diest since World War II compared with any other major country.

上海夜网New China faced many twists and turns in the first 30 years in rebuilding its economy. Even durin

g the 40 years of reform and opening-up, it has successfully weathered many a powerful s

torm including four major external crises: the debt crisis in the early 1980s, Western sanctions from the late 1980s to上海夜网女神会所

the early 1990s, the 1997-98 Asian financial crisis and the 2008 global financial crisis.

Centralized leadership adds to China’s advantages

上海夜网Admittedly, the Chinese economy has been facing a new type of challenge since the second half of 2018 because of the tr

ade war launched against it by the US. Yet the new challenge cannot be compared with the past external crises. Ev

en in the 1990s, at the height of Western sanctions, China was able to reverse the trade deficit that had u上海夜网女神会所

ndermined its economy for nearly 100 years since the First Sino-Japanese War (1894-95).

上海夜网Now, China has to deal with the fifth major external challenge: the US-instigated trade war. Notwithstanding the s

aber-rattling of some US politicians and the US administration’s desperate attempt to prevent the rise of Chinese hi

gh-tech companies, which reminds one of the Cold War, do those trying to force China to concede ground by applying “

上海夜网maximum pressure” really understand how China has weathered powerful storms in the past decades?

Without economic resilience and expertise in the high-tech sector, China would not have been able to close the

wide gap with the US in national strength. Perhaps this is why the US has labeled China as a major competitor.上海夜网女神会所

The domestic political infighting in the US unseen in decades is likely t

o intensify and create a bigger problem for the White House. By contrast, the

strengthened centralized leadership of China is well-positioned to deal with any challenges with greater efficiency. In this上海夜网

regard, the US hawks, who have turned a blind eye to China’s resilience, should look at China’s history and see how it has

overcome challenges, and stop resorting to “maximum pressure” to fulfill their narrow political goals.上海夜网女神会所

The author is a researcher at the Chinese Academy of International Trade and

Economic Cooperation. The views don’t necessarily represent those of China Daily.

www.chinacctm.cn