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China Facts: Trade war with China

 

 

Trade fuels less of China's growth than it used to. Exports to America were the equivalent of nearly 10% of Chinese GDP before the global financial crisis of 2008. Today they are just 4%. Moody's credit rating agency, estimated that Mr. Trump's initial set of tariffs, valued at $50bn, would shave only 0.14 percentage points from China's growth rate - a rounding error for an economy that is expected to grow by about 6.5% this year. Lately it has become more clear that America's goal is not to shrink its trade deficit but to impede China's progress.

 

*) The Economist 26th May 2018

 

 

 

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