An aerial drone photo taken on March 20, 2024 shows a container ship berthing at the Tianjin Port in Tianjin, north China. [Photo/Xinhua]

In an exclusive interview with China.org.cn, Professor Michael R. Powers of Tsinghua University's Schwarzman College expressed optimism about China's economic growth target for 2024 despite the challenges posed by the current global economic environment.

"China's GDP growth target of around 5% for 2024 is positive and consistent with the nation's developmental trajectory as it transitions from a manufacturing-driven economy to a more diversified and mature one," Powers said. He stressed that China's resilience should be considered in the context of previous global challenges, including the trade war and the COVID-19 pandemic. Overall, Powers observed that the Chinese economy is maintaining stability while demonstrating an upward trend.

Reflecting on the Central Economic Work Conference held last December, Powers highlighted the more proactive fiscal policies and moderately loose monetary measures discussed during the event. He contrasted these with the broader, less focused economic strategies adopted by the United States. "The lack of specificity in U.S. measures often results in significant government spending without achieving desired outcomes, such as curbing inflation," Powers explained.

He also suggested stimulating consumption in key sectors such as technology, green energy and advanced manufacturing, while energizing the private sector to drive employment growth.

Addressing President-elect Donald Trump's threat to impose tariffs on goods from China, Canada and Mexico, Powers identified two motives behind such rhetoric. On the one hand, it aims to support domestic manufacturing and appeal to voters; on the other, it serves as a form of external pressure. However, Powers characterized Trump as highly unpredictable, noting that his positions can shift rapidly. He suggested that Trump may pivot from imposing tariffs to negotiating with China in pursuit of mutually beneficial cooperation.

Powers warned of the largely detrimental effects of decoupling, arguing that it creates barriers to collaboration in critical fields such as manufacturing, technology, artificial intelligence and communications. He noted that decoupling risks fragmenting the global economy, compelling smaller nations to align with either China, the U.S., or the European Union. Powers asserted that such fragmentation is an inefficient path forward.

Turning to Sino-U.S. cultural exchanges, Powers expressed concern over the negative rhetoric about China from certain U.S. politicians, which has led to misunderstandings and ignorance among some Americans about the country. He suggested that increased travel to China by Americans could help bridge this gap. "It's important to have more Americans visit China to see that it is a very nice country," Powers said. "Especially those who are educated and business-oriented, as they will see more positive aspects of China."

Additionally, Powers urged China to expand and export its popular culture. He pointed to the success of Japanese anime and South Korean pop music in the U.S., arguing that China could similarly develop its cultural soft power to enhance mutual understanding. He suggested that animated content could serve as a cultural bridge, highlighting shared human experiences and humor. Powers recalled learning Chinese through the animated series "Big Ear Tutu," which showcased shared aspects of humor and culture in both China and America.

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