China will use trade war with US to replace imports - state media

Omkar Godbole FXStreet Contributor

The People's Daily newspaper published by the Communist Party is carrying a front-page article, which says that China will use trade war with the US replace imports, promote localization and accelerate the development of high-tech products.

Key quotes (Source: Reuters, People's Daily)

To deal with the trade war, what China really should do is to focus on doing its own thing well.

China is not worried that the US trade countermeasures will raise domestic commodity prices by too much, but will instead use it as an opportunity to replace imports, promote localization or develop export-oriented advanced manufacturing.

China has always managed to find the proper solutions to put its economy back on track.

The trade conflict will not force China to succumb to US pressure. Instead, given its economic resilience, it will squarely face those challenges, find the right solutions, and emerge stronger

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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