The trade war could make China even stronger [CNN]
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Source: CNN
How the trade war could make China even stronger But the company, Suzhou Osaitek Photoelectric Technology, is now speeding up plans to produce the components itself, according to He Zhongya, its chief engineer. The reason? New tariffs in the trade clash between the United States and China have made the American-made parts too expensive. The company, which employs about 100 people, would have made the shift to local production eventually, but "the trade war accelerates the transition," He told CNN. The world's top two economies have imposed tariffs on hundreds of billions of dollars of each other's goods. The measures are expected to take a heavier toll on China's economy , which relies more on exports and has already started losing steam this year . But the conflict is encouraging Chinese companies and government officials to move ahead with changes that could eventually make the economy more competitive and more appealing to foreign investors. "The crisis incentivizes China to develo
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