First published: The Wire China, 10 November 2024
The re-election of Donald Trump, along with the red wave that swept through the U.S., is likely to have significant repercussions for China at a sensitive time, and with no end in sight. The Trump campaign advocated for 60 per cent tariffs on Chinese goods entering the United States, and for removal of China’s Most-Favored-Nation trade status, none of which feels like it was pure rhetoric.
Donald Trump delivers remarks during a rally in Georgia on tariffs and China, September 24, 2024. Credit: C-SPAN
New trade friction will go down like a lead balloon in Beijing, where the government, spooked by the faltering economy, is trying keenly to stabilize it. This was evidenced again last Friday, when the finance minister Lan Fo’an announced a 6 trillion yuan ($839 billion), 3-year refinancing programme for some local government debt, and an option….Read on….https://www.thewirechina.com/2024/11/10/chinas-struggle-for-stability-chinese-economy/
