Obama revealed the reason for not doing a trade war with China

Former President Obama said he would be tougher with China on trade if there was no global financial crisis in 2008-2009. China's role in the recovery of the global economy after the 2008-2009 financial crisis has hindered China's ability to deal with solemn policies that violate international trade rulesm, Former President Barack Obama said in an interview with The Atlantic on 17/11.

Mr. Obama said, I couldn't have a trade war in 2009 or 2010. At that time I needed the cooperation of China, Europe, and any other potential growth engine, to restart the economy. global.

The former US president added that he now thinks it is perfectly justified to be tougher on China on trade matters.

In his newly published memoir A Promised Land, Mr. Obama shares the role of China's record-breaking $ 586 billion economic stimulus plan in supporting the global economy. the early stages of his presidency, from 2009 to 2017. He writes that this is why it is difficult for him to hold Beijing accountable for evading, bending, and breaking all agreed rules. about international trade.

The Chinese government then committed to working with Western economies to overcome the aftermath of the financial crisis, the biggest shock to the global economy since the Great Depression in 1929.

Obama wrote, to pull us and the rest of the world out of a crisis, we need China's economy to grow not a recession. China won't change its trade without pressure. I just want to make sure we don't start a trade war that plunges the world into a recession and hurts the workers I'm committed to helping.

During his visit to China in 2009, the US president also raised issues surrounding major trade imbalances and Chinese currency manipulation and other unfair behavior in the meeting. to Wen Jiabao, then the prime minister of China.

Wen added that asked me to give him a list of American products that we want China to buy more and he will see what he can do.

The former US president said, I have a feeling that I am haggling on chicken market prices rather than negotiating trade policies between the two largest economies in the world.

The US-China relationship has fallen to the lowest level in decades, when the two countries confronted each other in many fields, notably trade. President Donald Trump has always insisted he is "more adamant" to Beijing than any other US president. The White House boss has also warned Biden will be soft with China if elected.

However, many experts say Biden's trade policy with China will be as tough as Trump. On November 16, Biden pledged to work with other democracies to prevent China and other countries from deciding the game because they think they are the most important person.