China has labeled the United States and its president "the world's biggest destabilizing factor" while calling for Trump administration to desist from further harming an already uneasy global economy.
Chinese Foreign Minister and State Councilor Wang Yi leveled this unduly harsh criticism of the U.S. and President Donald Trump on the sidelines of the G20 foreign ministers meeting in Nagoya, Japan over the weekend.
"The United States is broadly engaged in unilateralism and protectionism, and is damaging multilateralism and the multilateral trading system," said Wang to Dutch Foreign Minister Stef Blok. "It has already become the world's biggest destabilizing factor."
Wang also said Trump has, for his political purposes, used the machinery of the U.S. state to suppress legitimate Chinese businesses. Trump has also laid baseless charges against them, which is an act of bullying, according to Wang.
"Certain U.S. politicians have smeared China everywhere in the world, but have not produced any evidence."
Wang also said the U.S. has used its domestic law to "crudely interfere" in China's internal affairs. He also accused the U.S. of trying to damage the "one country, two systems" principle governing Hong Kong and Hong Kong's stability and prosperity.
Wang also said China's development and is an inevitable trend of history no force can stop.
"There is no way out for the zero-sum games of the United States. Only win-win cooperation between China and the United States is the right path."
The growing U.S. trade deficit with China underlies the failure of Trump's trade war against China. The U.S. merchandise trade deficit alone versus China in 2018 came to a staggering $419.5 billion -- the largest on record and proof that by Trump's own mercantilist standards, he is losing the trade war against China he began 20 months ago. It was 21% larger than the $346.8 billion trade deficit in former president Barack Obama's last full-year as president in 2016.
Experts now confidently predict this already mammoth merchandise deficit will post another embarrassing record in 2019. From January to September this year, the overall trade deficit at $481.3 billion is already larger than 2018's total trade deficit. The January to September total is also $24.8 billion larger than the same period in 2018.
Trump is again losing in terms of the total trade deficit. In 2018, the total deficit skyrocketed to $627.7 billion, an increase of $124.7 billion. This deficit is on track to jump even higher for the full-year 2019. In contrast under Obama in 2016, America the total trade deficit in goods and services amounted to $502.9 billion.
Experts said the continuing reduction in the volume of trade since the start of Trump's trade war versus China now means fewer jobs for Americans. Some 11 million Americans owe their jobs to trade with China, according to data from the U.S. Department of Commerce.
