He aha te hua o te pakanga ōhanga a te US ki a Haina?

（I tāia anō mai i te pūkete mana o te Oriental Finance Magazine, nā Yan Ansheng, te tumuaki tuarua o te Hong Kong Journal Media Association.）

Mai i te tau 2025, kua piki haere te pakanga hokohoko Sino-US, ā, kua whakaatuhia e te whakataetae i roto i ngā mara o ngā taripa, te hangarau, me ngā mekameka ahumahi he ia o te pakanga maha-ahu. Kua whakarewahia e ngā taha e rua ngā pakanga kaha mō ngā kaupapa matua pēnei i ngā semiconductors, ngā waka pūngao hou, me te ahuwhenua. I te 2 o Paenga-whāwhā, 2025, i kī te kāwanatanga o Amerika ka whakatakotohia e rātou he "taripa tauutuutu" mō ngā taonga Hainamana e kaweake ana ki te United States, me te reiti taake o te 34%. I te whakakotahitanga me te taripa 20% mai i te tau 2018, kua eke te reiti taake whānui ki te 54%. Kāore a Haina i te tino pai ake. I te 4 o Paenga-whāwhā, i tere te whakauru a Haina i te kaupapa here taripa tauutuutu "34% ki te 34%", me te whakatakoto i te taripa 34% mō ngā taonga kawemai katoa e ahu mai ana i te United States, e pā ana ki ngā hua ahuwhenua, te pūngao, ngā motuka me ētahi atu mara. I taua wā anō, kua whakaurua e Haina te 16 ngā hinonga o Amerika ki te rārangi whakahaere kaweake, e aukati ana i te kaweake i ngā taonga whakamahi-rua ki a rātou; ā, i whakaurua ki roto i te rārangi hinonga kore pono te 11 kamupene, e aukati ana i a rātou ki te whai wāhi atu ki ngā mahi kawemai me te kaweake me Haina. Hei tāpiri, kua whakamutua e Haina ngā whakaritenga kaweake a ngā kamupene US e 6 mō ngā hua ahuwhenua ki Haina, ā, kua whakatinanahia ngā mana whakahaere kaweake mō ngā taonga e pā ana ki te whenua onge reo-rahi me te taumaha.

Mai i te pakanga hokohoko hou o Haina-US, ka kite tātou kei te kaha haere ngā mahi ārai a Haina. Nō reira, ko wai ka toa i te pakanga ōhanga o Haina-US i te mutunga? Ehara i te mea uaua ki te whakatau mā te arotake i te whakataetae ōhanga o Haina-US mai i te tau 2018.

He pēhea te pānga o te pakanga hokohoko ki te Hononga o Amerika?

I te tau 2018, i whakarewahia e te whakahaerenga a Trump, te perehitini o Amerika i taua wā, he pakanga hokohoko ki a Haina, ā, i kaha ake te kino i te wā o te whakahaerenga a Biden. Heoi, e whitu tau i muri mai, kāore i te tutuki noa i te United States āna whāinga i tumanakohia, engari i pāngia hoki e ngā mate nui, ngā raruraru, me te whakaatu i ōna papa tahanga. Nā te pakanga hokohoko a Amerika i whakaiti te kino ki a Haina, engari ko te kino ki te United States tonu kua nui atu i ngā tumanakohanga a ngā Amerikana, e kitea ana i roto i ngā āhuatanga e whai ake nei.

