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胡晓炼:劳动密集型产业缺乏竞争力,关税政策难促美国制造业回流
Feng Huang Wang Cai Jing·2025-05-17 10:29

Group 1 - The 2025 Tsinghua Wudaokou Global Financial Forum was held in Shenzhen, focusing on building an open and inclusive economic and financial system [1] Group 2 - Hu Xiaolian, former chairman of the Export-Import Bank of China, emphasized that the U.S.-led tariff policies are unlikely to achieve their intended goals, and the fundamental solution to trade imbalances requires adjustments in each country's economic structure [5] - The core objectives of the U.S. tariff policies include reducing trade deficits, increasing fiscal revenue, and restructuring the international economic order, but the actual return of manufacturing to the U.S. is uncertain and challenging [5] - Hu noted that the U.S. lacks competitiveness in general processing and labor-intensive industries, leading companies to prefer relocating to regions with lower tariffs and better cost structures, particularly in global South and emerging market countries [5] Group 3 - Hu further stated that the rebalancing of global trade will lead to profound adjustments in the internal economic structures of major economies, highlighting the need for countries to focus on domestic economic adjustments to effectively address trade imbalances [6] - Historical experience suggests that trade imbalances can only be effectively resolved when a country's internal economic structure develops in a more balanced manner [6]