{"id":111736,"date":"2025-09-01T11:52:16","date_gmt":"2025-09-01T11:52:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/111736\/"},"modified":"2025-09-01T11:52:16","modified_gmt":"2025-09-01T11:52:16","slug":"chinas-economy-in-the-trade-war","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/111736\/","title":{"rendered":"China\u2019s Economy in the Trade War"},"content":{"rendered":"<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-y2cmd2784\"><a target=\"_blank\" href=\"#_ftnref1\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[1]<\/a>\u00a0\u201cProducer Price Indexes; Bank of Japan, Eurostat, National Bureau of Statistics, and U.S. Bureau of Labor Statistics,\u201d CEIC Data, <a target=\"_blank\" href=\"https:\/\/www.ceicdata.com\/en\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.ceicdata.com\/en<\/a>, accessed August 2025.<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-2ij4x1353\"><a target=\"_blank\" href=\"#_ftnref2\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[2]<\/a>\u00a0\u201cCN: Share to GDP Growth: Net Export of Goods and Services; National Bureau of Statistics,\u201d CEIC Data,\u00a0<a target=\"_blank\" href=\"https:\/\/www.ceicdata.com\/en\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.ceicdata.com\/en<\/a>, accessed August 2025.<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-epc4c1360\"><a target=\"_blank\" href=\"#_ftnref3\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[3]<\/a>\u00a0\u201cWhat China\u2019s Three Red Lines Mean for Property Firms.\u201d Bloomberg,\u00a0October 8, 2020, updated January 13, 2022, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-08\/what-china-s-three-red-lines-mean-for-property-firms-quicktake\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.bloomberg.com\/news\/articles\/2020-10-08\/what-china-s-three-red-lines-mean-for-property-firms-quicktake<\/a>,<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-h2vil1367\"><a target=\"_blank\" href=\"#_ftnref4\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[4]<\/a>\u00a0Kenneth Rogoff and Yuanchen Yang, \u201cChina\u2019s Real Estate Challenge,\u201d Finance &amp; Development, International Monetary Fund, December 2024, <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/Publications\/fandd\/issues\/2024\/12\/chinas-real-estate-challenge-kenneth-rogoff\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.imf.org\/en\/Publications\/fandd\/issues\/2024\/12\/chinas-real-estate-challenge-kenneth-rogoff<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-mm4vh1374\"><a target=\"_blank\" href=\"#_ftnref5\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[5]<\/a>\u00a0Minxin Pei, \u201cBroke But Not (Yet) Bankrupt: Local Government Finance in the Age of Economic Stagnation,\u201d China Leadership Monitor, no. 84 (June 2025), <a target=\"_blank\" href=\"https:\/\/www.prcleader.org\/post\/broke-but-not-yet-bankrupt-local-government-finance-in-the-age-of-economic-stagnation\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.prcleader.org\/post\/broke-but-not-yet-bankrupt-local-government-finance-in-the-age-of-economic-stagnation<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-7bqga1381\"><a target=\"_blank\" href=\"#_ftnref6\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[6]<\/a>\u00a0\u201cCN: Financial Inst: Source: Deposit: Domestic: Household: Time &amp; Other; the People\u2019s Bank of China,\u201d CEIC Data,\u00a0<a target=\"_blank\" href=\"https:\/\/www.ceicdata.com\/en\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.ceicdata.com\/en<\/a>, accessed August 2025. \u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-bb19s1388\"><a target=\"_blank\" href=\"#_ftnref7\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[7]<\/a>\u00a0\u201cXi Again Pledges to Curb Speculation in