4 hours ago
Last Updated:November 25, 2024, 11:36 IST
The US Department of Government Efficiency, led by Elon Musk and Vivek Ramaswamy under Trump's second term, poses a challenge to China's system, a Beijing official has said.
Donald Trump and Elon Musk (Photo: AFP)
The Department of Government Efficiency, headed by Elon Musk and Indian-origin entrepreneur Vivek Ramaswamy under Trump 2.0, will be the biggest threat to China, according to Zheng Yongnian, China’s top academic and policy advisor to Beijing, news agency PTI reported.
Yongnian also said the team of the duo would put huge pressure on China’s current system and that his country would now have to compete with a far more efficient US political system.
“A more efficient US political system would put huge pressure on China’s current system," Zheng, dean of the School of Public Policy at the Chinese University of Hong Kong’s Shenzhen campus, said while speaking at Baichuan Forum hosted by the Institute for Affairs (IIA) on November 23.
“Of course, the pressure is not exclusive to China but also others, especially Europe," he said.
“In the medium to long term, the greatest pressure on China may come from changes within the US," Zheng said, adding, “If Trump succeeds in his efforts to overhaul the government, the US would develop a new, more competitive system".
The official also called it a form of “state capitalism with American characteristics".
“I think we should not underestimate the institutional reforms prioritised by figures like Musk," he warned, the Hong Kong-based South China Morning Post reported on Sunday.
Zheng also said that to counter the US internal changes China should expand opening up countermeasures, adding that Trump may damage bilateral ties with tariffs but “he does not want to go to war with China".
Trump’s “tariff stick" against China under his “America First" policy approach would not only “maximally" damage bilateral relations but also sabotage the international trade system, he added.
US, CHINA, AND TARIFFS
According to PTI, China is gearing up for Trump’s second term, beginning on January 20 next year, on several fronts, including his threat to impose a 60 per cent increase of tariffs on its over USD 427 billion annual exports to the US.
Trump, who acted tough on China during his previous term, is expected to reinforce measures against Beijing on various global fronts, including Taiwan and the South China Sea.
China asserts Taiwan as part of its mainland and claims ownership over most of the South China Sea.
The Philippines, Vietnam, Malaysia, Brunei and Taiwan have counterclaims over the area.
To counter tough tariff increases by the incoming Trump administration in the US, China announced new policy measures on November 21 to back its export sector against “unreasonable foreign trade restrictions" and to create a “good environment" for its exports.
At the APEC Economic Leaders’ Meeting in Peru and the 20 summit in Brazil last week, Chinese President Xi Jinping during his meetings with a host of world leaders reaffirmed China’s commitment to promote “high-standard opening up" for investment and trade.
As part of new measures to open up, China added nine more countries, including Japan to its unilateral visa-free entry scheme, taking the total to 38.
DEPARTMENT OF GOVERNMENT EFFICIENCY
Tech tycoon Musk, the world’s richest person, was tapped to lead a new Department of Government Efficiency, along with wealthy Trump ally Vivek Ramaswamy. Both will supposedly remain private citizens.
Musk says he is targeting 2 trillion dollars in cuts from the federal government’s 7 trillion dollar budget, pledging to test legal boundaries to achieve it.
The duo has already planned to scrap “thousands of regulations" and reduce the size of the government workforce.
Location : First Published:November 25, 2024, 11:21 IST
News world 'Huge Pressure On China': Xi Advisor Terms Musk's Department In Trump 2.0 'Biggest Threat'
