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CHINA PRESS: China Can Learn From Japan-U.S. Trade History

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

China should study the history of Japan-U.S. trade relations when considering a new trade-war with Washington, former State Administration of Foreign Exchange Senior Official Wang Tao has said. Japan accounted for 22.2% of US imports in 1986, 0.8 percentage points more than Beijing’s highest level in 2017, before dropping to 4.7% in 2023, Wang noted. Authorities need to respond to external shocks by accelerating incremental policies and deepening opening up. In recent years, China’s market share of global exports has increased despite declining in the U.S., showing containment of indirect exports through third party countries was difficult in practice, Wang said.

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China should study the history of Japan-U.S. trade relations when considering a new trade-war with Washington, former State Administration of Foreign Exchange Senior Official Wang Tao has said. Japan accounted for 22.2% of US imports in 1986, 0.8 percentage points more than Beijing’s highest level in 2017, before dropping to 4.7% in 2023, Wang noted. Authorities need to respond to external shocks by accelerating incremental policies and deepening opening up. In recent years, China’s market share of global exports has increased despite declining in the U.S., showing containment of indirect exports through third party countries was difficult in practice, Wang said.