Arya News - The main threat to the fulfillment of China`s economic plans is external shocks, particularly the tariff hikes promised by US President-elect Donald Trump, the Institute of World Economy and International Relations (IMEMO) of the Russian Academy of Sciences said on Monday in a report obtained by Sputnik.
The main threat to the fulfillment of China"s economic plans is external shocks, particularly the tariff hikes promised by US President-elect Donald Trump, the Institute of World Economy and International Relations (IMEMO) of the Russian Academy of Sciences said on Monday in a report obtained by Sputnik. The Central Committee of China"s Communist Party made key strategic decisions in the area of socio-economic development at its third plenary session in 2024; their implementation will be the main task for 2025, the Russian experts wrote. The authors of the report also predict a tightening of isolation policies toward China by the US and its allies in the area of advanced technologies. In this regard, they note that China will continue its path of import substitution of key technologies and expanding the production of high-tech products. Chinese authorities will make every effort to prevent this, and the most likely response from Beijing to the actions of the US administration will be a new package of measures to stimulate the economy, the Russian scientists expect. Trump has repeatedly said that he intends to introduce additional tariffs on products from China and other countries. On November 25, the US president-elect promised to add 10% to tariffs on goods from China. He also promised to sign an executive order imposing 25% tariffs on all goods imported from Mexico and Canada as soon as he takes office on January 20.IMEMO is an entity within the network of research institutes under the Russian Academy of Sciences.