US urged to beware of brunt of its tariff policy

As the trade war started by the United States continues to unfold, it is becoming increasingly clear that Washington has underestimated the strength and adaptability of China's economy, and has overlooked the brunt of the tariffs that will be borne by US consumers and businesses — a miscalculation that has led economists to believe that the White House's tariff strategy is destined to fail.

Against this backdrop, China is doubling down on policies designed to reinforce the country's role as a stabilizing force in global trade and economic development. The recently concluded two sessions — the annual meetings in Beijing of the country's top legislative and political advisory bodies — laid out a road map that is going "to get China's economy on a stable, sustainable growth trajectory", said Chen Wenling, a senior economist.

"By doing so, China aims to establish itself as a stabilizing force within the world economy, serving as a reliable partner for global trade and development aspirations," said Chen, former chief economist at the China Center for International Economic Exchanges.