日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Global EditionASIA 中文雙語Fran?ais
Opinion
Home / Opinion / Editorials

US economy displaying self-inflicted wounds: China Daily editorial

chinadaily.com.cn | Updated: 2019-06-12 20:10
Share
Share - WeChat
[Photo/IC]

While Larry Kudlow, director of the US National Economic Council, tried to shrug off the worse-than-expected job increase in the United States last month, the lowest since October 2016, claiming that the performance of the US economy is not contingent on the outcome of the trade frictions with China, Washington might want to consider the harm its ill-judged trade war is doing to the US.

True, it is unreasonable to place too much stock in one month's data, as Kudlow said. But just 75,000 new jobs were added in May, markedly lower than the expected 180,000, amid widespread anticipation that the Federal Reserve will cut interest rates in the near future in an attempt to fuel the US economy.

And if the US administration continues to press its trade attacks on China, last month could mark the point when the US started to lose the Chinese market, as the Association of Southeast Asian Nations replaced the US as China's second-largest trade partner after the European Union.

So far this year, China's trade with the EU and ASEAN has increased by 11.7 percent and 9.4 percent respectively, and they account for 15.7 percent and 13.5 percent of China's total foreign trade. In contrast, China's trade with the US has fallen 9.6 percent so far this year, dropping to 11.7 percent of China's trade portfolio from 15.2 percent in 2017 before the trade frictions erupted.

Over the past five months, China's exports to the US fell 3.2 percent and China's imports from the US dropped 25.7 percent. Which means China has quickly found substitutes from Europe and Latin America for high-tech and agricultural imports from the US.

Although Vietnam's exports to the US surged by about 40 percent in the first quarter, its productivity and capacity cannot be mentioned in the same breath as those of China, and it is not as easy for the US to find a stand-in for China.

It is also worth noting that about 50 percent of the enterprises that are affected by the US tariffs in China are foreign companies, among which US companies account for the lion's share.

With larger space at home and abroad and more cards in hand, China will respond firmly if the US insists on escalating trade tensions, the Foreign Ministry stated on Tuesday, after the US president said he would impose further tariffs on Chinese goods if no deal was reached during the G20 Summit in Osaka later this month.

This is not to say China has not been feeling the effects of Washington's trade bullying. But Washington should stop trying to foster the illusion that it will emerge the winner from their scrap.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1994 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 成人欧美一区二区三区黑人免费 | 特级西西444www高清大胆 | 久热亚洲 | 五月婷婷综合在线 | 亚洲免费在线 | 第一福利在线 | 成人黄色免费观看 | 黄色高清视频 | 亚洲伦理影院 | 国产精品久久久久久久免费看 | 亚洲一区二区三区成人 | 日韩一页 | 国产99对白在线播放 | 92午夜视频 | 伊人中文在线 | 李丽珍毛片 | 欧美成人一区二区三区片免费 | 国产精品v欧美精品v日韩 | 欧美日韩一二三四区 | 国内外成人在线视频 | 亚洲久久视频 | 99精品在线免费观看 | 亚洲欧美影院 | 欧美日韩视频免费在线观看 | 日韩影视一区二区三区 | 天堂资源最新在线 | 亚洲一区二区在线免费 | 99久久久精品免费观看国产 | 欧美野外猛男的大粗鳮 | 黄色大片91 | 日韩免费av在线 | 九九视频网 | 99天堂网 | 国产精品一区二区三区不卡 | 免费午夜影院 | 天天插天天| 成人福利视频网 | 国产又粗又猛又爽又黄的视频四季 | 色呦呦中文字幕 | 91精品国产高清一区二区三蜜臀 | 国产高清黄网站全免费 |