Chinese Expert: No Winners in Trade War, China’s Economy to be Affected
A renowned Chinese expert, Gao Jian, has stated that the trade war initiated by the US government under the presidency of Donald Trump will have negative consequences for China’s economy. However, the expert from the Center for International Security and Strategy at Tsinghua University in Beijing believes that the impact will be limited and will not undermine the overall stability of China’s economic development.
In an interview with the Russian news agency TASS, Gao Jian explained that China has been preparing for such a development, as evident from the analysis of China’s economic policies in recent years. The country has been working on a new development model, which focuses on the domestic market and has also been actively participating in the global market.
The expert also emphasized the importance of the concept of a unified national market, which was mentioned by the Premier of the People’s Republic of China, Li Qiang, in the parliament session in March.
Gao Jian believes that China has sufficient macroeconomic instruments to effectively respond to the current situation, citing the country’s stable political system, complete production chains and a large number of scientific and technological personnel.
He also expressed optimism that Trump’s trade policies will only further highlight China’s competitive advantages, as the internal instability in the US and the deep economic crisis pose serious risks.
On April 2, US President Donald Trump announced tariffs on goods from 185 countries, territories and regions, with a base rate of 10 percent, effective from April 5, 2025. Some countries, including the UK and Turkey, will be subject to the base rate until April 9, while others, such as China, Vietnam, South Korea and Japan, will face higher tariffs from that date.