Tuatahi, kua pāngia ngā kaitōrangapū o Amerika e te pānga hinengaro kāore i kitea i mua. I roto i te pakanga hokohoko, kua pai ake te hokohoko ki tāwāhi o Haina i te nuinga, ā, ka taea te kī ko te roa o te pakanga, ko te kaha ake. Haunga te pānga tuatahi o te pakanga hokohoko ki ngā kaweake, kua whai wāhi te kaupapa here pumau hokohoko ki tāwāhi a Haina i roto i te wā poto rawa. Mā te whakapakari i te mahi tahi me ngā whakawhitiwhiti kōrero me ngā tūāpapa me ngā tikanga pēnei i te RCEP, te Belt and Road Initiative, me ngā whenua BRICS, kua tere te whakakī a Haina i te āputa i roto i te whakahekenga o te hokohoko ki te United States, ā, kua ahu whakamua tonu, me te tipu haere tonu o te hokohoko ki tāwāhi i ia tau. E whakaatu ana ngā raraunga mana ka eke ngā kaweake a Haina ki te 25 trillion yuan i te tau 2024, ā, ka neke atu tana toenga hokohoko i te 1 trillion tāra US, ehara i te mea ko te mea nui rawa atu i roto i ngā kaweake a Haina, engari ko te mea nui rawa atu hoki i roto i te hokohoko o te ao. I roto i tēnei pakanga hokohoko, i tetahi taha, ka kite ngā Amerikana i tō rātou tūranga i roto i te hokohoko ki tāwāhi o Haina e heke tere ana. I tētahi atu taha, i te kitenga atu i te pikinga o te hokohoko ki tāwāhi a Haina, kei te pōhēhē ngā kaitōrangapū o Amerika, ā, kāore i kitea i mua te manukanuka hinengaro me te whiunga kua pā ki a rātou.

Tuarua, kua piki ake te reiti pikinga utu i te Hononga o Amerika, ā, he uaua ki te whakaheke, ā, kua nui te kino ki te iwi o Amerika. Ko te pakanga hokohoko i whakarewahia e Trump me tana uri, a Biden, ki a Haina, i whakarewahia i roto i te horopaki o te korenga o te whakakapinga ahumahi i te Hononga o Amerika. Ahakoa i tautoko kaha te Hononga o Amerika i te hanga me te hanga o Mexico, Īnia, Vietnam me ētahi atu whenua hei whakakapi i ngā hua Haina, ko ngā wāhanga matua o te umanga hanga i ēnei whenua e tino whakawhirinaki ana ki te tuku o te mekameka ahumahi o Haina. Inaa, kua tino hē te whakaaro o te Hononga o Amerika mō te whakakapinga kawemai i Īnia, Vietnam me Mexico. Kāore i tino pāngia te mekameka ahumahi o Haina e te pakanga hokohoko i whakarewahia e te Hononga o Amerika. Engari, ko ngā taripa i whakatakotoria e te Hononga o Amerika i runga i ngā kawemai Hainamana, ko te nuinga o te wā ka tukuna ki ngā kaihoko o Amerika, ā, kua noho hei tetahi o ngā take matua mō te pikinga utu teitei i te Hononga o Amerika. Mai i te whakarewatanga o te pakanga hokohoko a te whakahaere a Trump ki a Haina, inā koa mai i te pakarutanga mai o te mate urutā COVID-19, kua piki haere tonu te reiti pikinga utu o Amerika, ā, kua piki haere te utu o ngā mea katoa. Ahakoa kua tangohia e te kāwanatanga o Amerika ngā mahi tino kaha hei aukati i te pikinga o ngā utu, kāore anō kia eke te pikinga utu ki te taumata e tika ana. Kei te amuamu nui te iwi o Amerika, ā, he mutunga kore ngā whakapae me ngā mahi tukino ki te kāwanatanga o Amerika. Kāore i tumanakohia tēnei hua e te kāwanatanga o Amerika.

