The trade war between Washington and Beijing is unlikely to cause any “major” blow to the Chinese economy, an analyst at Morgan Stanley said as quoted by CNBC.
The Chinese government will continue to implement measures to mitigate the consequences of the ongoing trade rift with the United States, said Robin Sin, Morgan Stanley’s chief economist for China.
He said the agency was not expecting any serious correction in the growth of China’s economy and rather believes that the potential impact of tariffs will be partially mitigated by the measures taken by Chinese government.
American tariffs, apparently, already affect the Chinese economy, since the latest data show a slowdown in export orders. A further weakening of economic activity is expected in August, the analyst supposes, but Beijing is likely to cushion the effect of the duties imposed by Washington in September and October.