Summary
Singapore-based economist Jayant Menon says, “China’s trade policy has become reactionary to the US.” It operates on vengeance. It is also limiting imports from countries which it believes to be working under US influence.
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According to the report, the economic growth rate was also affected due to this trade war between China and America. Singapore-based economist Jayant Menon says, “China’s trade policy has become reactionary to the US.” It operates on vengeance. It is also limiting imports from countries which it believes to be working under US influence. From 2020, it limited the import of coal, sugar, barley, wine, wood etc. from Australia, while Japan complained against it to the World Trade Organization for imposing dumping duty on steel imports.
But China is strong in exports
China may have imported from America, Australia, Japan etc., but strengthening exports took it to $ 64,870 million in 2020. At the same time, exports were also increased through Regional Comprehensive Economic Partnership.
Depends on America for Innovation
According to Alan Chong, another Singapore-based economics expert, China wants to build a new global business model by intensifying the trade war, but is dependent on the US for innovation. Especially in the IT sector, it is emphasizing production rather than innovation itself.
Expansion
According to the report, the economic growth rate was also affected due to this trade war between China and America. Singapore-based economist Jayant Menon says, “China’s trade policy has become reactionary to the US.” It operates on vengeance. It is also limiting imports from countries which it believes to be working under US influence. From 2020, it limited the import of coal, sugar, barley, wine, wood etc. from Australia, while Japan complained against it to the World Trade Organization for imposing dumping duty on steel imports.
But China is strong in exports
China may have imported from America, Australia, Japan etc., but strengthening exports took it to $ 64,870 million in 2020. At the same time, exports were also increased through Regional Comprehensive Economic Partnership.
Depends on America for Innovation
According to Alan Chong, another Singapore-based economics expert, China wants to build a new global business model by intensifying the trade war, but is dependent on the US for innovation. Especially in the IT sector, it is emphasizing production rather than innovation itself.