Tuatoru, kua hurahia te ngoikore o te mekameka ahumahi o Amerika, ā, kua ngoikore haere ngā ngoikoretanga o te umanga hanga. Ko tētahi o ngā kaupapa a te kāwanatanga o Amerika ki te whakarewa i tētahi pakanga hokohoko he kukume i te hanga ki te Hononga o Amerika, me te whakapakari anō i te umanga hanga o Amerika. Heoi, ko te ritenga kē te mea i tupu. Mai i ngā hua o te tata ki te whitu tau mai i te whakarewatanga o te pakanga hokohoko a te Hononga o Amerika, ehara i te mea kāore anō te umanga hanga kia hoki ki te Hononga o Amerika, engari kua pakaru hoki te mekameka ahumahi taketake o te Hononga o Amerika. Kua pakaru te pūnaha wehewehe mekameka ahumahi o te ao whai hua i hangaia e ngā kamupene o Amerika. He roa te wā ki te kimi i ētahi atu kaiwhakarato, ā, kāore e taea te whakatutuki i te kounga me te whai hua o te mekameka tuku taketake. Heoi anō, ko te koretake i puta mai i te pakanga hokohoko kua meinga hoki te maha o ngā kamupene o Amerika kia mangere ki te whakatau i ngā whakataunga pēnei i te haumi me te whakawhānui, ka pā ki te whanaketanga pumau mō te wā roa o te mekameka ahumahi. Hei tauira, he maha ngā kamupene o Amerika e whakawhirinaki nui ana ki ngā kawemai mai i Haina mō ngā rauemi mata, ngā wāhanga, me ētahi atu. Hei tauira, ko te umanga hikohiko. Ko Haina te kaihanga matua o ngā wāhanga hiko maha. Nā te pakanga hokohoko ka uaua ki ngā kamupene o Amerika te whiwhi tuku pumau, ka piki ake ngā utu, ka pakaru hoki te ahunga whakamua o te whakaputanga. Hei tauira, kei te raru a Apple i te korenga o ngā wāhanga hanga. Nā te pakanga hokohoko i aukati te kawemai o ngā kamupene hanga ā-rohe ki te Hononga o Amerika, ā, nā tēnei i whakaatu anō i te ngoikore o te umanga hanga o Amerika i roto i te horopaki o te pakanga hokohoko.

Tuawhā, kua ngaro katoa ngā taputapu whiriwhiri a te Hononga o Amerika i roto i ngā whiriwhiringa me Haina, ā, kua piki haere te koretake. Mai i te urunga atu o Haina ki te WTO i te tau 2001, he maha ngā wā kua whakamahia e te Hononga o Amerika te mea e kiia nei ko te kore taurite i roto i te hokohoko Sino-US hei whakamahi i ngā whiu ki a Haina, me te akiaki i a Haina ki te whakaae me te tuku whakaaetanga i roto i ngā wāhanga maha, pērā i te tono kia piki ake te RMB me te tono ki a Haina kia āwhina i te Hononga o Amerika ki te whakakore i te raruraru pūtea. Heoi, i mua, he nui te haruru o ngā whiu a te US engari kāore i whai hua, ā, he iti noa ngā whiu tuturu, ā, he nui ngā painga i riro i te Hononga o Amerika mai i Haina. Heoi, i te tau 2018, i haehae katoa te whakahaere a Trump i te rau piki o te kāwanatanga o Amerika, ā, i tangohia e rātou ngā mahi pēhanga hokohoko tino nui ki a Haina, me te ngana ki te aukati i te whanaketanga o te ahumahi o Haina mā te hokohoko. Whai muri i te pakanga hokohoko, i whakarewahia e te whakahaere a Trump me tōna uri, te whakahaere a Biden, he pakanga hangarau me te pakanga pūtea ki a Haina, ā, i whaia, i āraihia hoki ngā kamupene hangarau Hainamana huri noa i te ao. Tae noa ki tēnei wā, ka taea te kī he koretake te rautaki aukati i whakamahia e te Hononga o Amerika ki a Haina, ā, kua oti kē ngā mahi tino pai. Kāore he huarahi whiriwhiri e toe ana. I te mutunga, ko ngā mahi whakaeke me ngā mahi kino anake ka taea e te Hononga o Amerika te mahi ki a Haina ko te whakakino i ngā whakaaro o te marea me te whakakino i a rātou, engari ka whakatauhia hoki ēnei e te kaupapa here kore-whai-uru a Haina. Ināianei, i muri i te neke atu i te whitu tau o ngā pakanga hokohoko, ngā pakanga hangarau, ngā pakanga pūtea, me ngā pakanga whakaaro o te marea, kua kitea ohoreretia e te kāwanatanga o Amerika kua neke atu i te mahi matatau ki te mahi mangere i te wā e anga atu ana ki a Haina.

He pēhea te pānga o te pakanga hangarau ki te Hononga o Amerika?

I te tau 2018, whai muri i te whakarewatanga o te pakanga hokohoko a te kāwanatanga o Amerika ki a Haina, ka whakarewa tonutia e rātou he pakanga hangarau, ā, ka mahi tahi me ōna hoa tautoko ki te aukati i ngā kamupene hangarau Hainamana o te ao. Neke atu i te ono tau te roa o te pakanga hangarau i whakarewahia e te Hononga o Amerika ki a Haina, ā, kei te piki haere tonu, engari kāore te tere o te whanaketanga hangarau o Haina i mutu, engari kei te tere haere tonu. I tetahi atu taha, kua tino pāngia te whanaketanga o te hangarau o te Hononga o Amerika.

