Bright signs in the main shopping street of the city centre in Shanghai Vincent Isore/IP3/Getty Images

China’s Smart Trade Moves

China has already shown itself to be handling US trade pressure in a much more savvy way than Japan did in the 1980s. Far from laying the groundwork for a protracted recession, China’s response – increasing imports and accelerating domestic structural reforms – will support high-quality long-term growth.

SHANGHAI – US President Donald Trump’s announced plans to target China with trade tariffs represent a significant departure from his predecessors’ approach. China is now seen primarily as an economic adversary, rather than an economic partner. That may be a difference of degree rather than kind: Trump’s policies are the culmination of a decade of US trade frustration.