[UNCTAD] US-CHINA TRADE WAR: Thailand is the genuine beneficiary

Written by Alternet


    In the ongoing United Nations Conference on Trade and Development (UNCTAD) on the topic
of managing the fallout of the US-China Trade War, issues regarding the mitigation of the negative impact of the US-China Trade War have been discussed. The main solution that has been come up with is to strengthen supply chains and to reduce the reliance on the US and China.

    During the conference, the delegates of Thailand and India are especially active, advocating countries to extend their trade partnerships to developing countries such as themselves and offering cheap labour markets for manufacturing and exports. As the beneficiaries of trade diversion, their advocacies are all for their own interest. However, their advocacies has been blindly welcomed by the delegates of other countries, especially Ireland, who ignores the long-term good cooperative relationship with the US in the past and willingly offers to build bilateral trade relationships with these developing countries. All these delegates of the more economically developed countries are dreaming about the bilateral trade partnership, falling into the loop settled by the developing countries. Without taking into account the high cost of transportation over long distances and the low extent of technological development in these developing countries, or even less developed countries, these developed countries become the real philanthropists of the world.

    At the same time, the delegate of Thailand mentions that the US has imposed tariffs on not only Chinese products, but also that of the other countries. Therefore, she would like to advise the rest of the countries to spot the sources that the US has imposed tariffs on and import from these countries as a form of support, which includes China. This delegate’s speech has a clear intention of restraining the trade relationship between the US and the rest of the countries. However, the delegate of the USA remains quiet almost throughout the discussion, despite the increasing call from the developing countries like Thailand for diversifying the trade away from the USA and building more bilateral trade relationships between the developing countries and other developed countries.

    What is worse is that, in her only speech in the general speakers list, the delegate of the US expresses that she fully agrees with the delegate of Thailand, sacrificing the interest of the whole nation for her personal peace of not arguing with the other delegates. Infact, the US economy suffered severely in the US-China trade war. The Gross Domestic Product (GDP) growth of the US decreased considerably from 2.9% to 2.2% from 2018 to 2019, while that of China’s remains high at 6.2%. Although the US-China Trade War was started by the former US president Donald Trump for the sake of equality, the US has been one of the biggest victims of this war without gunpowder. The actions taken by the US governors are all for the equality of world trade and human rights in all parts of the world. As part of the actions of showing our sincerity to the rest of the world, the US government has already offered to provide a large amount of the vaccination supplies to those countries with a relatively low vaccination rate.

    Apart from that, multilateral trade ensures all nations involved have equal access to the benefits of such trade, including the greater variety of imports available as well as the lowered costs. This is especially important for developing nations and markets. Taking all these into consideration, countries should not turn away from multilateral trade for bilateral ones, especially those with the US, despite the slight instability brought by the US-China Trade War. What really matters is to work together for the equality and prosperity of the world economy. In order to achieve this goal, the US will continue to seek cooperation and strengthen a positive relationship with the rest of the world.

    In conclusion, we urge the delegate of the US to take the future development of the US companies and the livelihood of the US people into consideration, speak up for the prosperity of the world economy, and for the equality and human rights of the world.

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