Tuatahi, kua ngoikore te painga hangarau o te Hononga o Amerika. Nā ngā aukati a te Hononga o Amerika ki a Haina, kāore e taea e ngā whenua e rua te whakawhitiwhiti kōrero i roto i te pūtaiao me te hangarau. I tētahi taha, kua whakaohokia e ia te pūmanawa mō te auahatanga me te mahi kaipakihi a te kāwanatanga me ngā umanga Haina, ā, kua puta he whanaketanga nui i roto i te auahatanga hangarau a Haina i ngā āhuatanga katoa. I tētahi atu taha, kei te ngaro te Hononga o Amerika i te aroaro o te tere o te ahunga whakamua hangarau a Haina. 20 tau ki muri, tata ki te katoa o ngā painga hangarau a te Hononga o Amerika i a Haina, engari i tēnei rā, kua tere te hopu a Haina, ā, kua hipa ake i a Amerika i te nuinga o ngā mara o te auahatanga hangarau. I tēnei rā, haunga ētahi mara iti o te taumata teitei, kei te mau tonu ngā painga o te Hononga o Amerika, ā, tata ki ngā āhuatanga katoa e herea ana e te hangarau Hainamana. Ehara i te mea ko te Hononga o Amerika anake kāore e taea te whakarite ki a Haina i roto i ngā mara pēnei i te tereina tere, te hanga kaipuke, te hiko, me ngā waka hiko hou, engari ko te mara rererangi, te mea tino whakahīhī o te Hononga o Amerika i te ao, kua hinga i a Haina. I te ao maramara, ko te United States tonu te kaiārahi, engari ko ētahi maramara utu nui kei a rātou tonu te painga, ko ētahi atu ahumahi me ngā mākete maramara waenga-me-iti kei te tata tonu te mana whakahaere a Haina. Tae atu ki a Boston Dynamics, kua roa nei e whakawhanake ana i ngā kurī karetao, kua hinga tonutia e Yushu Technology o Haina. Kei te uru atu a Haina me te United States ki tētahi whakataetae i roto i te ao o te matauranga horihori, engari nā te putanga mai o DeepSeek, kei te whanake haere te āhuatanga ki tētahi huarahi e pai ake ana ki a Haina.

