日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

USEUROPEAFRICAASIA 中文雙語Fran?ais
China
Home / China / View

China could withstand a trade war

By Ed Zhang | China Daily Europe | Updated: 2017-01-29 09:18

Nation has the resources to survive Trump's threatened onslaught and create prosperity internally

In the Chinese press, offline and online, business commentators are nowadays all talking about the same thing: the coming trade war with the United States.

But whether there will be a full-scale trade war is up to Donald Trump, because that's what he said he wanted. What the Chinese should do is not just talk, explaining that trade war isn't a good thing. They can do many things, starting right now, to make the economy less vulnerable to outside influences and stronger against imminent trade war attacks.

No matter on how many fronts and how seemingly powerful the trade war is, it comes from the outside after all. How much resistance an economy can mobilize depends primarily on internal factors.

Having long foreseen the unsustainability of its export-driven growth since the 1990s, China has, beginning almost 10 years ago, been gradually reducing its dependence on foreign trade.

Not only has the total volume of its exports been in decline, the ratio between export and total GDP fell from 37 percent 10 years ago to around 20 percent, according to the World Bank. Although it is higher than the US level, it is lower than that of many trading nations in Asia and Europe.

Admittedly, in volume, the figure for China's export of goods to the US is still much larger than that for imports, registered as $482 billion versus $116 billion by the Office of the US Trade Representative. But a large proportion of it was made-for-US consumer brands.

Should US businesses discard the production they have partnered with in China and ship the $300 billion-plus-worth of business entirely home, that would be more than 2 trillion yuan ($308.6 billion; 208.6 billion euros; 184.9 billion), as compared with China's total GDP of some 74 trillion yuan in 2016, or less than 3 percent of the latter.

It may not be extremely hard for China to redirect that amount of productivity to other markets, domestic and foreign. At least mathematically, Chinese society has become different from the way it was 20 years ago. A rise in the general income level in coastal cities should have created enough middle class consumers who want to spend more, evidence of which is also seen in data for the spending of Chinese tourists abroad.

With smart management, China may better utilize that new potential of its society, to provide its middle class consumers with goods of better quality and better services.

One handy example is the rapid expansion of the high-speed rail network.

At the beginning of the rail modernization program, many people doubted its commercial viability. In fact, many of the long, hugely expensive railways cannot be expected to generate a profit in a just two to three years.

But the nation's consumer behavior has changed quickly, with an increasing number of people willing to travel for holidays and weekends on the speedy and decent train rides to cities other than their home towns.

In 2015, by serving 4 billion visitors, the nation generated 4 trillion yuan in tourist revenue, a much larger amount than its merchandise trade surplus with the US.

In 2017, some major high-speed railways were completed to link the more developed coastal cities with the scenic towns in the mountainous West China. With good security protection and more entrepreneurial initiatives, China's "high-speed rail economy" alone can generate enough to compare with the GDP of a medium-sized nation.

So in the face of Trump's statements, the best defense China can have is to never get distracted by his attacks and deceits and be steadfast in pursuing its own economic reform. This is the most effective way China can win the future trade war.

The government should do a better job not only in investing in large infrastructure, but also in protecting small enterprises and private initiatives - with good laws and policy terms. It should start acting now.

The author is editor-at-large of China Daily.

Editor's picks
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 日本免费观看网站 | 久久九 | 日韩精品欧美一区二区三区 | 色综合视频在线观看 | 91综合视频 | 亚洲精品久久久久久蜜臀 | av一级毛片 | 极品逼| 日韩精品一区二区在线观看 | 欧美啊啊啊 | 亚洲国产片高清在线观看 | 狠狠操在线观看 | 日韩精品一区二区三区 | 免费乱理伦片在线观看八戒 | 国产精品久久久久久久久久久搜索 | 黄色电影在线免费观看 | 欧美一级视 | 色爱综合区五月小说 | 国产精品亚洲精品日韩已方 | 午夜在线免费观看 | 亚洲精品国精品久久99热 | 国产成年网站v片在线观看 中文字幕在线免费视频 | 免费日韩视频 | 中文字幕 欧美 日韩 | 免费a视频在线观看 | 老司机免费福利视频无毒午夜 | 欧美一区二区三区在线观看视频 | 一级片免费在线观看 | 一级片一级片一级片一级片 | 日韩不卡高清 | 色狠狠色狠狠综合一区 | 成人免费大片黄在线播放 | 成人免费毛片aaaaaa片 | 国产成人精品一区二区三区四区 | 夜夜撸.com| 一本一道久久a久久精品蜜桃 | 日韩女同一区二区三区 | 91免费网 | 久久久久女人精品毛片 | 狠狠撸电影院 | 亚洲国产系列久久精品99人人 |