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Zhou Xiaochuan, former governor of the People's Bank of China and President of the China Finance Society, believes that after the United States began its trade war, tariffs and other barriers were used. Now it seems that this process is not limited to trade, but there are many other considerations behind it, including politics, military affairs, values, science and technology and so on. This process may be long-term.
He said at the Forty People's Forum held in Yichun, Heilongjiang Province, on Saturday that from a global perspective, resource allocation would be greatly distorted or obviously distorted, possibly considering China's response strategies under distorted conditions, including the strategy of opening to the outside world.
Zhou Xiaochuan said that although he did not want to see a trade war, it would be inevitable for China to impose reverse sanctions if tariff barriers or other actions were taken against China. These practices will also have a significant impact on international and domestic openness and the role of the market in resource allocation.
He pointed out that there might be a distorted market in the future. In addition to the trade war, the emergence of the second market distortion is related to the development of modern science and technology, that is, to the development of financial science and technology. The third change is the adoption of currency-based economic sanctions led by the United States, involving Russia, Iran, Venezuela and so on.
They can do so on the basis of their control over reserve currencies, Global trade and investment trading currencies, that is, the US dollar, and there may be new ways to control global trading currencies in the future.


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