China Economy (Credit:Top Indian News)
New Delhi: China's success has proven that the world no longer needs the American model. This is why the US is targeting China not out of ideology, but out of fear, according to American economist Jeffrey Sachs. According to Sachs, China has refused to be subservient to the US and has created a successful alternative economic system. The US views this as a threat to its international dominance. Therefore, it is pursuing a Cold War-like "encirclement" strategy against China. This includes increasing military power in Asia, imposing restrictions on technology exports, and pressuring allies. Sachs warns that this approach could make conflict inevitable.
Jeffrey Sachs's remarks come at a time when US President Donald Trump has erected a tariff wall against India. He has imposed a 50% tariff on Indian goods. The US is using every tactic to pressure India. The recent steep increase in H-1B visa fees is one of them. India is repeatedly being threatened for purchasing Russian oil. While Europe and China buy far more energy from Russia than India does, it's natural to question whether India is paying the price for the tug-of-war between China and the United States. Both countries want to keep India in their camp. India's relations with China have improved amid tensions with the United States.
Sachs says that after the Cold War, China was supposed to become an economic colony of the United States. But China didn't do that. Instead, it created a highly successful alternative system. This system doesn't follow the rules of American capitalism. According to Sachs, this challenges the very foundation of America's global dominance. He said, "China was supposed to develop in a way that was subservient to the United States. It didn't do that... Now it has to be punished." Sachs also stressed, "This isn't about communism. It's about success with a different model."
Sachs, a professor at Columbia University, has long been a critic of US foreign policy. He warns that the US is increasingly adopting a Cold War-era "encirclement" strategy. This strategy involves increasing military power in Asia, imposing restrictions on technology exports, and trade agreements designed to keep China out. At the same time, allies are being pressured to isolate Beijing.
Sachs believes these efforts reflect America's deep insecurity. US policymakers view unquestioned dominance as a right, not a privilege. Sachs further said, "The American mindset is not conducive to cooperation. It is about maintaining superiority rather than peaceful coexistence."
Sachs said that China wants to coexist as a great power. Its goal is not to replace the US. Of course, it wants to prove that a multipolar world is possible. But economists warn that the path Washington is taking could make conflict inevitable.
Sachs cautioned, "This saber rattling could become a self-fulfilling prophecy." Economic rivalry could escalate into open confrontation. The key issue is that China's rise undermines the notion that American-style capitalism is the only way. Sachs argues that what scares Washington most is not that China is different, but the fact that its model is working and successful.
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