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market could deter爱上海同城对对碰mine the RMB exchange rate, but if extreme situations arise, the central bank
can exercise some intervention to prevent spillover effects of exchange rate volatilities on neighboring countries.
Yi, the PBOC governor, said the current fiscal policy package is strong enough to counter headwinds, even if
the situation gets a little worse, and “a discussion” could be opened if the scenario turns “tremendously worse”.
Looking forward, the unemployment rate, rather than the GDP growth rate, should receive more atte
ntion. “The Chinese economy is presently doing reasonably well, and I don’t worry too mu
ch about the unemployment problem. So long as people still have jobs, it’s not a concern if growth slows slightly. But this ma
tter deserves to be very closely watched, particularly as now trade tensions escalate rapidly,” Huang said.
If trade tensions start to have “bigger impacts” on the economy, he said
nd force low-end manufacturers to move out more rapidly, it might increase the pres
sure on unemployment. So supporting domestic consumption and encouraging the development of the servi
ces sector, especially labor-intensive services, could help mitigate the pressure, he said.
revenue collected by the US government through hefty tariffs on Chinese imports, has been paid almost entirely by US importers.
“Some of these tariffs have been passed on to US consumers, such as those on washing machines, wh
ile others have been absorbed by importing firms through lower profit margins,” the research said.
Any further increase in tariffs will likely be passed through to consumers, it said.
China and the US, the world’s two largest economies, have been embroi
led in a tit-for-tat trade confrontation over the past few months. Washington threatened to fur
ther escalate a tariff war and increased tensions by tightening restrictions on Chinese companies.
Earlier this month, the US raised tariffs on $200 billion of Chinese imports from 10 percent to 25 percent, and China took coun
termeasures. Then the US administration listed about $300 billion more of Chinese goods for possible tariff hikes.
dialogues based on harmony in diversity and inclusiveness. We need to undertake the cultural responsibility of inter
national communicators, and let exchanges of culture and among civilizations, as well as mutual learning, co
nstantly serve as bridges for people’s friendship, the impetus of international cooperation and bond of world peace.
Second, we should become builders of world peace and development. The wheel of humanities’ de
velopment is unstoppable. Peace, reconciliation and harmony are historical trends. Equality, mut
ual trust and win-win cooperation are historical necessities. Yet, as international conventions are attacked an
d multilateral mechanisms are challenged, the anti-globalization tendency rises, and unilateralism and tra
de protectionism are becoming increasingly fierce. We must adamantly safeguard the contemporary interna