Title: Benefits of the US-China Trade War — Valdai Club
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Content: The “benefits” of this trade war, in particular, lie in rendering the Chinese better aware of their country’s development status quo and its role on the world stage. On the one hand, please don’t have any illusions that China will recoil in this trade war. “ Fighting to the end” is probably most Chinese unswerving attitude. Objectively speaking, China’s total economic volume is 82 trillion RMB and the foreign trade just accounts for about one-tenth. For the 8 trillion foreign trade, Sino-US trade only accounts for about one-third. 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.