Why the ‘American carnage’ is spreading to China
Industrial machinery components are the main source of the US carnage, with China’s government blaming the crisis on the US and the European Union for imposing harsh tariffs on Chinese goods.
China has been the target of a trade war between the two major powers since the 2016 presidential election, which resulted in the US imposing punitive tariffs on imports.
The tariffs are a part of an effort to counter China’s rise as a major manufacturing and trade power.
Analysts and analysts say that the Chinese government is blaming the US for the economic downturn in China, which has led to a trade surplus and a collapse in China’s trade surplus.
“The US is the big loser,” said Michael Deutsch, a China expert at the Brookings Institution in Washington, DC.
“The Chinese government blames the US.
They say, ‘The US has ruined our manufacturing base.'”
Deutsch noted that in 2016, China’s manufacturing sector contracted 1.5 percent.
He added that China’s share of the global economy fell by 2.7 percent in 2016.
As China’s economy has shrunk in recent years, the US has lost billions of dollars in economic output.
China is also a large buyer of US goods, particularly automobiles, which are seen as a vital export to the country.
President Donald Trump has pledged to impose a $US2 (1.6-euro) per car tariff on imported Chinese cars, and has threatened to impose tariffs of as much as $US5 (1,5-euro), according to the Associated Press.
Trump also said he was considering imposing a 10 percent import tax on imported goods, which would be levied at the same rate as China’s, and said he would be considering retaliating by imposing tariffs on goods made by other countries, including Mexico.
While China’s domestic economy has been in recession since mid-2016, many Chinese companies are still making goods and services in the country, including in the United States.
The country’s trade deficit with the United Kingdom, a major economic partner, rose to $US8.8 billion ($11.8 trillion) in March, according to Bloomberg.
Chinese companies have been accused of profiting from the US crisis and the subsequent crackdown on imports from China, and they have been trying to increase their foreign ownership by buying up US assets.
But in the past few weeks, Chinese President Xi Jinping has also made it clear that he wants to protect China’s own interests.
Xi said in an interview published on Sunday that China is a country that wants to preserve its sovereignty and sovereignty over the environment and to have a peaceful, stable and prosperous life.
“We have to protect our environment, and we will have to safeguard the environment in a way that will be peaceful, orderly and peaceful,” he said.