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Experts discuss Xi Jinping’s plans to ‘open’ China
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Chinese President Xi Jinping on Tuesday promised to open the country’s economy further and lower import tariffs on products including cars, in a speech that comes amid rising trade tensions between China and the United States. Xi also said China would raise the foreign ownership limit in the automobile sector “as soon as possible” and …
Continue reading “Experts discuss Xi Jinping’s plans to ‘open’ China”
Chinese President Xi Jinping on Tuesday promised to open the country’s economy further and lower import tariffs on products including cars, in a speech that comes amid rising trade tensions between China and the United States.
Xi also said China would raise the foreign ownership limit in the automobile sector “as soon as possible” and push previously announced measures to open the financial sector.
Richard Harris of Port Shelter Investment Management said that the market was getting too excited about the issue of trade war etc. “We have seen enough consolidation in global markets to move ahead now”, he said.
Shane Oliver, Head Investment Strategy & Chief Economist at AMP Capital Investors said that emerging market is more exposed to a trade war than developed markets because exports tend to be a higher share of their economic activity particularly Asian markets.
“The trade war is going to be between US and China. The supply chain across Asia is going to be much vulnerable to that,” he added.
(With inputs from Reuters)
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