Expert: Trade impact on China's growth to be minimal
The impact of trade disputes on China's growth will be around 0.5 percentage points, more optimistic than the International Monetary Fund's prediction of a 0.5 to 1.5 percentage point decrease in China's GDP growth rate according to a Chinese senior economist.
Facing an escalation of trade conflict with the United States, the world's second-largest economy will take counter-cyclical measures to offset impact but the adjustment will be minor, said Justin Yifu Lin, dean of the Institute of New Structural Economics and honorary dean of the National School of Development at Peking University. Lin made the remarks in an exclusive interview with China Daily.
China can continue to reduce some income taxes and deepen business regulation reform to make business operations simpler and easier. That would reduce costs for corporations and offset the tariffs' negative effects, he said.
Reporters: Chen Jia, David Blair
Video photographers & editors: Wang Yuxi, Sun Weiwei, Li Xin
Subtitles: Zhao Tingting, Chen Liubing, Zhu Lingqing
Supervisors: Wang Yu, Zhang Chunyan
Publisher: Sun Shangwu
