China's priorities right now are to resolve its trade dispute with the U.S. and settle the civil unrest in Hong Kong, said Becky Liu, head of China macro strategy at Standard Chartered Bank.
"The National Day is an important day but in the context of this big trade negotiation with the U.S., even including the Hong Kong situation, the face issue is not as important as many people have thought," said Liu said, referring to the Asian mentality of "saving face" — the idea of avoiding public humiliation, or appearing like one has lost out.
"We feel clearly the Chinese authorities would like to at least contain the pace of escalation of conflict with the U.S.," Standard Chartered's Liu said.on $250 billion in Chinese goods to 30% from 25%, and increase tariffs on another $300 billion in products to 15% from 10%. It came the same day China announced new tariffs on $75 billion in U.S. goods
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