As President-elect Trump prepares to start his second term in office, China is bracing for unpredictability in its ties with the United States and renewed tensions over trade, technology and Taiwan.
Perhaps the biggest consequence for China—if Trump stays true to his campaign promises—is his threat to slap blanket 60% tariffs on all Chinese exports to the U.S.
Tariffs like that would be a blow to China's already unstable economy, which is suffering from high youth unemployment, a lengthy property slump and government debt. A 60% duty on Chinese imports could shave off 2.5 percentage points, or about half, of China's projected economic growth, according to an analysis published earlier this year by UBS.
This story is from the November 08, 2024 edition of The Statesman.
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This story is from the November 08, 2024 edition of The Statesman.
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