0 Members and 1 Guest are viewing this topic.
New US Tariffs Spell Doomsday for China’s EconomyEpoch Times ContributorAn economist foresees the meltdown of China’s economy as a result of U.S. tariff increasesEditor’s Note: This is an abridged translation of an article by Wang Shangyi, which was originally published in SecretChina on May 27.The additional 25 percent tariff imposed by the United States on $200 billion worth of Chinese goods will trigger a new round of factory closures in China, driving economic collapse.After more factories close, foreign exchange earnings will decrease, prompting Chinese officials to reduce foreign exchange purchases and implement more stringent foreign exchange controls. In addition, the domestic financial system will take a hit, which will further escalate economic and financial collapse.Factory Closures and RelocationsThe 25 percent tax rate will reduce Chinese exports in two ways. Firstly, it directly halts the export of a considerable amount of products, and factories will rapidly transfer orders and production capacity outside of China. In the short term (within one year), this will exceed $50 billion, or even up to $100 billion. In the medium term (within two years), the majority of production could be transferred abroad.Read more at: https://www.theepochtimes.com/new-us-tariffs-spell-doomsday-for-chinas-economy_2949046.html
I could give a rats ass about what tariffs do to China's economy. What matters is that they hurt the US economy.
You should care a little bit what they do to the Chinese economy. The last time we brought an Asian country to the brink of economic ruin, it brought us into WWII.
Some here seem to be cheering that on.
Sometimes it's worth it to take a few bruises if you know you'll win the fight. This is a dick measuring contest that China cannot win. They have more to lose in every way. There won't be a war and at some point China will capitulate to us.