China Property Market,\u201d Bloomberg,\u00a0December 22, 2016, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2016-12-22\/xi-again-pledges-to-curb-speculation-in-china-property-market?sref=VZPf2pAM\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.bloomberg.com\/news\/articles\/2016-12-22\/xi-again-pledges-to-curb-speculation-in-china-property-market?sref=VZPf2pAM<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-g6cp71395\"><a target=\"_blank\" href=\"#_ftnref8\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[8]<\/a>\u00a0\u201cCN: Disposable Income per Capita: YTD: Wage and Salary; National Bureau of Statistics,\u201d CEIC Data,\u00a0<a target=\"_blank\" href=\"https:\/\/www.ceicdata.com\/en\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.ceicdata.com\/en<\/a>, accessed August 2025. \u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-6chy91402\"><a target=\"_blank\" href=\"#_ftnref9\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[9]<\/a>\u00a0Liangping Gao, Yukun Zhang, and Ryan Woo, \u201cChina Home Prices Fall at Fastest Pace in 8 Months, Stimulus Calls Rise,\u201d Reuters,\u00a0July 15, 2025, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/asia\/chinas-new-home-prices-fall-fastest-pace-8-months-june-2025-07-15\/\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.reuters.com\/markets\/asia\/chinas-new-home-prices-fall-fastest-pace-8-months-june-2025-07-15\/<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-3qv4a1409\"><a target=\"_blank\" href=\"#_ftnref10\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[10]<\/a>\u00a0\u201cProperty Price Change in No. of Cities; National Bureau of Statistics,\u201d CEIC Data, <a target=\"_blank\" href=\"https:\/\/www.ceicdata.com\/en\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.ceicdata.com\/en<\/a>, accessed August 2025.<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-9u9bh1414\"><a target=\"_blank\" href=\"#_ftnref11\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[11]<\/a>\u00a0\u201cXi Delivers Important Speech at Central Economic Work Conference,\u201d Xinhua,\u00a0updated December 17, 2024, <a target=\"_blank\" href=\"https:\/\/english.www.gov.cn\/news\/202412\/17\/content_WS6760b3e6c6d0868f4e8ee061.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/english.www.gov.cn\/news\/202412\/17\/content_WS6760b3e6c6d0868f4e8ee061.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-m7bdt1421\"><a target=\"_blank\" href=\"#_ftnref12\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[12]<\/a>\u00a0Barry Naughton, Siwen Xiao, and Yaosheng Xu, \u201cThe Trajectory of China\u2019s Industrial Policies,\u201d\u00a0IGCC Working Paper, June 2, 2023, <a target=\"_blank\" href=\"https:\/\/ucigcc.org\/publication\/working-paper\/the-trajectory-of-chinas-industrial-policies\/\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/ucigcc.org\/publication\/working-paper\/the-trajectory-of-chinas-industrial-policies\/<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-smpt91430\"><a target=\"_blank\" href=\"#_ftnref13\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[13]<\/a>\u00a0Xi Jinping, \u201cExplanation of the Resolution of the Central Committee of the Communist Party of China on Further Deepening Reform Comprehensively to Advance Chinese Modernization,\u201d Xinhua, July 21, 2024, <a target=\"_blank\" href=\"https:\/\/en.theorychina.org.cn\/c\/2024-07-21\/1506670.shtml\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/en.theorychina.org.cn\/c\/2024-07-21\/1506670.shtml<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-58iqn1437\"><a target=\"_blank\" href=\"#_ftnref14\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[14]<\/a>\u00a0\u201cCN: Export and Import: North America: United States; General Administration of Customs,\u201d CEIC Data,\u00a0<a target=\"_blank\" href=\"https:\/\/www.ceicdata.com\/en\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.ceicdata.com\/en<\/a>, accessed August 2025.\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-uow1w1444\"><a target=\"_blank\" href=\"#_ftnref15\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[15]<\/a>\u00a0Gerard DiPippo (@gdp1985), \u201cHas China Diversified its Exports Away from Advanced Economies to EMs? Directly, Yes. But Based on Final Demand, No. The AEs, especially the US, Remain the Key Market. China\u2019s Offshore Manufacturing Hubs Could Be Targets in Trump\u2019s Next Trade War. With @NicoleGorton. 1\/,\u201d X, December 6, 2024, 12:03 a.m., <a target=\"_blank\" href=\"https:\/\/x.com\/gdp1985\/status\/1864807745234276478\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/x.com\/gdp1985\/status\/1864807745234276478<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-aeo231451\"><a target=\"_blank\" href=\"#_ftnref16\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[16]<\/a>\u00a0\u201cTrade in Value Added (TiVA) 2023 Edition: Principal Indicators, Levels,\u201d\u00a0OECD Data Explorer, <a target=\"_blank\" href=\"https:\/\/data-explorer.oecd.org\/vis?pg=0&amp;bp=true&amp;snb=15&amp;tm=TIVA&amp;vw=tb&amp;df[ds]=dsDisseminateFinalCloud&amp;df[id]=DSD_TIVA_MAINLV%40DF_MAINLV&amp;df[ag]=OECD.STI.PIE&amp;df[vs]=1.0&amp;dq=VALU.W%2BCHN%2BUSA.C.W..A&amp;pd=1995%2C&amp;to[TIME_PERIOD]=false\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/data-explorer.oecd.org\/vis?pg=0&amp;bp=true&amp;snb=15&amp;tm=TIVA&amp;vw=tb&amp;df[ds]=dsDisseminateFinalCloud&amp;df[id]=DSD_TIVA_MAINLV%40DF_MAINLV&amp;df[ag]=OECD.STI.PIE&amp;df[vs]=1.0&amp;dq=VALU.W%2BCHN%2BUSA.C.W..A&amp;pd=1995%2C&amp;to[TIME_PERIOD]=false<\/a>, accessed August 7, 2025. \u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-ttpff1458\"><a target=\"_blank\" href=\"#_ftnref17\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[17]<\/a>\u00a0Evan S. Medeiros and Andrew Polk, \u201cChina\u2019s New Economic Weapons,\u201d The Washington Quarterly\u00a048, no. 1 (2025): 99\u2013123, <a target=\"_blank\" href=\"https:\/\/www.tandfonline.com\/doi\/full\/10.1080\/0163660X.2025.2480513\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.tandfonline.com\/doi\/full\/10.1080\/0163660X.2025.2480513<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-cxzf11465\"><a target=\"_blank\" href=\"#_ftnref18\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[18]<\/a>\u00a0Gerard DiPippo and Benjamin Lenain, \u201cTesting Self-Reliance: What the Trade War Reveals About China\u2019s Vulnerabilities and Power,\u201d RAND Corporation, June 10, 2025,\u00a0 <a target=\"_blank\" href=\"https:\/\/www.rand.org\/pubs\/commentary\/2025\/06\/testing-self-reliance-what-the-trade-war-reveals-about.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.rand.org\/pubs\/commentary\/2025\/06\/testing-self-reliance-what-the-trade-war-reveals-about.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-jr7f51472\"><a target=\"_blank\" href=\"#_ftnref19\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[19]<\/a>\u00a0\u201cTrade in Value Added (TiVA) 2023 Edition: Origin of Value Added in Final Demand \u2013 China (People\u2019s Republic of),\u201d OECD, \u00a02020, \u00a0<a target=\"_blank\" href=\"https:\/\/data-explorer.oecd.org\/vis?pg=0&amp;bp=true&amp;snb=15&amp;tm=TIVA&amp;vw=tb&amp;df[ds]=dsDisseminateFinalCloud&amp;df[id]=DSD_TIVA_FDVA%40DF_FDVA&amp;df[ag]=OECD.STI.PIE&amp;df[vs]=1.0&amp;dq=.W%2BCHN%2BUSA._T.CHN.GTI%2BD_E%2BC30%2BC29_30%2BC28%2BC27%2BA%2BB%2BINFO%2BJTN%2BFTT%2BC26%2BC26_27%2BC%2B_T..A&amp;pd=2020%2C&amp;to[TIME_PERIOD]=false\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/data-explorer.oecd.org\/vis?pg=0&amp;bp=true&amp;snb=15&amp;tm=TIVA&amp;vw=tb&amp;df[ds]=dsDisseminateFinalCloud&amp;df[id]=DSD_TIVA_FDVA%40DF_FDVA&amp;df[ag]=OECD.STI.PIE&amp;df[vs]=1.0&amp;dq=.W%2BCHN%2BUSA._T.CHN.GTI%2BD_E%2BC30%2BC29_30%2BC28%2BC27%2BA%2BB%2BINFO%2BJTN%2BFTT%2BC26%2BC26_27%2BC%2B_T..A&amp;pd=2020%2C&amp;to[TIME_PERIOD]=false<\/a>, accessed