The History And Lessons Of The US-Japan Trade War

The possibility of where the Sino-US trade conflicts go has captured the world's heart.It not only affects the prospects of the two largest economies,but also concerns the prosperity of global economy as well as the future of globalization.That's also the focus of academy circles,government,media and public.Taking history as a mirror,this paper looks back on the economical miracle of Japan,the changes of bilateral economical relations,trade competition and the solution of trade war between the US and Japan.US-Japan trade war came from the booming Japan's exports to the US and huge amount of trade deficits.Besides,the flourishing development of some industries of Japan had also triggered competition form the US's rivals,and then came the trade disputes.The trade conflicts mostly ended with the US's taking pressure,changing the exchange rate and Japan's automatic restraints on exports.There are both advantages and disadvantages for Japan.But for the US,it did not decrease the trade deficits fundamentally.Concerning the history and lessons of US-Japan trade war,this paper holds that the Sino-US trade conflicts are much more complex and harder to solve,for it involves more influences from politics,security and strategic consideration.China is more independent than Japan and the economic disputes with the US focus on the high-techs and developmental potentials with more strategic considerations.Based on the experience and lessons of the US-Japan trade war,the author believes that the Sino-US trade conflicts still need to be solved through negotiation and interest replacement. America as the final consumer market and high and new technology hub,relatively has more advantage and economic influence than China,thus,China could consider to increase imports,which is also helpful to meet domestic consumption demand. Meanwhile,consider the high and new technology industry is critical to the prospect of Chinese economy,China must vigorously develop high and new technology industry,adhere to the path of independent innovation with Chinese characteristics,and never give up the building of competitive advantage. In order to promote the development of science and technology innovation,China still needs to continue to strengthen the awareness of intellectual property rights,perfect the system of intellectual property rights(IPR)protection, avoid getting in a disadvantageous position in international trade repeatedly because of intellectual property right issues,and maintain a reputation for made in China. At the same time,China should continue to develop diversified markets,promote regional cooperation and open the market of developing countries through One Belt And One Road infrastructure construction.China must stick to the bottom line and never give up the long-term interests of development.China is supposed to go on its domestic reform and opening up,so as to foster competition.Besides, China should be aware of the importance of world trade organization(WTO)currently,and unify other countries,especially the emerging economies to jointly safeguard the system, and prevent further damage to the multilateral system.