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Reuters: Chinese stock markets battered by trade war fears
(Reuters) - Chinese stocks have lost more than a fifth of their value in dollar terms this year on concerns that rising U.S. tariffs on Chinese imports would hurt corporate earnings.
The world’s two biggest economies have applied tariffs to $50 billion of each other’s goods.
As U.S. President Donald Trump threatens to impose further tariffs on all the roughly $500 billion of Chinese imports, which could spell further downside for mainland shares, here’s a rundown of how much damage has been inflicted so far.
China exports consumer goods such as cell phones, computers and televisions, and industrial goods including electric power equipment and machinery to the United States.
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Update: Chinese stocks hits 31-month low (The Guardian)
WNU Editor: What is my take on this Chinese stock market collapse. It is Chinese investors making the bet that the U.S. - China trade war is going to get worse, and one that China will lose.
2 comments:
China isn’t the only low cost sweat shop in the world. The USA is China’s number one export market in the world.
Now throw in a determined Trump Admin to bring manufacturing back to the USA, yeah it’s not looking good for China.
There is a larger component here as well. A lot of emerging economies are struggling right now and a lot of people are putting there bets on the US. MAGA!!
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