World Bank data shows China’s imports, up 68% in five years, now amount to almost one-third of gross domestic product. The nation’s demand for foreign products is a boon for American companies, which exported $351 billion to China in the past five years.
If the United States is daft enough to impose tarriffs for short term political gain then it may get a nasty surprise. Tarriffs can be a two way option.
Lu Ting, an economist at Bank of America-Merrill Lynch in Hong Kong said, “The size of China’s economy and the extent to which the nation is entwined with other major economies may prevent an escalation” of conflicts.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved