On Saturday, China’s state-run Xinhua News Agency reported that the Chinese Communist Party had anticipated and prepared for President Donald Trump’s trade war, stating that abandoning the Chinese market would result in losing a decade of growth.
According to a report by Newsis, as the U.S.-China tariff war intensifies, the statement is seen as both a display of confidence and a warning to the United States.
In an online commentary, Xinhua highlighted that despite America’s aggressive tariff policies, China achieved a 5.4% GDP growth rate in the first quarter, maintaining its role as a key driver of global economic growth and stability.
The agency emphasized that turning away from the Chinese market is equivalent to surrendering a decade of growth, noting that many foreign companies have recently expressed optimism about China’s economic outlook and a commitment to mutually beneficial cooperation.
This assertion seems to downplay the impact of the tariff war on the Chinese economy.
Xinhua contrasted China’s commitment to open trade with the U.S.’s protectionism, asserting that China continues to play a central role in the global economy through its openness. The agency declared that while the U.S. misuses tariffs, the Chinese Communist Party anticipated this move and prepared comprehensive countermeasures.
The commentary highlighted China’s strong economic start this year, attributing it to various macroeconomic policies implemented in Q1. It referenced reports from international media, including the Financial Times, noting that China’s economic performance had surpassed expectations.
Xinhua stressed that China’s economy has consistently grown despite challenges like the global financial crisis, trade protectionism, and the pandemic, emerging stronger from each trial.
The agency also highlighted the resilience of China’s domestic market amid ongoing trade tensions.
Key points included China’s status as the world’s second-largest consumer market with per capita GDP exceeding 13,000 USD, its position as the largest online retail market and second-largest import market, 15 years of global manufacturing leadership, a workforce of over 800 million, and the world’s largest R&D talent pool.
Xinhua asserted that with its robust resilience and vast potential, the Chinese economy has the confidence, strength, and capability to overcome external challenges and transform crises into opportunities.
Amid global uncertainty fueled by the U.S.’s ever-changing policies, the agency stated that aligning with China offers opportunities, and investing in China is an investment in the future.
