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For scale: The net exports (Chines exports less imports from the U.S.) of China to the US are less than 3% of Chinas GDP. China will certainly notice that, but
by bildung 9y ago
For scale: The net exports (Chines exports less imports from the U.S.) of China to the US are less than 3% of Chinas GDP.
China will certainly notice that, but in the long run the U.S. will certainly lose more from that decision: The heavily (illegaly?) subsidized U.S. agriculture will get a hard hit, as will every industry that relies on Chinese components, from smartphones to cars. It will be a boon for the other continents, though, as their companies will gain market share, because the U.S. products will have to be sold at higher prices.
- samfisher83 9y agoI don't think trade wars really help any one,but China has some very restrictive import laws. Why can't they be more open as well?
- bildung 9y agoNet exports of China are only 4% of GDP (e.g. they import about as much as they export). Can you be more specific regarding those import laws?
- samfisher83 9y agoChina import tax on cars is 25%. If you are a company that wants to open a business there you have to do a JV with a local firm. There is a 12% tax on clothes etc.