August 7, 2025. \u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-39vb51480\"><a target=\"_blank\" href=\"#_ftnref20\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[20]<\/a>\u00a0Liangping Gao, Kevin Yao, and the Beijing Newsroom, \u201cTariff Cuts Ease Mass China Layoffs Threat, but Job Market Pain Persists,\u201d Reuters,\u00a0May 16, 2025, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/world-at-work\/tariff-cuts-ease-mass-china-layoffs-threat-job-market-pain-persists-2025-05-16\/\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.reuters.com\/business\/world-at-work\/tariff-cuts-ease-mass-china-layoffs-threat-job-market-pain-persists-2025-05-16\/<\/a><\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-q5y931486\"><a target=\"_blank\" href=\"#_ftnref21\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[21]<\/a>\u00a0\u201cCommuniqu\u00e9 of the Fifth National Economic Census (No. 2): Basic Situation of Business Units,\u201d\u00a0National Bureau of Statistics of China, \u00a0December 26, 2024, <a target=\"_blank\" href=\"https:\/\/www.stats.gov.cn\/sj\/zxfb\/202412\/t20241226_1957897.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.stats.gov.cn\/sj\/zxfb\/202412\/t20241226_1957897.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-d1nur1495\"><a target=\"_blank\" href=\"#_ftnref22\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[22]<\/a>\u00a0Ana Swanson et al., \u201cTrump Tariffs: What\u2019s the Latest on the Trade War,\u201d The New York Times, July 12, 2025, <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/article\/trump-tariffs-canada-mexico-china.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.nytimes.com\/article\/trump-tariffs-canada-mexico-china.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-6sxrs1502\"><a target=\"_blank\" href=\"#_ftnref23\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[23]<\/a>\u00a0\u201cAnnouncement No. 18 of 2025 on Export Controls for Medium and Heavy Rare Earth-Related Items,\u201d Ministry of Commerce of the People\u2019s Republic of China and General Administration of Customs, April 4, 2025, <a target=\"_blank\" href=\"https:\/\/www.mofcom.gov.cn\/zwgk\/zcfb\/art\/2025\/art_9c2108ccaf754f22a34abab2fedaa944.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.mofcom.gov.cn\/zwgk\/zcfb\/art\/2025\/art_9c2108ccaf754f22a34abab2fedaa944.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-c64ds1509\"><a target=\"_blank\" href=\"#_ftnref24\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[24]<\/a>\u00a0\u201cChina Quietly Exempts About a Quarter of US Imports from Tariffs,\u201d Bloomberg,\u00a0May 2, 2025, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-02\/china-s-stealth-exemptions-may-amount-to-a-quarter-of-us-imports?sref=VZPf2pAM\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.bloomberg.com\/news\/articles\/2025-05-02\/china-s-stealth-exemptions-may-amount-to-a-quarter-of-us-imports?sref=VZPf2pAM<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-7niwu1516\"><a target=\"_blank\" href=\"#_ftnref25\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[25]<\/a>\u00a0Chad P. Bown, \u201cUS-China Trade War Tariffs: An Up-to-Date Chart,\u201d Peterson Institute for International Economics, August 1, 2025, <a target=\"_blank\" href=\"https:\/\/www.piie.com\/research\/piie-charts\/2019\/us-china-trade-war-tariffs-date-chart\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.piie.com\/research\/piie-charts\/2019\/us-china-trade-war-tariffs-date-chart<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-eyy2z1523\"><a target=\"_blank\" href=\"#_ftnref26\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[26]<\/a>\u00a0Alexandra Stevenson and Keith Bradsher, \u201cWith New 40% Tariff, Trump Takes Aim at U.S. Dependence on China\u2019s Factories,\u201d The New York Times, August 1, 2025,<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/08\/01\/business\/trump-tariffs-china-transshipment.