Tuarua, kei te kitea haere te ngaronga o ngā pūkenga pūtaiao me ngā pūkenga hangarau i roto i te Hononga o Amerika. E mōhio ana tātou katoa, ko te hua o te whai rawa o te Hononga o Amerika nā te mea kua noho te Hononga o Amerika hei wāhi whakaranu o ngā pūkenga o te ao i roto i ngā tau 100 kua pahure ake nei. Kua heke mai ngā pūkenga mai i te ao katoa ki te Hononga o Amerika, ā, he nui ā rātou takoha ki te whanaketanga o te pūtaiao me te hangarau o Amerika. I roto i a rātou, ko ngā ākonga Hainamana, ngā kaipūtaiao Hainamana-Amerika, me ngā kairangahau hangarau Hainamana-Amerika te hunga i tino pai te mahi, ā, ko rātou te kaiārahi o te ope pūtaiao me te hangarau o Amerika. Heoi, i ngā tau tata nei, kua piki haere te pakanga tōrangapū i roto i te Hononga o Amerika, kua tino pakaru te hapori, ā, kua kaha ake ngā pakanga iwi. Ina koa, ko ngā tāngata nō Haina, tae atu ki ngā ākonga Hainamana, ngā kairangahau Hainamana me Haina-Amerika, kua piki haere te whakahāwea i roto i te Hononga o Amerika. Heoi anō, hei tapahi i ngā huarahi whakawhitiwhiti pūtaiao me te hangarau i waenga i a Haina me te Hononga o Amerika, kāore i te whakawhāiti noa ngā kaitōrangapū o Amerika i te kaweake i te hangarau o Amerika ki Haina, engari i whakawhāiti hoki i te whakawhitiwhiti pūkenga i waenga i a Haina me te Hononga o Amerika. Kua pehia, kua tukinotia hoki e te kāwanatanga o Amerika ngā ākonga Hainamana, ngā kaipūtaiao Hainamana me ngā kaihangarau Hainamana-Amerika me ngā uri Hainamana-Amerika, ehara i te mea ko te aukati i ā rātou huarahi whakatairanga me te aukati i a rātou ki te pupuri i ngā tūranga nui i roto i te kāwanatanga me ngā umanga o Amerika, engari ko te whakawhāiti hoki i tā rātou ako me te whānuitanga mahi i roto i te Hononga o Amerika. Ko ētahi o ngā tohunga pūtaiao me te miihini e aukati ana i ngā ākonga Hainamana ki te ako, ā, he maha ngā tūranga rangahau pūtaiao me ngā tūranga hangarau nui kāore e tuwhera ana ki ngā ākonga Hainamana me ngā Hainamana-Amerika. Kei te piki haere te raruraru o ngā ākonga Hainamana me ngā Hainamana-Amerika i roto i ā rātou ako, mahi me te oranga i roto i te Hononga o Amerika. I ngā tau tata nei, kua piki haere te tokomaha o ngā ākonga Hainamana me ngā kaipūtaiao me ngā kaimahi hangarau Hainamana me ngā Hainamana-Amerika kua whiriwhiri ki te wehe atu i te Hononga o Amerika me te haere ki ngā wāhi katoa o te ao. I roto i a rātou, kua whiriwhiri ētahi kaipūtaiao ki te hoki ki Haina ki te mahi ki tō rātou whenua tupu. Hei tauira, i kī a Ahorangi Yin Zhiyao, te heamana me te perehitini o Shanghai Advanced Micro-Semiconductor Equipment Co., Ltd., i hoki ki Haina i te tau 2004 ki te tīmata i tētahi pakihi, i roto i ngā tau 40 kua pahure ake nei, kua whakawhanakehia e te Hononga o Amerika te iti rawa 10 ngā momo taputapu semiconductor matatau o te ao, 70% ki te 80% o ēnei i whakawhanakehia e ngā ākonga Hainamana, ā, 80% ki te 90% o ēnei taranata kua hoki ki Haina, ā, he mahi nui tā rātou i roto i ngā momo mara. Ko te tirohanga poto ki te reparo katoa, ko te tauira i whakahuatia e te Heamana Yin Zhiyao e whakaata ana i te āhua o te ngaronga o ngā taranata i te Hononga o Amerika. E ai ki ngā raraunga mai i Te Whare Wānanga o Stanford i te Hononga o Amerika, kua piki haere tonu te maha o ngā kaipūtaiao Hainamana e wehe atu ana i te Hononga o Amerika mai i te 900 ki te 2,621 i waenga i te tau 2010 me te 2021. E whakaatu ana tētahi rangahau a ngā pāpāho o Amerika i roto i te neke atu i te 1,300 ngā kaipūtaiao Hainamana, 61% o rātou e hiahia tonu ana ki te wehe atu i te Hononga o Amerika. E whakaatu ana ngā raraunga ahakoa ko te Hononga o Amerika tonu te whenua kei a ia te tokomaha nui rawa atu o ngā kaipūtaiao matua o te ao, kei te kino haere tonu tōna tokomaha, ā, kei te hopukina e te tokomaha o ngā kaipūtaiao matua o te ao kei raro i te mana o Haina te Hononga o Amerika.

