The savings total in the Chinese economy has fallen thanks to reforms in the social safety net and job security, giving consumers more confidence to spend. Photo: Reuters
Jack Gao
Opinion

Opinion

Jack Gao

China has done its part to rectify global imbalances. It’s time for the US to step up

  • Economist Jack Gao argues that China has rolled out social safety nets and eased restrictions to turn more of its savers into spenders
  • But Washington’s tax cuts and outdated views on trade are worsening the country’s external imbalances

TOP PICKS

The savings total in the Chinese economy has fallen thanks to reforms in the social safety net and job security, giving consumers more confidence to spend. Photo: Reuters
READ FULL ARTICLE
Soybeans are unloaded from a grain truck in Tiskilwa, Illinois. China has also imposed 30 per cent in additional tariffs on yellow soybeans – the sort the US grows in abundance – including 25 per cent in June and 5 per cent on September 1, bringing the current tariff level to 33 per cent. Photo: Bloomberg

China to exempt US pork and soybeans from additional trade war duties, in response to Trump’s tariff delay

  • Xinhua News Agency reported exemption is in response to the US’ decision to postpone planned tariff increase from October 1 to October 15
  • It comes after US President Donald Trump spoke on Thursday of the possibility of an ‘interim trade deal’ over the coming weeks
Topic |   US-China trade war

TOP PICKS

Soybeans are unloaded from a grain truck in Tiskilwa, Illinois. China has also imposed 30 per cent in additional tariffs on yellow soybeans – the sort the US grows in abundance – including 25 per cent in June and 5 per cent on September 1, bringing the current tariff level to 33 per cent. Photo: Bloomberg
READ FULL ARTICLE