China's Trade Reliance May Limit Retaliation on Steel
An analysis by Michael Lelyveld
2018-03-05
Chinese workers watch red-hot steel at a steel plant in Zouping in China's eastern Shandong province, March 5, 2018.
AFP
China's heavy reliance on trade may make it less likely to launch tough retaliatory measures in response to U.S. tariffs on steel, experts say.
According to World Bank figures, the value of China's trade accounted for 37 percent of its gross domestic product in 2016, compared with 26.5 percent for the trade ratio of the United States.
The numbers suggest that China would sustain more economic damage if retaliatory measures lead to a trade war following President Donald Trump's announcement of tariffs on imported steel and aluminum last week.
That calculation could influence China's decisions on what types of retaliatory steps to take or whether to bring a complaint to the World Trade Organization for settlement under a lengthy process.
Experts say China's greater vulnerability to trade restrictions would likely be only one of several factors that could temper its response to U.S. tariffs, but it may put Beijing at a disadvantage in the event of a showdown with Washington.
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READ MORE: https://www.rfa.org/english/commentaries/energy_watch/chinas-trade-reliance-may-limit-retaliation-on-steel-03052018115021.html
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