Former PBOC governor: Trade war has limited impact on China's economy
By China Watch |
Caixin |
Updated: 2018-09-10 17:27
The trade conflict has just a limited impact on China's economic growth, and China can fend off a trade war by exploring other markets, Zhou Xiaochuan, former governor of the People's Bank of China (PBOC) told CNBC on Sept 7 at the Ambrosetti Forum on the shores of Lake Como in the Italian Alps.
According to a report by China's financial news portal Caixin, Zhou pointed out that US President Donald Trump’s goal of striking a balance in bilateral trade is difficult to achieve. Instead, Zhou stressed, the US should make full use of its comparative advantage, rather than blindly pursue a smaller trade deficits in goods.
The recent fluctuations in China's stock market was ascribed to the nervousness among investors, as well as some other domestic factors, said Zhou.
The trade conflict has just a limited impact on China's economic growth, and China can fend off a trade war by exploring other markets, Zhou Xiaochuan, former governor of the People's Bank of China (PBOC) told CNBC on Sept 7 at the Ambrosetti Forum on the shores of Lake Como in the Italian Alps.
According to a report by China's financial news portal Caixin, Zhou pointed out that US President Donald Trump’s goal of striking a balance in bilateral trade is difficult to achieve. Instead, Zhou stressed, the US should make full use of its comparative advantage, rather than blindly pursue a smaller trade deficits in goods.
The recent fluctuations in China's stock market was ascribed to the nervousness among investors, as well as some other domestic factors, said Zhou.
