Bloomberg TV’s Asia Pacific Chief Markets Editor, David Ingles, shared an interview with former People’s Bank of China (PBoC) advisor Li Daokui, who dismissed concerns over the tariffs:
“I strongly believe this time around, tariff is no longer a big issue. If you give me the order of three top issues in China or challenges in China, I don’t even put top three the tariff from President Trump. In fact, the whole economy was preparing for 40% and even 60% of tariff hike from President Trump. Now he’s only proposing 10%, of course, there are indirect tariffs upon Chinese products from Mexico, from Canada, from Europe. But, overall, it’s still smaller than people anticipated. It’s smaller than the year of 2018. So, this time around, the Chinese economy is fully fully prepared. I do not think the tariff is a big issue.”
Daokui…
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