Tuatoru, he tino herea te umanga hangarau o Amerika e te kāwanatanga o Amerika. I mua i te whakarewatanga o te pakanga hangarau a Amerika ki a Haina, i tino mārama te wehenga mahi i waenga i a Haina me Amerika i roto i te mara maramara, arā, ko Amerika te kawenga mō te hoahoa me te hanga hua maramara, ā, ko Haina te mākete kaihoko nui rawa atu o te ao mō te umanga maramara o Amerika. Heoi, nā te pakanga hangarau i whakarewahia e Amerika ki a Haina i pakaru tēnei tauira. Hei aukati i te whanaketanga o te umanga maramara o Haina, i tangohia e Amerika ngā mahi pēnei i te hanga i tētahi marae iti me ngā taiepa teitei me te aukati i te kaweake o ngā maramara kounga teitei ki Haina. Nā tēnei nekehanga, ehara i te mea i akiaki noa a Haina ki te mahi kaha, ki te whakawhirinaki ki a ia anō, me te whai mana ki a ia anō i roto i te mara maramara, engari i wehe katoa hoki i te mākete kaihoko nui o Haina mai i te umanga maramara o Amerika, ka waiho ngā kamupene maramara o Amerika me te kore noa iho he mea engari ko te aue ki te mākete kaihoko o Haina. Ahakoa he maramara matatau ā ngā kamupene maramara o Amerika kei mua i te hangarau o Haina, nā te kore o ngā kaihoko i roto i te mākete Haina, kua ngaro te hua o ngā maramara matatau o te United States, ā, ka taea anake te noho hei whakapaipai. Mai i te whakarewatanga o te pakanga hangarau a te Hononga o Amerika ki a Haina, kāore i te pāngia te umanga hangarau o Haina, e tohuhia ana e te umanga maramara, engari kua kaha haere, kua kaha haere. Ko ngā maramara i hangaia e Haina i ngā taumata katoa, tae atu ki te reo waenga, te teitei me te iti, kāore i te tino tutuki i te tono mākete o roto, engari kua kite hoki i te pikinga nui o ngā kaweake ā-tau. I te tau 2024, neke atu i te kotahi tiriona yuan ngā kaweake maramara a Haina, he mea miharo ki te ao. Engari, kua tino heke ngā hua o te umanga maramara me te maha o ngā kaihanga maramara i te Hononga o Amerika, kua pāngia e ngā mate nui, ā, kāore i te kaha te whanaketanga. E whakaatu ana ngā raraunga ko Intel, he kamupene maramara rongonui i te Hononga o Amerika, he moni whiwhi ā-tau US$54.228 piriona i te tau 2023, he hekenga ā-tau o te 14.00%, me te hua kupenga o te US$1.689 piriona, he hekenga ā-tau o te 78.92%. I te hauwhā tuarua o te tau 2024, ko te moni whiwhi a Intel he US$12.833 piriona, he hekenga tau-ki-te-tau o te 0.90%; ko tana mate kupenga he US$1.610 piriona, he rerekē rawa atu ki tana hua o te US$1.5 piriona i te wā kotahi o te tau 2023. I te hauwhā tuatoru o te tau 2024, ko te moni whiwhi a Intel he US$13.284 piriona, he hekenga tau-ki-te-tau o te 6.17%; ko tana mate kupenga he US$16.639 piriona, he hekenga tau-ki-te-tau o te 5702.36%. Hei tauira anō, ko Qualcomm, tētahi atu kaihanga maramara i te Hononga o Amerika, i ngaro te mākete Haina i te tīmatanga o te tau 2023 nā te whānui haere o ngā here kaweake maramara a te Hononga o Amerika, ā, ko Haina te pūtake o te neke atu i te 60% o ana moni whiwhi. Ko te moni whiwhi kupenga a Qualcomm i te hauwhā tuarua o te tau 2023 i heke iho i te 52% tau-ki-te-tau, ka whakatakoto i te iti rawa o te hītori i ngā tau tata nei. He rite tonu a Intel me Qualcomm ki tēnei, ā, kāore a Nvidia me AMD i te rerekē. He rite tonu rāua ki te ao iti o te umanga maramara katoa o Amerika i tēnei wā. Nā te pakanga hangarau i whakarewahia e te kāwanatanga o Amerika i ngaro ai i a rāua te mākete Haina, ā, nā reira i ngaro ai tō rāua pūtake hua me te hihiri mō te whanaketanga tonu. He iti noa iho te kino ki a Haina nā te pakanga hangarau i whakarewahia e te Hononga o Amerika ki a Haina, engari ko te mamae i pā ki ngā kamupene hangarau o Amerika e kitea ana e te kanohi tahanga.

He pēhea te pānga o te pakanga pūtea ki te Hononga o Amerika?

