A steel plant in Dalian, Liaoning province, China. Photo: Reuters
Tom Holland
Opinion

Opinion

Abacus by Tom Holland

US-China trade war: here are Beijing’s options – and not one looks any good

  • Hit by a hike in US tariffs China could: respond with equal tariffs (impossible); dump US Treasury bonds (ineffective and impractical); let the yuan weaken (expensive)
  • Or it could give in to Trump and lose face (for Xi, unthinkable)

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A steel plant in Dalian, Liaoning province, China. Photo: Reuters
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