Anti-China sentiment is growing
stronger in Washington and a former undersecretary for international affairs at
the U.S. Department of Treasury is warning Beijing to pay close attention.
“I worry that Chinese authorities …
underestimate how broadly the anti-Chinese sentiment is in Washington — it runs
across the full political spectrum,” said Tim Adams, who is now president and
chief executive of the Institute of International Finance (IIF), a trade
Adams also said that although the
current administration was the one that pushed the trade war against China the
majority of the 24 Democrats running for President in 2020 harbor some level of
“Washington has become decidedly
anti-China,” Adams told CNBC at the IIF meeting in Tokyo on Thursday.
In the same way, he is concerned that
Washington does not understand the rhetoric from Beijing.
“I worry that there are those in
Washington who think they understand the Chinese mindset, and that they can
force President Xi Jinping to bend (to) the will of Washington’s desires, and
maybe not appreciate … the rhetoric coming out of China,” he added.
The trade war between the two global
giants further intensified in the past months.
U.S. President Donald Trump announced
in early May that tariffs on $200 billion worth of Chinese goods would go up
from 10% to 25%.
Washington is also considering
subjecting $300 billion worth of Chinese goods to additional tariffs.
China retaliated by levying tariffs
on $60 billion of American imports. Both
parties have already included technology and education sectors in their ongoing
Turning to the U.S. economy, believes
America is in a stable position – for now:
“I don’t think the economy is going
to hit a wall anytime soon, unless we make serious policy mistakes — which
we’re capable of doing.”
However, he pointed out that there
could be “miscalculations” in Washington, Beijing and other capitals, where
trade and nationalism are concerned, and that could hinder the growth of the