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【变局专栏17】贸易战,中国没输,美国没赢(中英双语)

人大重阳 2020-09-01
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编者按:中国人民大学重阳金融研究院执行院长王文在《环球时报》英文版专栏“Wang Wen on Changing World”的第十七篇专栏文章《贸易战,中国没输,美国没赢》于今日刊出,现将中英文内容转发如下:




"US-launched trade war against China is turning into a protracted one, but we have been prepared," Yang Jinghui, chairman of a technology company in Hongmei, a town of Dongguan in South China's Guangdong Province, told me. As over half of the products that his company makes are sold to the US, his business has been deeply influenced by the tariffs slapped by the superpower. However, what I saw was his optimism and positivity, instead of anxiety and despair.

“中美贸易战正在变成一场持久战,但我们已有准备。在东莞洪梅镇,某家科技公司董事长杨先生对我讲述了他的看法。他公司的产品半数以上销往美国,受到美国加征关税的巨大影响。但我从他的脸上看到的是乐观、积极,而不是崩溃与焦虑。

This was the fourth time I did field research in the Pearl River Delta over the last half a year, during which I met dozens of business owners. Like Yang, the majority of them were busy negotiating with US importers, and attempting to offset the negative effects of tariffs imposed by US President Donald Trump by either improving technology, or opening up a broader international market.

这是我过去半年第四次在珠三角一带调研,见了数十位企业主。绝大多数都像杨先生那样,他们忙于与美国进口商谈判,或提升技术含量,或开辟更多国际市场,进而抵消对冲特朗普无端加税的消极影响。

Dongguan is home to 25 percent of smart phones, 20 percent of sweaters, 30 percent of toys and 10 percent of glasses and trainers in the global supply. The impact that the China-US trade frictions have had on it is considerable. The situation in Dongguan reflects what Chinese enterprises are undergoing amid the ongoing trade spat.

全球25%智能手机、20%毛衣、30%玩具、10%眼镜与运动鞋均产自东莞,中美经贸摩擦对东莞市的影响可想而知。所以,在东莞见到的情形,很大折射出来了中国企业在中美经贸摩擦下的状况。

Dongguan's value added of industries above designated size expanded 6.8 percent year-on-year between January and July 2019, and the rate for import and export was 4.4 percent, much higher than the national level. It's a mixed blessing for firms in Dongguan in the context of a complex situation at home and abroad. The value added of advanced manufacturing and high-tech manufacturing sectors above designated size grew at 10.4 percent and 17.3 percent respectively. The year-on-year growth rate of the electronic and information technology sector reached 17.8 percent. But the textile, clothing, footwear, headwear manufacturing sector witnessed a negative growth, dropping by 3 percent. And the papermaking and paper product sector declined by 0.7 percent.

2019年1-7月,东莞规模以上工业增加值同比增长6.8%,进出口同比增长4.4%,两者数据虽比上半年均有少许回落,但远高于全国水平。在国内外复杂严峻形势下,东莞企业喜忧参半。先进制造业、高技术制造业规模以上工业增加值分别增长了10.4%、17.3%,其中电子信息制造业同比增长高达17.8%。但纺织服装鞋帽制造业、造纸及纸制品业则呈负增长,同比分别下降3%和0.7%。

A senior executive of Huaqin Communication Technology Co Ltd, the world's leading multi-category intelligent communication terminal R&D design company, said that in the era of 5G, US technology is not superior and cannot beat Chinese enterprises. Chinese mobile phone companies have plenty of alternatives. But he admitted the production and sale of laptops may be more deeply affected due to the impact on chip technology.

在全球最大手机代工企业之一的华勤通讯,某高管表示,5G时代,美国技术不占有优势,肯定打垮不了中国企业,而手机企业有不少替代方案。当然,他承认,笔记本电脑类的生产与销售可能由于芯片技术等原因受到的影响会大一些。

In the middle of August in 2019, a survey of 587 key enterprises in Dongguan shows that after US imposed 10 percent tariffs on another $300 billion worth of Chinese goods, 24.6 percent of companies held it would not affect their order volume, 34.3 percent anticipated a slight drop (within 10 percent), and only 6.5 percent thought of a severe slump (over 30 percent). 