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.nytimes.com\/2025\/08\/01\/business\/trump-tariffs-china-transshipment.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-4hey11530\"><a target=\"_blank\" href=\"#_ftnref27\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[27]<\/a>\u00a0Commentary, \u201cFocus on Doing Your Own Thing,\u201d People\u2019s Daily, April 7, 2025, <a target=\"_blank\" href=\"https:\/\/paper.people.com.cn\/rmrb\/pc\/content\/202504\/07\/content_30066176.html;Central\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/paper.people.com.cn\/rmrb\/pc\/content\/202504\/07\/content_30066176.html;Central<\/a>\u00a0Committee of the Communist Party of China and the State Council, \u201cOpinions on Implementing the Free Trade Pilot Zone Enhancement Strategy,\u201d Xinhua News Agency,\u00a0April 21, 2025,\u00a0 <a target=\"_blank\" href=\"https:\/\/www.gov.cn\/yaowen\/liebiao\/202504\/content_7020177.htm\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.gov.cn\/yaowen\/liebiao\/202504\/content_7020177.htm<\/a>; \u201cHe Lifeng Attended the Special Action Deployment Meeting on Cross-Border Trade Facilitation and Delivered a Speech,\u201d People\u2019s Daily,\u00a0April 25, 2025, <a target=\"_blank\" href=\"https:\/\/paper.people.com.cn\/rmrb\/pc\/content\/202504\/25\/content_30069917.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/paper.people.com.cn\/rmrb\/pc\/content\/202504\/25\/content_30069917.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-u9n161546\"><a target=\"_blank\" href=\"#_ftnref28\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[28]<\/a>\u00a0Brad W. Setser, \u201cChina\u2019s New Intervention Rule,\u201d Council on Foreign Relations,\u00a0July 30, 2025, <a target=\"_blank\" href=\"https:\/\/www.cfr.org\/blog\/chinas-new-intervention-rule\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.cfr.org\/blog\/chinas-new-intervention-rule<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-esknj1553\"><a target=\"_blank\" href=\"#_ftnref29\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[29]<\/a>\u00a0Ian Smith, \u201cUS Dollar Suffers Worst Start to Year Since 1973,\u201d Financial Times, June 30, 2025, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/59c07f63-3331-462b-b9e3-d1bcaea69fce\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.ft.com\/content\/59c07f63-3331-462b-b9e3-d1bcaea69fce<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-7v19e1560\"><a target=\"_blank\" href=\"#_ftnref30\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[30]<\/a>\u00a0\u201cReport on the Work of the Government,\u00a0delivered by Premier Li Qiang at the Third Session of the 14th National People\u2019s Congress, March 5, 2025,\u201d Xinhua News Agency, March 12, 2025, <a target=\"_blank\" href=\"https:\/\/english.www.gov.cn\/news\/202503\/12\/content_WS67d17f57c6d0868f4e8f0c0d.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/english.www.gov.cn\/news\/202503\/12\/content_WS67d17f57c6d0868f4e8f0c0d.