What's happened
As President-elect Trump prepares to impose tariffs of up to 60% on Chinese imports, experts warn of significant impacts on China's economy. The country faces challenges from a property slump and rising debt, while the U.S. seeks to leverage its position in trade negotiations.
Why it matters
What the papers say
According to the New York Times, Trump's proposed tariffs of 60% on Chinese goods could significantly impact China's export-driven economy, which is already facing challenges such as a property slump and rising debt. Eswar Prasad, a trade policy expert, noted that while China is not on the ropes, it is struggling. In contrast, the South China Morning Post highlights that despite potential short-term growth slowdowns, China is expected to achieve its annual growth target of around 5% through expansionary policies. BBC News emphasizes that Trump's return to power could hinder Xi Jinping's technological ambitions, further straining U.S.-China relations. This divergence in perspectives illustrates the complexity of the situation, with some analysts suggesting that China has more leverage now than during previous tariff escalations.
How we got here
Trump's election victory has reignited fears of a trade war with China, reminiscent of his first term. The Chinese economy is already struggling with low growth and high debt, making it vulnerable to new tariffs.
Common question
-
What are the global implications of Trump's re-election?
Donald Trump's recent re-election has sparked a wave of discussions about its potential impact on global politics, particularly concerning NATO, Ukraine, and U.S.-China relations. As analysts weigh in on the ramifications, many are left wondering how this political shift will affect international security and trade dynamics. Below are some frequently asked questions that delve into these pressing issues.
More on these topics
-
China, officially the People's Republic of China, is a country in East Asia. It is the world's most populous country, with a population of around 1.4 billion in 2019.
-
Donald John Trump is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.
-
Chatham House, also known as the Royal Institute of International Affairs, is a non-profit, non-governmental organisation based in London. Its mission is to analyse and promote the understanding of major international issues and current affairs. It is the
-
Xi Jinping is a Chinese politician serving as the general secretary of the Communist Party of China, president of the People's Republic of China, and chairman of the Central Military Commission.