context: Analysts like Bai have taken a common approach to refuting Pence's 4 October address, generally arguing that US criticism is hypocritical and politically motivated, and that China is the nation ultimately concerned with global welfare.
US Vice President Mike Pence labeled China’s Going Global strategy ‘untenable’ and responsible for causing varied problems within the international economic order, writes Bai Ming 白明 Ministry of Commerce International Market Research Institute deputy director. Western multinational corporations also exert negative global influence, Bai notes, yet the US has never criticised them.
US accusations against Chinese companies, explains Bai, rest on three theories
- that Going Global is a vector of 'debt diplomacy’
- Pence labeled Chinese infrastructure projects deals ‘opaque’
- in fact, China’s construction of the Hambantota port will improve Sri Lanka’s
- regional transportation infrastructure
- international shipping industry
- employment opportunities
- ‘resource grab theory’
- at this stage, Chinese companies’ Going Global is based on mutual benefit and win-win cooperation
- the Belt and Road Initiative (BRI) reflects these beneficial values
- at this stage, Chinese companies’ Going Global is based on mutual benefit and win-win cooperation
- ‘technology theft theory’
- many believe that Beijing is coordinating Chinese businesses’ investment in the US to steal American technology
- yet some former US officials deny this: Chinese technological development is due to education and scientific talent
- many believe that Beijing is coordinating Chinese businesses’ investment in the US to steal American technology
The US complains that China does not contribute enough to globalisation, writes Bai, while simultaneously depriving China of economic opportunities. Chinese companies’ process of Going Global should not be disrupted by those with ulterior motives, he says.