{"id":355456,"date":"2018-04-06T03:17:31","date_gmt":"2018-04-06T02:17:31","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/why-china-will-not-back-down-from-a-trade-war\/"},"modified":"2018-04-06T03:17:31","modified_gmt":"2018-04-06T02:17:31","slug":"why-china-will-not-back-down-from-a-trade-war","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/newswire\/why-china-will-not-back-down-from-a-trade-war\/","title":{"rendered":"Why China will not Back Down from a Trade War"},"content":{"rendered":"<div>\n<p><a href=\"https:\/\/dissidentvoice.org\/2018\/04\/why-china-will-not-back-down-from-a-trade-war\/chinas-economy\/\" rel=\"attachment wp-att-78508\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/dissidentvoice.org\/wp-content\/uploads\/2018\/04\/chinas-economy-e1522973133822.jpg\" alt=\"\" width=\"250\" height=\"264\" class=\"alignleft size-full wp-image-78508\" \/><\/a>On Tuesday (4\/3\/2018) the US published a list of Chinese imports, set to be hit with a<a href=\"https:\/\/tribune.com.pk\/story\/1677055\/2-us-lists-50-billion-chinese-imports-facing-tariffs\/\"> $50 billion tariff increase<\/a>. This is the latest in an escalating trade skirmish between the US and China, that could escalate into a war. On Monday (4\/2\/2018) China implemented a <a href=\"http:\/\/www.globaltimes.cn\/content\/1096231.shtml\">$3 billion tariff hike<\/a> on several US imports including fruits, pork and steel. This was in response to Trump\u2019s tariffs on Chinese aluminum and steel one month ago. Back then, he was tweeting, \u201c<a href=\"https:\/\/www.democracynow.org\/2018\/4\/2\/headlines\/china_imposes_retaliatory_tariffs_on_us_food_imports\">trade wars are good and easy to win<\/a>,\u201d but now it appears he is getting a dose of his own medicine. <\/p>\n<p>Xi is unlikely to back down since, several facets of the Chinese economy bolster it against the vicissitudes of a possible trade war. First, China has built up its internal economy. China\u2019s \u201ctownship village enterprises\u201d (TVEs) helped rural incomes rise <a href=\"http:\/\/jwsr.pitt.edu\/ojs\/index.php\/jwsr\/article\/view\/488\/500\">by 300% between 1989 and 2005<\/a>, fueling domestic demand. Moreover, China\u2019s internal markets received an unprecedented boost in 2008, when the government launched its <a href=\"https:\/\/monthlyreview.org\/2012\/02\/01\/the-global-stagnation-and-china\/\">$586 billion<\/a> stimulus plan in response to the financial crisis. China has also maintained record high levels of <a href=\"https:\/\/monthlyreview.org\/2017\/01\/01\/a-theory-of-chinas-miracle\/\">investment in infrastructure<\/a> and built a world renown <a href=\"http:\/\/www.worldbank.org\/en\/news\/press-release\/2014\/07\/10\/cost-of-high-speed-rail-in-china-one-third-lower-than-in-other-countries\">high speed rail system<\/a> that has greatly <a href=\"https:\/\/www.tandfonline.com\/doi\/full\/10.1080\/21598282.2012.684278\">reduced transport costs<\/a> to the interior. Correspondingly, exports as a percentage of GNP have been <a href=\"http:\/\/databank.worldbank.org\/data\/reports.aspx?source=world-development-indicators\">falling steadily since 2006<\/a>, and with them reliance on trade with the US.<\/p>\n<p>Second, South-South economic ties have been strengthened by China\u2019s <a href=\"https:\/\/monthlyreview.org\/2017\/01\/01\/one-belt-one-road\/\">one-belt one road project and Asian&#8230;<\/a><\/p>\n<\/div>\n<p><a href=\"https:\/\/dissidentvoice.org\/2018\/04\/why-china-will-not-back-down-from-a-trade-war\/\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Tuesday (4\/3\/2018) the US published a list of Chinese imports, set to be hit with a $50 billion tariff increase. This is the latest in an escalating trade skirmish between the US and China, that could escalate into a war. On Monday (4\/2\/2018) China implemented a $3 billion tariff hike on several US imports [&hellip;]<\/p>\n","protected":false},"author":2525,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-355456","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/355456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/2525"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=355456"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/355456\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=355456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=355456"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=355456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}