Waiting out the trade war is the best option for China, while it boosts its economy which is largely driven by consumers — not trade, say analysts.
's best option in the trade war is to wait it out, experts say, as it's huge domestic economy is increasingly being driven by the power of its consumers — not trade.
"The government is trying to buy time in terms of using the window to restructure the domestic economy ... the domestic corporate sector," Chung told CNBC on Thursday. "We describe China's current strategy as 'endurance': the main goal is to preserve China's economic resilience, while taking the higher US tariffs as a given fact," Deutsche economist Yi Xiong wrote in the report.
"The impact on growth was over-rated," ANZ said in a Wednesday report, pointing out that China's first-half GDP growth this year was still 6.3% — even with tariffs already affecting its exports.
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