponization
Coercive diplomacy
Attempt to artificially promote decoupling of industrial transfer
undermine the rules of international trade
fragmenting the global market
In the context of deep integration of the global economy
America's behavior
Purely against the current
unpopular
will eventually fail
It is worth noting that
Although Yellen's visit
Made some tough rhetoric on China
Yellen also told Reuters
U.S.-China relations are not entirely negative
or escalate to an extremely hostile level
and China is listening
US concerns in some areas
He reiterated that he did not want to convey
Picture of escalating hostilities between the US and China
observed that
Yellen's tough stance on China
Primarily to market its documented outsourcing strategy
At that time, he proposed the starting point of this strategy
It is to ease the high-fever inflation problem in the United States
actually in a Biden administration
Yellen is pragmatic on China policy
It has been proposed several times to reduce the
Raising tariffs on China to save
US Inflation Scenario
Earlier this month
Yellen also took the initiative to conduct comprehensive economic dialogue with China and the United States
Thousands of Chinese
Liu He video call
Both sides agreed that the exchange was constructive
Related topics to connect special commentator Chen Bing
Hello Mr Chen
U.S. Treasury Secretary throws out case for outsourcing in South Korea
and claimed to reduce resources to China
Market and industrial chain dependence
So do you think foreign companies will withdraw from China?
good host
What about Yellen's cased outsourcing?
Often seen as a shareholder foreign-funded enterprise Art China
So what about the U.S. hard-Thai strategy?
What about the so-called case in the United States?
Mainly refers to the economic allies of the United States
That is
Asia Hard Thai
13 Asia-Pacific countries in the economic framework
Including 7 Southeast Asian countries
What about the economic framework of the UK and Taiwan?
is to try to take part of the industry in China
Especially in industries controlled by foreign companies
transfer to other countries
But what happened after the Sino-US trade war?
All the companies that moved out came back to China
Back to Guangdong-Hong Kong-Macao Dawan District
why
Because other countries and regions
Does not have a complete supply chain and corresponding
professional talent support
U.S.
Now what about adding politics to the business of outsourcing
rather than the laws of the market
This is bound to fail.
Actually
We look at the purpose of Yellen's Asian sex
just know
That's just a word to threaten China
what about his asia visit
is persuading Asian countries to support the US
Managed to set a maximum price for Russian use
Russian Military Conflict and European and American Sanctions on Russia
Asia has replaced Europe
Become the largest buyer of Russian oil
No support from China and India
Then you can't do it if you limit the price to Russia.
What about this policy?
Yellen first proposed it.
Now, he is also a good overlord.
However, many American economists have predicted that
What about pricing Russian oil?
is an impossible task
Not in line with market rules
China and other Asian countries also did not respond
and offer persuasion
The best way to end the war
So what?
The U.S. threatens China with outsourcing
at the same time
Also use casework to draw a big pie for Asian allies
Urge them to support the US current price policy
That is to say
As long as Asian countries support U.S. policy
what about the future
from industrial outsourcing
and benefit from industrial transfer
Of course this Asian country knows
The Hard Taiwan Economic Framework is not a trade agreement
No market implantation benefits
Even if some industries move from China to the country
You have to do your own marketing
There is no guarantee that it will enter the US market
so to speak
There is no outsourcing and no outsourcing
It's just an empty talk of the United States threatening China
I'm sure
What about outsourcing this?
Will not lure foreign companies out of China
In the end, enterprises still follow the laws of the market.
rather than U.S. geopolitical mobilization