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-aekf81567\"><a target=\"_blank\" href=\"#_ftnref31\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[31]<\/a>\u00a0Amber Zhang, \u201cChina\u2019s End-of-Q2 Consumer Pulse \u2013 Charts of the Week,\u201d Baiguan &#8211; China Insights, Data, Context, July 24, 2025, <a target=\"_blank\" href=\"https:\/\/www.baiguan.news\/p\/china-economy-consumer-confidence-job-market-part-time-gig-economy-salary-trend-job-security-layoffs-wage-arrears-retail-recovery-real-estate-second-hand-home-sales-homebuying-intent-consumption-downgrade-saving-money-investment-sentiment-stock-market\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.baiguan.news\/p\/china-economy-consumer-confidence-job-market-part-time-gig-economy-salary-trend-job-security-layoffs-wage-arrears-retail-recovery-real-estate-second-hand-home-sales-homebuying-intent-consumption-downgrade-saving-money-investment-sentiment-stock-market<\/a><\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-8mtz51573\"><a target=\"_blank\" href=\"#_ftnref32\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[32]<\/a>\u00a0Laurie Chen, \u201cChinese Youth Flock to Civil Service, But Slow Economy Puts \u2018Iron Rice Bowl\u2019 Jobs at Risk,\u201d Reuters,\u00a0December 30, 2024, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/chinese-youth-flock-civil-service-slow-economy-puts-iron-rice-bowl-jobs-risk-2024-12-30\/\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.reuters.com\/world\/china\/chinese-youth-flock-civil-service-slow-economy-puts-iron-rice-bowl-jobs-risk-2024-12-30\/<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-ig4k31580\"><a target=\"_blank\" href=\"#_ftnref33\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[33]<\/a>\u00a0\u201cChinese Social-Media Hashtag Signals Growing Frustration With Job Market,\u201d Wall Street Journal, July 24, 2025, <a target=\"_blank\" href=\"http:\/\/www.wsj.com\/economy\/chinese-social-media-hashtag-signals-growing-frustration-with-job-market-e7012daa\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">www.wsj.com\/economy\/chinese-social-media-hashtag-signals-growing-frustration-with-job-market-e7012daa<\/a><\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-owva31586\"><a target=\"_blank\" href=\"#_ftnref34\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[34]<\/a>\u00a0\u201cChina \u2013 Average Wage Levels in New Economy Industries,\u201d MacroMicro,\u00a0<a target=\"_blank\" href=\"https:\/\/en.macromicro.me\/charts\/135122\/china-average-wage-level-of-new-economy-industries\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/en.macromicro.me\/charts\/135122\/china-average-wage-level-of-new-economy-industries<\/a>, accessed August 7, 2025.<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-zcdjg1593\"><a target=\"_blank\" href=\"#_ftnref35\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[35]<\/a>\u00a0\u201cChina Rolls Out Sweeping Employment Push for Record Number of College Graduates,\u201d Xinhua,\u00a0July 9, 2025, <a target=\"_blank\" href=\"https:\/\/english.news.cn\/20250709\/37f348ebf15d40b3a7ff43b125656ffe\/c.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/english.news.cn\/20250709\/37f348ebf15d40b3a7ff43b125656ffe\/c.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-qw7z91600\"><a target=\"_blank\" href=\"#_ftnref36\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[36]<\/a>\u00a0\u201cCN: No of Graduate; Ministry of Education,\u201d CEIC Data,\u00a0<a target=\"_blank\" href=\"https:\/\/www.ceicdata.com\/en\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.ceicdata.com\/en<\/a>, accessed August 2025. Author\u2019s estimates based on 2015\u20132021 trend.<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-bpq111607\"><a target=\"_blank\" href=\"#_ftnref37\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[37]<\/a>\u00a0\u201cCommuniqu\u00e9 of the Fifth National Economic Census (No. 2) \u2013 Basic Situation of Business Units,\u201d\u00a0\u00a0National Bureau of Statistics, December 26, 2024, <a target=\"_blank\" href=\"https:\/\/www.stats.gov.cn\/sj\/zxfb\/202412\/t20241226_1957897.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.stats.gov.cn\/sj\/zxfb\/202412\/t20241226_1957897.