2019年8月中旬,一份对东莞587家重点企业的调研,美国对剩余3000亿美元清单加征关税后,预计订单量“没有影响的”占24.6%,“略有下滑(10%以内)”占34.3%,严重下滑(超过30%)仅占6.5%。

"The tenacious character of people in Dongguan determines there must be a way out in spite of difficulties." Jiang Bo, a lecturer in charge of training local entrepreneurs, said. "Trump's attempt to utilize the trade war to achieve a quick victory over China totally failed in front of Dongguan entrepreneurs."

“东莞人的顽强性格决定了,未来虽难,但一定会有出路”,主抓当地企业家培训的江波老师说,“至少特朗普想要借贸易战速胜中国的企图,在东莞企业家面前彻底破产。”

In Shenzhen firms such as DJI and Hytera, I also came across the determination of many business people. In the Shenzhen Stock Exchange, 60 percent of investors believed the trade war would last for a long time. 

在深圳大疆、深圳海能达等企业,笔者同样听到了不少企业界人士的坚定信心。在深圳证券交易所,60%投资者认为贸易战会长期持续。

Eighty percent of respondents said they would take trade war into consideration when making investment decisions, but only one-third of them chose to sell stocks.

80%被调查者在投资决策时会考虑贸易战因素,但仅有1/3投资者在减仓。


In China (Guangdong) Pilot Free Trade Zone Qianhai & Shekou Area of Shenzhen, the average growth rate of registered enterprises hit 62.7 percent between 2012 and 2018. In the first half of 2019, the value added of registered enterprises in the area increased 19.3 percent, the tax revenue achieved 23.7 percent growth and the actual use of foreign capital rose by 12.1 percent. Up to 2019, the number of companies from Hong Kong, Macao and Taiwan which Qianhai had nurtured reached 190.

正如《日本经济新闻》报道,中国无惧“比拼耐力”。在深圳前海,人们“用脚投票”表达着对中国前景的想法。据报道,2012年至2018年,前海蛇口自贸片区注册企业年均增长率高达62.7%。2019年上半年,片区注册企业实现增加值增长19.3%,实现税收收入同比增长23.7%,实际利用外资增长12.1%。2019年,前海累计孵化港澳台及国际团队190家。

Based on my research, I found the China-US trade war has had a diverse impact on different industries. Sectors such as finance, energy and raw materials have been hit, while the industries like consumption, information technology and telecommunications, and healthcare are hardly affected.

通过几次调研,不同行业,对中美贸易战的感受不尽相同,有的甚至大相径庭。金融、能源、材料等行业受冲击较大,消费、信息技术及电信服务、医疗保健等行业则是利好。

China and the US signed a phase one agreement related to the trade war on Friday. It has been widely discussed who the winner is. According to the results of my research, I believe that China has not lost, nor has the US won. It is too early to draw a conclusion.

2019年最后一个月第二个周末,中美两国终于达成了第一个阶段的协议。舆论中到处在揣测着谁输谁赢的评论。从实际调研的现实,以及美国先发动贸易战的逻辑讨论,我的看法是,中国没输,美国也没有赢。谈结论,为时还太早了。

However, if China can weather the test of the trade war with the US, improve the quality and efficiency of development, accelerate the impetus for reforms, tackle the vested interests and institutional shortcomings and reap the benefits of a new round of reform and opening-up, the trade war is not a curse, but a blessing. 

不过,如果中国能够度过这场中美贸易战的考验,推动中国经济发展提质增效、行稳致远,激发改革动力,坚决破除各种利益的藩篱和体制机制的弊端,充分释放下一轮改革开放的新红利,那么,这场贸易战对中国而言不是坏事,反而是好事。



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中国人民大学重阳金融研究院(人大重阳)成立于2013年1月19日,是重阳投资董事长裘国根先生向母校捐赠并设立教育基金运营的主要资助项目。

 

作为中国特色新型智库,人大重阳聘请了全球数十位前政要、银行家、知名学者为高级研究员,旨在关注现实、建言国家、服务人民。目前,人大重阳下设7个部门、运营管理3个中心(生态金融研究中心、全球治理研究中心、中美人文交流研究中心)。近年来,人大重阳在金融发展、全球治理、大国关系、宏观政策等研究领域在国内外均具有较高认可度。


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