CHINA TOPIX

11/02/2024 01:20:41 pm

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China Expresses Economic Concerns over Donald Trump Regime

Donald Trump

(Photo : Getty Images) There are speculations that the Trump administration may seek to re-negotiate US trade relationship with China.

China has aired its misgivings about the incoming Donald Trump regime in the US, believing that the future leader is likely to engage in a trade war, causing damage to both countries. Trump has maintained a prominent anti-China stance during his election campaign.

China's customs agency said on Friday that Chinese authorities are keeping a watchful eye over Trump's foreign trade policy. Customs spokesman Huang Songping said, "The trend of anti-globalisation is becoming increasingly evident, and China is the biggest victim of this trend." 

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China is currently facing consistent decline in its exports. The latest data released on Friday showed that the country's exports declined 7.7 percent during 2016. Its imports also showed a negative trend with 5.5 percent decline during the same time period. The rate of decline is the worst since the global crisis of 2009.

China currently enjoys trade surplus of more than $20 billion against the United States. However, this trade surplus has brought the country into spotlight for Trump. It is also being used as a criteria for labeling China as a "currency manipulator."

There are also speculations that the Trump administration may seek to re-negotiate the trade relationship between the two countries. However, China's economic slowdown is likely to have more profound effect on overall global economic scene.

Apart from foreign trade concerns with the US, China is also grappling with issues such as asset inflation and weakening yuan. It is expected that in the current years, the authorities will focus more on economic stability than the absolute growth rate. 

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