It is to be expected if you limit trade to what you want to sell instead of what others want to buy. I am not even necessarily talking about technology. For example American tourists can feel quite at home in Europe due to the widespread use of English. Beside the language issue, Europe (other than some shop owners) weren't particularly happy when there was a surge of Chinese tourists. Even Hongkong wasn't happy.
hunglee2 · 16h ago
You cannot complain about 'trade deficit' and proceed to implement policies which expands said deficit.
China wants to buy American, but US export controls on the stuff they want to buy means they have go elsewhere or make their own. Meanwhile, US consumer goods remain in high demand - Apple, Tesla, McDonalds, Starbucks - are ubiquitous, though each now with strong domestic competitors.
It reminds me the “First Opium War”[1] that “Qing dynasty of China did have a favorable balance of trade, primarily exporting goods like tea and silk and importing very little from Britain” (summarized by ChatGTP).
China wants to buy American, but US export controls on the stuff they want to buy means they have go elsewhere or make their own. Meanwhile, US consumer goods remain in high demand - Apple, Tesla, McDonalds, Starbucks - are ubiquitous, though each now with strong domestic competitors.
[1]https://en.m.wikipedia.org/wiki/First_Opium_War