I roto i te rautaki aukati a te Hononga o Amerika ki a Haina, he patu whakaeke kino rawa atu te whakarewatanga o te pakanga pūtea. Kei te whakaaro te Hononga o Amerika ki te whakarewa i te pakanga pūtea ki a Haina, ki te whakapahū i ngā whenua Hainamana, ki te whakapoto i te RMB, me te pehi i te mākete hea Haina, kia tutuki ai te whāinga ki te aukati i te whanaketanga ōhanga o Haina me te hauhake i ngā rawa Haina.

Mai i te mea kua āta whakahaerehia te tukanga whakatuwheratanga o te pūkete whakapaipai RMB e te kāwanatanga Haina, ā, kua hangaia e te kāwanatanga Haina he parepare pūtea kaha, ka taea te kī he pakari te mākete pūtea o Haina. I runga i tēnei papamuri, he iti noa te whai huatanga o te whakaeke pūtea a te Hononga o Amerika ki Haina, ā, ahakoa i roto i ngā huarahi maha he tino rerekē ki tā te Hononga o Amerika i tumanako ai. Ka taea te kī kua kopere te Hononga o Amerika i a ia anō ki te waewae.

I te wā e puāwai ana te mākete hoko whenua i Haina, i kite te iwi kei te piki haere tonu te pupuri a te Hononga o Amerika i ana here o tāwāhi o ngā kamupene hoko whenua Haina mā roto i ngā umanga pūtea o te ao e kiia nei ko ngā umanga pūtea o te ao i raro i tana mana, me te ngana ki te keri poka me te hanga mahanga nama mō ngā kamupene hoko whenua Haina. Heoi, kua matapae kē te kāwanatanga o Haina i te mākete hoko whenua o roto, ā, kua tangohia e rātou he raupapa o ngā mahi ture ā-hurihuri i te tihi o te puāwaitanga o te mākete hoko whenua. I roto i ēnei, ko ētahi kamupene hoko whenua nui o roto i aukatihia mai i te whakawhānui matapo ki tāwāhi mā roto i te nama me ētahi atu huarahi, kia kore ai e hinga te mākete hoko whenua Haina nā ngā mahanga nama o tāwāhi. Hei tauira, hei whakapoto i te mākete hea Haina, i tetahi taha, i whakamahia e te Hononga o Amerika ngā rangahau koretake mō ngā hea ariā Haina, ā, i tukuna he pūrongo kino hei pehi i ngā kamupene Haina kua rārangihia ki te Hononga o Amerika, kia tōia ai te mākete hea-A. I tetahi atu taha, ko te Hononga o Amerika, mā roto i ētahi tari whakatauranga o te ao e whakahaerehia ana e te Hononga o Amerika, i tukuna he raupapa o ngā pūrongo teka kino e heke ana ki te ōhanga Haina, ngā kamupene Haina me te mākete hea, e ngana ana ki te whakapohehe i ngā kaipupuri moni o te ao kia wehe atu i te mākete hea Haina. Heoi, nā te mahi whakamiharo a te ōhanga Haina, koinei anake te ōhanga o te ao, i pakaru te mahere a te US ki te whakapoto i te mākete hea-A. I taua wā anō, he nui te mākete hea-A, ā, he maha ngā kaipupuri moni. Hei tāpiri, e mōhiotia whānuitia ana ngā whakaaro o Sima Zhao o te US e te katoa. Nō reira, kāore i angitu te ngana a te US ki te whakapoto i te mākete hea-A. Kei te whakahaerehia tonutia te mākete hea-A o Haina i roto i te tikanga tika me te motuhake e ai ki tōna ake auau me te huarahi.

