The official newspaper of China’s courts, the state-run People’s Court Daily, recently published a commentary with a rare candid assessment: as the United States imposes tariffs on more China exports, many Chinese firms will go bankrupt, especially private companies.
“It is unpredictable how [the U.S.–China trade war] will develop and to what extent,” wrote Du Wanhua, a senior judge at China’s highest court, the Supreme People’s Court, in the July 25 commentary. “But one thing is certain. If the United States imposes high tariffs on Chinese products imported into the United States according to the scale of $60 billion, $200 billion, and $500 billion, many enterprises in China will face the predicament of becoming bankrupt.”
