China is running out of options to hit back at the United States without hurting its own interests, as Washington intensifies pressure on Beijing to correct trade imbalances in a challenge to China’s state-led economic model.
China said this week it would impose higher tariffs on most U.S. imports on a revised $60 billion target list. That’s a much shorter list compared with the $200 billion of Chinese products on which Washington has hiked tariffs.
Washington has also turned up the heat on other fronts, from targeting China’s tech firms such as
Huawei and ZTE to sending warships through the strategic Taiwan Strait.
[…]
“The medium- to long-term ramifications on supply chains are being deeply underestimated. I would be severely concerned if I was China,” Robert Lawrence, a nonresident senior fellow at the Peterson Institute for International Economics, recently told journalists in Beijing, where a group from the think-tank met with senior Chinese officials.
Meanwhile in Chinada: Potatus minor* and the Red Dwarf will “not be rushed”…
* Better
