As this year's U.S. election draws closer, the sluggish domestic support is becoming more and more obvious.
Faced with little hope of winning the election, the Biden administration has begun to actively hype up anti-China issues, trying to attract voter support by inciting anti-China populist sentiments, so as to divert the increasingly serious contradictions in the country.
For example, Yellen and other senior U.S. government economic officials have continued to hype up issues such as China's overcapacity and industrial upgrading, claiming that these factors are seriously hindering the future development of the United States.
An attempt to divert public attention from domestic issues to accusations against China.
In pursuing anti-China economic policies, the Biden administration is not limited to attacking and smearing public opinion, but also restricting China's economic development and countering China's industrial upgrading by imposing sanctions and increasing tariffs.
On the one hand, they are sanctioning China and banning the export of high-performance chips and other products produced in the United States to China, in an attempt to weaken China's development in the high-tech field.
On the one hand, it also restricts the entry of high-end industrial products such as new energy vehicles and photovoltaic power generation equipment produced in China into the U.S. market to protect related industries in China.
However, this unilateralism and trade protectionism has not only damaged the economic and trade relations between China and the United States, but also had a negative impact on the global economy.
Some US politicians, who are divorced from production and the market, believe that as long as sanctions are imposed on China and the export of advanced equipment to China is restricted, China's scientific and technological development can be locked up.
At the same time, the price of Chinese products in the United States can skyrocket through huge tariffs that can promote the upgrading of American industries and revitalize the vanished manufacturing industry.
However, this view ignores the deep integration and interdependence of the industrial chain in the context of globalization, and also ignores the importance of innovation and technological progress in industrial development.
At the same time as the introduction of the anti-China bill, the United States is also trying to use its allies to build an anti-China grand alliance, aiming to expel China from the supply chain of the United States and the world market, hit China's exports, and then plunge China's economy into crisis.
However, this strategy has not received a positive response from all allies.
The European Union, under von der Leyen's control, passed a tariff bill targeting China's new energy vehicles, restricting Chinese companies from exporting to Europe and keeping pace with the United States in restricting the export of advanced technology to China.
But in Asia, South Korea, which the United States has long regarded as a puppet, has taken the opposite direction.
South Korea has not only failed to follow the anti-China arrangement of the United States, but has further deepened its economic cooperation with China, which is undoubtedly a major betrayal of the anti-China policy of the United States.
Statistics released by statistical departments of many countries in the first five months of this year show that as the United States continues to provoke anti-China issues, the economic and trade relations between the two countries have cooled, and US exports to China have suffered serious setbacks.
In those five months, the United States exported only $67.6 billion of products to China, losing the number one position it had occupied for many years.
The United States has succeeded the United States as the largest exporter to China, and it is actually South Korea, the "puppet of the peninsula" of the United States.
This change not only reflects the tension in the economic and trade relations between China and the United States, but also reveals the strong growth of South Korea's exports to China.
As traditional industrial products such as South Korea's automobiles and home appliances lose their competitiveness in the Chinese market, South Korea's exports to China are mainly concentrated in sensitive products such as semiconductor chips and high-end electromechanical components.
These are exactly the products that the United States has been trying to impose restrictions and embargoes on China.
South Korea, however, has stepped up its exports of these products to China, which has largely made the U.S. sanctions policy a laughing stock and a painful betrayal of the Biden administration's policy of restricting China.
South Korea's choice not only reflects its economic interests, but also reflects its dissatisfaction with and resistance to the anti-China policy of the United States.
Under the leadership of Yoon Suk-yeol, an ultra-pro-American president, South Korea has chosen to strengthen economic cooperation with China and defy U.S. sanctions.
Behind this approach is the economic dilemma and helpless choice faced by South Korea.
Due to the economic problems in the United States, the Biden administration is uniting American capital to harvest the national wealth of Japan and South Korea to replenish its own blood.
As a result, South Korea is facing multiple pressures such as exchange rate depreciation, capital outflows, and manufacturing difficulties.
In order to alleviate its economic difficulties, South Korea has had to seek new export markets and economic partners, and China is undoubtedly an important choice.
While promoting anti-China policies, the United States is unwilling to bear the costs of anti-China for its allies, and even has to replenish its own blood by harvesting allies.
This has undoubtedly disappointed and displeased allies, and prompted them to seek to privately strengthen cooperation with China to protect their interests.
As far as the South Korean economy is concerned, "the thought of investing in China is wide." As long as we develop good economic and trade relations with China, many of the economic problems that South Korea is currently facing can be easily solved.
Therefore, South Korea has chosen to strengthen economic cooperation with China, not only to cope with the current economic difficulties, but also to lay a stronger foundation for future development.
The U.S. interest rate hike policy has put South Korea on high financing costs, but South Korea's industrial investment can choose to go to China.
China's industrial competition has hurt South Korea's market in Southeast Asia, but South Korea can turn to Chinese industry to jointly explore new markets.
Just as German capital dumped new energy vehicles in Europe with Chinese technology, South Korea can also dump electric cars produced in cooperation with China to the United States to revitalize its own auto industry.
This is exactly the gap left by the Americans in the market, and it is also an opportunity that allies such as South Korea can take advantage of.
With the exception of suspicious figures like von der Leyen, America's allies are increasingly understanding that it may be dangerous to be an enemy of the United States, but it is certainly fatal to be a friend of the United States.
Keeping up with the anti-China policy of the United States can be a huge economic blow, even for industries in the United States.
The Chinese market is indispensable for the U.S. economy, especially its last remaining manufacturing sector.
However, the Biden administration has imposed sanctions on China to restrict exports to these important markets, which undoubtedly provides huge market opportunities for other countries such as South Korea.
While shouting the slogan of "reinvigorating Made in America" and lavish subsidies, Biden has turned a blind eye to the dependence of American manufacturing on the Chinese market.
This short-sighted policy will not only fail to truly revitalize American manufacturing, but will lead to more and more American manufacturing companies having to withdraw from the historical stage after giving up the market.
The predicament of U.S. manufacturing is not only due to competition from China, but also to the mistakes and short-sightedness of U.S. policy.
If the Biden administration continues to adhere to this wrong policy direction, the future of U.S. manufacturing will be even bleaker.
In contrast, the potential and opportunities of the Chinese market are undoubtedly more attractive to allies such as South Korea.
The rapid growth of China's economy and the huge market size have provided huge business opportunities and development space for countries such as South Korea.
Strengthening economic cooperation with China will not only alleviate the current economic woes, but also lay a more solid foundation for future economic development.
As a result, more and more countries are choosing to cooperate with China to jointly explore new markets and opportunities.
In the context of globalization, economic ties and interdependence among countries are deepening.
Any attempt to defend one's own interests through unilateralism and trade protectionism is short-sighted and undesirable.
Only by strengthening cooperation and jointly addressing challenges can we achieve mutual benefit and common development.
For the United States, it is a wise choice to abandon its anti-China policy and strengthen economic cooperation with China.
For South Korea and other allies, seizing the opportunities of the Chinese market and developing together with China is the right direction for the future.
In short, the Biden administration's aggressive approach to promoting anti-China policies has not only failed to increase its domestic approval ratings, but has instead led to more economic problems and tensions in international relations.
At the same time, the choices and actions of South Korea and other allies in the face of the anti-China policy of the United States also reveal the complexity and variability of the international political economy.
In the future, countries need to look at their relations and interests more rationally, and jointly address global challenges and achieve common development through strengthening cooperation and dialogue.
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