Chinese media hit back at Trump as Chinese economy falters

Chinese state media issued unusually personal attacks on President Trump over his aggressive stance on trade, vowing that China would stand strong amid short-term economic losses.
By Rick Docksai | Aug 07, 2018
Chinese state media lambasted President Trump and his trade policies on Monday in unusually personal attacks. The Chinese media statements, which vowed that China would stand up to Trump's tariffs and threats, came about amid increasing turbulence in China's financial markets stemming from the escalating China-U.S. trade disputes.

Trump is turning international trade into a "zero-sum game" in which he stars in his own "street fighter-style deceitful drama of extortion and intimidation," stated a commentary in the People's Daily, the Chinese Communist Party's newspaper. The commentary dismissed Trump's pressure on China as "wishful thinking" and said that his actions imperil the credibility of the United States, adding that "governing a country is not like doing business."

The Global Times, a Chinese nationalist paper, joined in the criticism with a commentary declaring that "China has time to fight to the end. Time will prove that the U.S. eventually makes a fool of itself." The commentary went on to say that China does not fear "sacrificing short-term interests"i.e., economic losses in the near term from U.S. tariffs on Chinese goods.

The commentaries follow Trump's tweets on Saturday, in which he boasted that his tariffs on Chinese imports are "working far better than anyone ever anticipated" and that Beijing is now talking to the United States about trade. He said that losses in China's stock market had spurred it to negotiate, and he predicted that the U.S. market will "go up dramatically" once his administration has implemented new trade deals.

China's economy has taken some hits recently, according to data that shows GDP growth slowing, corporate bankruptcies rising, and the yuan losing value. U.S. companies in China are responding by raising prices, and many have said that they will move some sourcing and manufacturing out of China.


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