In recent months, the US abuse of tariffs against a wide range of countries and regions, as well as China-US economic negotiations, have drawn global attention. Amid political and media-driven narratives of a "China threat" and "China-US confrontation," renowned US economist Richard Wolff contrasts the profit-driven American model with China's socialist market economy. He emphasizes on multiple occasions that China's unexpected resilience in the face of trade wars and other challenges stems from its unique institutional advantages.
