Chinese Media Foresee a ‘Long-Term Battle’ with U.S., Call for Calm, Measured Response

May 28, 2020 (EIRNS)—There is a noticeable shift in tone in China’s semi-official media, in response to the escalating attacks on the country coming from Secretary of State Mike Pompeo, White House adviser and China negotiator Peter Navarro, Defense Secretary Mark Esper, and even President Trump himself, over the course of month of May to date. Global Times editorialized that,

“In the face of U.S. aggression, China should adopt a calm mentality and be prepared to engage in a long-term battle with the U.S.... As China maintains its powerful nuclear deterrence and boosts its military strength, the U.S. will not readily resort to a military showdown with China over China’s core interests. Decoupling is the last trump card the U.S. has.... If the U.S. insists on decoupling with China in sectors where its own strength is shrinking, let it be.”

Responding to Pompeo’s open threats to damage Hong Kong’s role as an international financial center, the editorial continued: “If a financial war spirals out of control, it is the U.S. that will suffer the most. With its real economy shrinking, the U.S. economy is largely relying on the financial sector, which means launching a financial war equals self-harm.... The China-U.S. ‘battle over Hong Kong’ is on.”

A second Global Times editorial stated:

“There is growing speculation that the U.S.’s strong response may open a new front in the U.S.-China confrontation, which could escalate into a ‘financial war’ and lead to regrettable economic repercussions. A financial war is very different to the exchange of trade sanctions. Punitive trade measures may target a country’s trade sectors or companies, but it is hard to punish a country’s financial market precisely.”

The editorial continued:

“If Trump takes on China in the financial field, he would roil the global markets, as such a war would certainly go beyond Chinese and U.S. markets. No developed countries could shelter their open financial systems from the shocks. The Trump administration needs to think about consequences before taking any reckless moves, because no one knows how fast market risks could spread and what crisis they may cause.”