Chinese Vice Premier Ding Xuexiang warned on Tuesday that there are 'no winners' in a trade war as China confronts the threat of tariffs under Donald Trump's newly elected government. Ding emphasized the dangers of protectionism, comparing it to locking oneself in a dark room.
Chinese Vice Premier Ding Xuexiang warned on Tuesday that there are “no winners” in a trade war as China confronts the threat of tariffs under Donald Trump 's newly elected government, per CNBC. Key quotes “Protectionism leads nowhere. trade war has no winners.” “Pursuing protectionism is just like locking one’s self in a dark room. Wind and rain might be kept outside, but so are light and air.” Market reaction At the press time,theAUD/USDpairis up 0.09% on the day to trade at 0.6275.
How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar . When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected.
Economics TRADE WAR PROTECTIONISM CHINA DONALD TRUMP ECONOMICS
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