中方给了贝森特面子，但美国输了底子，经济学人：美国输了贸易战

Group 1 - The core viewpoint of the article highlights the ongoing tensions and challenges in the US-China trade negotiations, with both sides maintaining a hardline stance while attempting to project a facade of progress [1][3][5] - The negotiations were characterized by a lack of alignment on key issues such as tariff extensions and export controls, indicating that substantial agreements were not reached [5][7] - Despite the tough rhetoric, both parties managed to provide each other with diplomatic cover, suggesting a willingness to continue discussions without making significant concessions [3][7] Group 2 - The article points out that the US's strategy of imposing tariffs and technology restrictions has not effectively curtailed China's exports, with daily shipments still reaching $1 billion despite tariffs [8][10] - In the third quarter of 2024, China's exports to the US exceeded $100 billion, with a trade surplus of nearly $67 billion, indicating resilience in its export sector [10][11] - China's manufacturing sector continues to dominate globally, holding a 30% share, which has increased by 5 percentage points since the trade war began [10][13] Group 3 - The article discusses the failure of the US's technology blockade, as China's self-sufficiency in chip production has significantly improved, with the self-sufficiency rate rising from 15% to 50% by 2025 [13][15] - Huawei has successfully navigated US restrictions, selling its new 5G equipment in over 120 countries, showcasing China's ability to adapt and innovate despite external pressures [15][16] - China's export diversification strategy has led to an 8% overall increase in exports in 2024, with significant growth in exports to ASEAN and Europe, particularly in new energy vehicles and solar components [16][18] Group 4 - The article emphasizes the strengthening of China's domestic market, with retail sales growing by 6.5% in 2024, surpassing export growth, indicating a robust consumer base [21] - China's GDP growth rate of 5.2% in 2024 outpaces the US's 2.5%, reflecting the resilience of its manufacturing sector and technological advancements [21] - The expansion of China's international partnerships through initiatives like the Belt and Road Initiative has enhanced its global trade network, with investments in developing countries increasing by 15% in 2025 [18][21]