The trade and economic conflicts between US and#China are evolving simultaneously in five areas: tariff war, investment war, technology war, currency war, and financial war, said CF40 member Yu Yongding. 1/5 cf40.org.cn/uploads/newsle…
Recent developments in the conflicts calls attention to the irrational factors, obviously from the US side, which is more difficult for China to come up with sound policy responses. Hence, China should focus on its core economic interests rather than the #tariffwar.2/5
The 300 billion worth of Chinese goods #Trump threatens to impose 10% more #tariffs on, effective September 1, 2019, are mostly final products including mobile phones (44.6 billion USD), computers (41.1 billion USD), clothing (35.2 billion USD) and toys (25.5 billion USD). 3/5
On one hand, China must rely more on domestic market and strengthen the protection of reginal production chains, especially from a legal perspective. 4/5
On the other hand,#Chinese firms must prepare for a decoupling scenario and lay more emphasis on developing independent innovation capability. They must be able to develop key products and equipment independently – there should be no illusion on this. 5/5
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