Shanghai is the only big city in the world with more than 1, 000 Coffee shops, according to Xie, who reminded the US of the existence of US businesses.
” The more success stories of mutually beneficial assistance, the better”, Xie said. China and the United States can work together to achieve some wonderful and positive things, and the list of ways to work together really grow longer and longer.
However, Xie said that any attempt to have or subdue China would simply “hit a wall.”
According to analysts, China may be prepared to respond if a fresh trade war broke out.
” Even in the unlikely event that we saw a rapid thaw in US-China relationships, Beijing will proceed to prioritise self-sufficiency and financial surveillance”, said Joe Mazur, senior researcher at Beijing-based firm Trivium China.
” If ( tariffs ) were to happen, I think we would start to see some pretty aggressive retaliation from the Chinese side. The conclusion in this case is likely to be that playing nice really did n’t get China anywhere, and that retaliation might make the US reconsider pressing China’s economic pressure.
Julian Evans-Pritchard, Head of China Economics at Capital Economics, wrote in a statement on Thursday:” We estimate that the direct effects of perhaps a 60 per cent US tax on goods from China would be well under 1 per cent of China’s GDP”.