There is a lot going on in China because of the US trade war right now. So this post isn't going to be all-encompassing. But the long and short of it is that China has decided to go all-in in its trade war with the US. And that means it has also been forced to add stimulus to its domestic economy to prevent economic growth from flagging.
The commerce ministry has said China would impose tariffs on $60 billion worth of US goods. Here's the Wall Street Journal on the news:
In a statement issued late Friday, China’s cabinet said the government is preparing to impose duties at levels of 25%, 20%, 10% and 5% on some 5,207 American goods.
“The implementation date of the taxation measures will be subject to the actions of the U.S., and China reserves the right to continue to...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.