The Impact of the Sino-US Trade War on the Chinese Economy

DOI

10.2991/978-94-6463-459-4_44How to use a DOI?

Keywords

Sino-US Trade War; World Economy; GDP; Trade Deficits; Tariffs and Competitiveness

Abstract

In recent years, the world economy has seemed to improve; however, economic underpinnings such as trade wars seem to undermine the steps toward economic progression. Generally, trade wars have no winners because the parties involved experience declined exports and GDP, which are integral to international trade. To this effect, this paper and its entirety embarked on an exploration of the implications of trade wars with a particular focus on China in the China-U.S. trade wars. Upon successful completion, this paper concludes that the trade wars negatively impacted China’s GDP due to decreased exports. This paper also concludes that the Sino-U.S. trade wars negatively impacted China’s level of competitiveness, given that the rise in taxes/tariffs pushed up the prices of exports. The other conclusion this analysis makes is that Chinese consumers had it rough as they had to pay more for US-based products. The other conclusion that this analysis makes is that China’s economic growth and financial capability have deteriorated due to declining labor productivity. The other conclusion is that the trade wars have negatively affected trade inflows to China, an outcome that has negatively affected the country’s economy. Lastly, this paper concludes that China experienced high trade deficits during and after the trade wars with the U.S.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Hanbo Wei
PY  - 2024
DA  - 2024/07/23
TI  - The Impact of the Sino-US Trade War on the Chinese Economy
BT  - Proceedings of the 2024 9th International Conference on Social Sciences and Economic Development (ICSSED 2024)
PB  - Atlantis Press
SP  - 357
EP  - 365
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-459-4_44
DO  - 10.2991/978-94-6463-459-4_44
ID  - Wei2024
ER  -