SDRF and Shanghai Foreign Investment Association co-organized the 196th Shanghai Development Salon on May 8. Mr. Xia Chun, Chief Economist of ApaH Capital and Visiting Professor of City University of Hong Kong, gave a speech entitled "From Trade Conflict to Order Reconstruction - The Predicament of the United States and the Resilience of China" and answered questions from guests. He pointed out that globalization has entered a stagnation or even reversal, and Trump has exacerbated the trend of protectionism, but the core problem of the United States is the gap between the rich and the poor and unfair distribution rather than the trade deficit. The US manufacturing industry has not declined, but it is controlled by financial capital. The continuous expansion of US debt and the decline of the credit of the US dollar are its biggest hidden dangers. China's economic transformation, Chinese-style modernization, new quality productivity development and Belt and Road cooperation have made remarkable achievements. Next, we should further establish property protection, support small and medium-sized enterprises, and stimulate economic vitality.