Caixin
Oct 24, 2018 05:36 AM
ECONOMY

Worst-Case Scenario of Trade War: 1.5 Points Off GDP Growth

China’s economic growth will slow by 1.5 percentage points if all U.S. tariff threats come true, Wang Yiming said. Photo: VCG
China’s economic growth will slow by 1.5 percentage points if all U.S. tariff threats come true, Wang Yiming said. Photo: VCG

A full-blown trade war with the United States will bring “substantial impacts” to the Chinese economy, dragging down growth of 15 manufacturing-related sectors, a senior policy adviser warned Tuesday.

The effects of worsening trade frictions on China’s economy are generally under control, but China should be prepared for the worst-case scenario, said Wang Yiming, a vice minister of the Development Research Center (DRC) of the State Council, a top government think tank, at a conference held by China Everbright Ltd.

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