Liu He, China's vice-premier, departing negotiations in Washington on Friday after a meeting with US Trade Representative Robert Lighthizer (foreground right) and US Treasury Secretary Steven Mnuchin. Photo: Bloomberg

China is a ‘kung fu master’ and can deliver ‘deadly punch’ to US economy in trade war, ex-official says

  • China has many options for retaliating against the US and is likely to implement tariffs that go beyond trade in goods, a former top government official says
  • Wei Jianguo, a former vice-minister in the Ministry of Commerce, says China has the ‘willingness to act to fight a prolonged war’
Topic |   US-China trade war

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Liu He, China's vice-premier, departing negotiations in Washington on Friday after a meeting with US Trade Representative Robert Lighthizer (foreground right) and US Treasury Secretary Steven Mnuchin. Photo: Bloomberg
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China holds the biggest volume of US Treasuries in the world, at US$1.123 trillion. Photo: Shutterstock

Will China use its US$1.2 trillion of US debt as firepower to fight the trade war?

  • Fears are mounting among investors and analysts of potential adverse effects on global economic growth as China promises to strike back after US raised tariffs
  • Uncertainties on how escalating tensions will unravel have hurt markets this week
Topic |   China economy

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China holds the biggest volume of US Treasuries in the world, at US$1.123 trillion. Photo: Shutterstock
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