Ko te wawata matua o te Hononga o Amerika i tana whakarewatanga i tētahi pakanga pūtea ki a Haina, ko te pehi i te utu whakawhiti RMB mā te tāra kaha, kia mimiti ai ngā moni Haina, kia kohia ai ngā rawa Haina. E whakapono ana te Hononga o Amerika, mēnā ka whakapiki ake i ngā reiti huamoni, ka waihanga i tētahi taikaha tāra, ka taea e ia te rere mai o ngā whakapaipai mai i te ao katoa, tae atu ki a Haina, ki te Hononga o Amerika. Nō reira, mai i te marama o Poutū-te-rangi 2022, kua tīmata te Hononga o Amerika i tētahi wāhanga hou o ngā pikinga reiti huamoni. Ahakoa i puta te hekenga o te RMB i ngā pikinga reiti huamoni tuatahi, kāore i pā ki te rere o ngā whakapaipai Haina. Nō reira, i piki ake te reiti huamoni e te Federal Reserve, ā, i taea ai e te Hononga o Amerika te pupuri i te reiti huamoni tata ki te 6% mō ngā tau e rua, ka hanga he taumata teitei hou i roto i te hītori o ngā pikinga reiti huamoni a te Federal Reserve. Ahakoa i neke atu i te 17% te hekenga o te utu whakawhiti RMB i raro i te awe o te pikinga nui o ngā reiti huamoni a te Federal Reserve me te kaha o te tāra, ko te mea kāore i whakaarohia e te Hononga o Amerika, i te whakataurite ki ētahi atu moni o te ao, ko te reiti whakawhiti RMB tonu te tino rangatira pumau. Ko te mea tino pouri ki te Hononga o Amerika ko te korenga o te whakapaipai Hainamana e rere ki te Hononga o Amerika, engari kua kukume mai i ngā moni o te ao ki te uru mai. I ngā tau tata nei, ko Haina tētahi o ngā whenua e kukume ana i te nuinga o te haumi whakapaipai o tāwāhi. Ko te mākete nui o Haina, te āhua tōrangapū pumau, te whanaketanga tere, te pūmanawa nui, me te taiao pakihi kua pai ake te whakapai ake, kua pai ake te kukume i a Haina ki te whakapaipai o te ao. I runga i tēnei papamuri, ehara i te mea kāore a Haina i whai i te Hononga o Amerika i te whakapiki i ngā reiti huamoni, engari i whakaheke i ngā reiti huamoni i te huarahi ke atu i te Hononga o Amerika. Ko te huringa ōhanga o Haina, te kaupapa here moni a Haina, me ngā rerenga whakapaipai o Haina kāore i pāngia e ngā pikinga nui o ngā reiti huamoni me ngā kaupapa here tāra kaha a te Hononga o Amerika.

I ēnei rā, kāore e taea te pupuri i te tāra kaha. I te tau 2024, kua kore e pai te mahi a te Hononga o Amerika ki te whakaiti i ngā reiti huamoni, ā, ka noho pōrearea te Hononga o Amerika. Mēnā ka mutu te whakahekenga o te Hononga o Amerika i ngā reiti huamoni, ā, ka mau tonu ngā reiti huamoni teitei, ka uaua te pikaunga o te reiti huamoni ki ngā kamupene o Amerika me te kāwanatanga o Amerika. Hei tauira, ko te kāwanatanga o Amerika. Ko te nama a te kāwanatanga o Amerika i tēnei wā e eke ana ki te 35 tiriona tāra US. I te taumata reiti huamoni o nāianei, me whakapau e te kāwanatanga o Amerika ki te 2 tiriona tāra US mō te huamoni nama i ia tau, engari ko te moni whiwhi ā-tau a te kāwanatanga o Amerika he 4 tiriona tāra US anake. Kua waiho kē ngā whakapaunga huamoni nui hei kawenga e kore e taea te pehi mō te kāwanatanga o Amerika me ngā kamupene o Amerika, nō reira, he mahi kore āwhina te whakahekenga i ngā reiti huamoni mā te Federal Reserve. Heoi, ki te whakaheke tonu te Fed i ngā reiti huamoni, ka ngaro te tūranga o te tāra kaha, ā, ka rere mai te pūtea o te ao i te Hononga o Amerika i roto i te tini, ka pakaru te ōhanga o Amerika. Kia pakū te mirumiru tāra, tērā pea e kore rawa te mana whakahaere o te tāra e ara ake anō, ā, ka uaua ki te whakatutuki i te ngana a te Hononga o Amerika ki te hauhake i te ao mā te waihanga i tētahi tai tāra.

Ka taea te kī he nui, he whānui hoki te pānga kino o te pakanga pūtea i whakarewaina e te Hononga o Amerika ki a Haina ki te Hononga o Amerika, ā, ka kitea nuitia te pānga kino ki te Hononga o Amerika i te hekenga o te ōhanga o Amerika.