Turning crisis into opportunity: How China responds to US tariff impact
Zhang Jun, chief economist at China Galaxy Securities, said during an exclusive interview with China Perspective that China's firm response against the United States' unwarranted tariff policy has given confidence to other countries, and encouraged many to recognize "the side of justice, or the correct side".
Despite short-term shocks, the issue of US tariff policy provides China a window to turn crisis into opportunity, he said, adding that it will help drive China's next wave of industrial upgrading and accelerate the transformation towards new quality productive forces.
Looking ahead, with 1.4 billion people and the world's largest middle-income group, Zhang said China is expected to surpass the US by 2040 as the world's largest consumer market, becoming a stabilizer for the global economy.
