Letsnewz.

Letsnewz.

Lin Yifu: The U.S. Faces Greater Challenges in the Tariff War than China

Lin Yifu: The U.S. Faces Greater Challenges in the Tariff War than China

At a salon event held by the Chinese Public Diplomacy Association in Beijing, Lin Yifu, Honorary Dean of the National School of Development at Peking University, stated that the difficulties faced by the U.S. are greater than those faced by China. He analyzed the impact of current tariff levels on China's GDP and the challenges faced by U.S. manufacturing.

Lin emphasized that China's economy is predominantly based on domestic circulation, indicating that as long as China focuses on its internal market, it can achieve its economic growth targets. He expressed confidence in achieving this year’s growth goal, noting that U.S. tariff policies are irrational and unlikely to be sustainable. He pointed out that while there is a risk of decoupling, the likelihood of complete decoupling is low, as American consumers and businesses still require Chinese products.

Furthermore, Lin suggested that the government should adopt more proactive fiscal policies and leverage monetary policies to address economic challenges and ensure stable growth.