China’s industrial sector includes mining, manufacturing and public utilities. Photo: AP
US trade war has cost China ‘almost 2 million industrial jobs’, investment bank CICC says
- Total losses of 5 million represent 3.4 per cent of total employment in the sector, according to China International Capital Corp
- Total is equal to 0.7 per cent of China’s overall labour force, but excludes the effects of May’s US tariff increases on US$200 billion of Chinese goods
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US-China trade war
China’s industrial sector includes mining, manufacturing and public utilities. Photo: AP
China, the world’s second largest economy, has been the target of increased tariffs by US President Donald Trump for over a year, with US$250 billion Chinese goods now covered by 25 per cent levies. Photo: AFP
US-China trade war caused ‘self-inflicted’ damage to the global economy, says IMF after third 2019 forecast cut
- International Monetary Fund (IMF) reduced its 2019 world growth forecast down to 3.2 per cent, 0.1 percentage point below its previous outlook released in January
- Trade tensions between Beijing and Washington have continued for over a year despite the latest truce agreed by Donald Trump and Xi Jinping at the G20 summit
Topic |
US-China trade war
China, the world’s second largest economy, has been the target of increased tariffs by US President Donald Trump for over a year, with US$250 billion Chinese goods now covered by 25 per cent levies. Photo: AFP