The Government of Chinas unilateral reduction of tariffs last month on almost 200 consumer products provides further testimony to the fact that the goal of trade is not just to increase exports, but also imports. The Chinese have become tired of being poor people living in an increasingly wealthy nation.
In fact, after years as the worlds biggest exporter, China is on track to becoming the worlds biggest importer over the next few years, according to a paper prepared by two leading economists for the China International Capital Corporation, the countrys first joint venture…

More…

Comments are closed.