A China-U.S. trade war looks imminent after the U.S. administration announced on June 15 plans to impose additional tariffs of 25 percent on $50 billion of Chinese goods, with the Chinese Government responding with reciprocal tariffs.
The year 2018 is the 40th anniversary of China’s reform and opening-up and also a crucial year for economic structural transformation.
The trade imbalance between China and the United States is becoming a tool for Washington to pursue its “America First” objective. Is the trade imbalance really unfair to the United States? Is it fair to judge the trade relationship simply on the basis of surplus or deficit?
According to a reporter from Forbes on September 12, “A global power shift in the technology sector is underway… China has moved from imitator to innovator, and in the new era of fintech, biotech and machine learning, I expect it to take a global leading role.”