July 15th, Foreign Ministry spokesperson Lin Jian presided over a regular press conference.
A reporter asked that we noticed that some foreign media, such as the Financial Times, cited latest research data stating that if the United States and Europe wish to become largely independent from China's key supply chains by 2050, they will need an additional investment of $23.6 trillion over the next 25 years. It is almost impossible to establish a complete alternative system in the short term. How does the spokesperson view this opinion?
"Your point precisely illustrates the current global interweaving of production and supply chains, with advantages complementing each other. It has already formed a community of mutual benefit where one win benefits all, and one loss impacts everyone." Lin Jian pointed out that artificially severing ties in the supply chain, erecting protectionist barriers, and forcibly reconstructing the entire chain will incur high economic costs. This also violates market principles and corporate choice, ultimately leading to greater losses and less profit.
Lin Jian said that true sense of security comes from cooperation, not isolation. Maintaining the safety, stability, and smooth flow of global supply chains is a common responsibility for all countries. China will continue to expand its opening up at a high level, fully leverage the advantages of its super-large market and complete industrial system, and consistently provide high-quality products and cooperation opportunities to the world.
"We also wish to cooperate with countries worldwide, abandoning the logic of camps and confrontations, and pushing for a global production and supply chain that truly becomes mutually beneficial. We must inject stable momentum into global common development." He said.
The British 'Financial Times' cited a study by EY-Boschlong on the 13th, stating that if the United States, the Eurozone, and the UK wish to become largely independent of China's key industries and supply chains by 2050, they need to rebuild their manufacturing systems, restore research capabilities, and establish supply chain networks over the next 25 years.
According to their calculations, the cost of this approach is as high as 23.6 trillion US dollars. The United States will need to invest an additional 13.7 trillion US dollars during this period, the Eurozone will need 9.1 trillion US dollars, and the UK will need about 800 billion US dollars. However, the study suggests that even with such massive investments, it is almost impossible for Europe and the United States to break away from their dependence on the Chinese supply chain in the short term.
