Tariff Hikes Another Strike on Chinese Regime’s ‘Green Industrialization’ Ambition
A truck passes by shipping containers at the Port of Los Angeles, after tariffs on Chinese imports was imposed by President Donald Trump, in Long Beach, California on Sept. 1, 2019. Mark Ralston/AFP/Getty Images
The global economic outlook has taken another unanticipated shift following the Biden administration’s steep tariff hikes imposed on major Chinese imports, particularly electric vehicles, batteries, and solar panels. On the other hand, as the Chinese regime vows to retaliate against the United States, the continued exodus of global supply chains from China further exacerbates the perennial problem of the Chinese socialist economy—low domestic demand.
Unsustainable Trade Imbalance
Wu Chia-lung, a Taiwanese macroeconomist and researcher, said on the “Pinnacle View” program that the Chinese Communist Party’s (CCP) decades-long, irrational control over the Chinese economy is the primary cause of the ongoing trade deficit the United States has with China.
Pinnacle View Team
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“Pinnacle View,” a joint venture by NTD and The Epoch Times, is a TV forum centered around China. The program gathers experts from around the globe to dissect pressing issues, analyze trends, and offer profound insights into societal affairs and historical truths.
