own rules of the world economy

According to an analysis by a US newspaper, the US strategy to isolate China from international trade in Asia last year has not been successful. America had asked its allied Asian countries to reduce their economic dependence on China. But in fact, most Asian countries have strengthened their economic relations with China over the past year. Now American economists are considering why this happened. Economists at the Wall Street Journal have said that the general tendency in countries with small economies is to strengthen economic relations with the larger country in their neighbourhood. This general economic principle has been put into practice in Asia this year. As a result, China continued to be a major supplier of products such as machinery, automobiles, etc. to Asian countries at a relatively cheaper rate. With this, China’s new strategy to increase trade with Asian countries seemed successful. Due to tense relations with Western countries, China has adopted this strategy, placing special emphasis on increasing trade with neighboring countries.
On the other hand, America’s own policies have steered it in the opposite direction. It pulled out of free trade agreements because of competitive domestic politics. Economists have said that unless the US changes its policy on free trade agreements and allows Asian countries access to its huge manufacturing and consumer markets, its strategy to reduce China’s influence will not succeed. The situation is that due to the new situation in the world, many countries have taken the initiative to create production centers on their own. But this has made no difference to Chinese trade. For the things for which these countries have set up factories, parts and components are often imported from China. India is also an example of this, which is emerging as a major center for smartphone manufacturing. But the reality is that parts and raw materials from China are also used in the smartphones that are made here.