Reminding the US of the presence of US corporations, Xie mentioned about 60 per cent of the brand new shops opened by McDonald’s Corp up to now yr had been in China, whereas Shanghai is the one main metropolis on the planet with greater than 1,000 Starbucks cafes.
“The extra success tales of mutually helpful cooperation, the higher,” Xie mentioned. “China and america can obtain many nice and good issues via cooperation, and the checklist of cooperation ought to be stretched longer and longer.”
However any try and comprise or suppress China would solely “hit a wall”, Xie mentioned.
Analysts mentioned China could be able to combat again if a brand new commerce struggle had been to erupt.
“Even within the unlikely occasion that we noticed a sudden thaw in US-China ties, Beijing will proceed to prioritise self-sufficiency and financial safety,” mentioned Joe Mazur, senior analyst at Beijing-based consultancy Trivium China.
“If (tariffs) had been to occur, I feel we’d begin to see some fairly aggressive retaliation from the Chinese language aspect. The calculus right here would possible be that taking part in good actually did not get China wherever and that hanging again onerous may trigger the US to assume twice about pressuring China economically.”
Julian Evans-Pritchard, Head of China Economics at Capital Economics, wrote in a word on Thursday: “We estimate that the direct impression of even a 60 per cent US tariff on items from China could be properly beneath 1 per cent of China’s GDP.”
