China’s success to depend on its economic development, not US policy - Westpac
Elliot Clarke, Analyst at Westpac expresses his take on the Chinese economic prospects, in light of the US-China phase one trade deal reached last week.
“The past 12 months has been a particularly challenging period for China. This is not only due to tensions with the US, but also because of broad-based weakness in investment.
With the bulk of tariffs between the US and China to remain indefinitely, and as China’s domestic cost base progressively makes the nation uncompetitive for simple manufacturing, future growth for China rests on an expansion into new products and markets.”