Title: Benefits of the US-China Trade War — Valdai Club
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Content: The impact of this war for China’s overall national economic growth rate is about 0.2% to 0.5%. The Chinese are able to manage this zheteng, which means “much ado about nothing”. On the other hand, the Chinese are better aware that first, China’s economy is still “developing”, leaving a big gap with the international cutting-edge technology. For the core industry, there is still much to do as well. In addition, there are many tasks, including poverty alleviation, to accomplish. To tell the truth, China cannot have the slightest sense of complacency. Second, only when China remains steadfast and more determined to push forward with the reform and opening up policy, can Chinese economy stand a greater test. For example, China’s macro-taxation burden has reached a level which needs to be changed. The expansion and opening-up of the domestic market is urgently required. The reform and internationalization of China’s financial system has already become the world’s big concern.