People walk past a poster featuring Chinese President Xi Jinping with a slogan reading "Chinese Dream, People's Dream" in Beijing. Xi’s medium-to-long-term plans, in particular its plan to move up the value chain and compete directly with the US in manufacturing through the Made in China 2025 campaign, are the true targets of the US trade war, rather than trade imbalances. Photo: AFP
Opinion
Opinion
Macroscope
China needs to put its house in order as the trade war goes from bad to worse
Aidan Yao says the China-US trade war is likely to continue, if not worsen, since it is rooted in a competition much deeper than trade imbalances, and therefore the Chinese side needs to prepare for the worst
People walk past a poster featuring Chinese President Xi Jinping with a slogan reading "Chinese Dream, People's Dream" in Beijing. Xi’s medium-to-long-term plans, in particular its plan to move up the value chain and compete directly with the US in manufacturing through the Made in China 2025 campaign, are the true targets of the US trade war, rather than trade imbalances. Photo: AFP