Reuters
Business Insider: Trump's latest tariffs could drag China's growth to its lowest level in almost 30 years — but there's still 'no chance' it will cave to US demands
* China has consistently grown by more than 6% for almost 30 years, but Trump's latest tariffs could break that trend.
* The duties could slow growth by up to 0.5 percentage points this year, according to a Bloomberg survey of 14 economists.
* Tariffs "pose some challenges to China's exports and economy," the country's foreign ministry has said.
* However, economists argue "there's no chance that President Xi will agree to US demands."
The Trump administration's tariffs on China could drop the Asian superpower's economic growth to its lowest level in nearly 30 years.
The upcoming duties on $300 billion worth of Chinese goods could reduce growth by up to 0.5 percentage points this year, according to a Bloomberg survey of 14 economists. The lower bound of the Chinese government's annual growth target is 6%, and a Reuters poll in July forecast growth of 6.2% this year.
Some of the new tariffs are scheduled to take effect at the start of next month, while the rest are set to go live in mid-December.
Read more ....
WNU Editor: China has a lot of internal structural and debt problems that are going to lower its growth in the coming years. It has also lost its attraction as a place for foreign investment to go to. And while its competitors like India and Vietnam still have a long way to go before reaching the level of China when it comes to providing goods in the global supply chain, the trend lines are clear.
0 Response to "Is President Trump's Tariff War Dragging Down China's Growth?"
Post a Comment