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-6anio1614\"><a target=\"_blank\" href=\"#_ftnref38\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[38]<\/a>\u00a0\u201cThe Political Bureau of the CPC Central Committee Held a Meeting and Decided to Convene the Fourth Plenary Session of the 20th CPC Central Committee,\u201d Xinhua News Agency,\u00a0July 30, 2025, <a target=\"_blank\" href=\"https:\/\/www.gov.cn\/yaowen\/liebiao\/202507\/content_7034454.htm\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.gov.cn\/yaowen\/liebiao\/202507\/content_7034454.htm<\/a>;\u00a0\u201cThe Political Bureau of the CPC Central Committee Held a Meeting to Analyze and Study the Current Economic Situation and Economic Work,\u201d Xinhua News Agency,\u00a0April 25, 2025,<a target=\"_blank\" href=\"http:\/\/www.news.cn\/politics\/leaders\/20250425\/1d4e15c97aea42daa29cd95380c0fe13\/c.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">http:\/\/www.news.cn\/politics\/leaders\/20250425\/1d4e15c97aea42daa29cd95380c0fe13\/c.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-9d5q61625\"><a target=\"_blank\" href=\"#_ftnref39\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[39]<\/a>\u00a0\u201cLi Qiang Presided over the Ninth Plenary Session of the State Council and Stressed the Need to Consolidate and Expand the Positive Momentum of Economic Recovery and Strive to Complete the Annual Economic and Social Development Goals and Tasks,\u201d Xinhua News Agency,\u00a0August 18, 2025, <a target=\"_blank\" href=\"https:\/\/www.gov.cn\/yaowen\/liebiao\/202508\/content_7037007.htm\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.gov.cn\/yaowen\/liebiao\/202508\/content_7037007.htm<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-8o1v11632\"><a target=\"_blank\" href=\"#_ftnref40\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[40]<\/a>\u00a0\u201cThe Central Urban Work Conference Was Held in Beijing and Xi Jinping Delivered an Important Speech,\u201d Xinhua News Agency,\u00a0July 15, 2025, <a target=\"_blank\" href=\"http:\/\/www.news.cn\/politics\/leaders\/20250715\/628141404d134324af199c1235d29800\/c.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">http:\/\/www.news.cn\/politics\/leaders\/20250715\/628141404d134324af199c1235d29800\/c.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-y37gp1639\"><a target=\"_blank\" href=\"#_ftnref41\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[41]<\/a>\u00a0\u201cChina&#8217;s Monetary Policy Implementation Report for the Second Quarter of 2025,\u201d the People\u2019s Bank of China, August 15, 2025, <a target=\"_blank\" href=\"http:\/\/www.pbc.gov.cn\/goutongjiaoliu\/113456\/113469\/5811138\/index.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">http:\/\/www.pbc.gov.cn\/goutongjiaoliu\/113456\/113469\/5811138\/index.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-9fxy11646\"><a target=\"_blank\" href=\"#_ftnref42\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[42]<\/a>\u00a0\u201cThe CPC Central Committee and the State Council Issued Regulations on Strict Economy and Opposition to Waste in Party and Government Organs,\u201d Xinhua News Agency,\u00a0May 18, 2025, <a target=\"_blank\" href=\"https:\/\/www.gov.cn\/zhengce\/202505\/content_7024131.htm\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.gov.cn\/zhengce\/202505\/content_7024131.htm<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-ch7091653\"><a target=\"_blank\" href=\"#_ftnref43\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[43]<\/a>\u00a0\u201cCN: Govt Revenue and Expenditure: General Public Budget and Fund Budget; Ministry of Finance,\u201d CEIC Database, \u00a0<a target=\"_blank\" href=\"https:\/\/www.ceicdata.com\/en\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.ceicdata.com\/en<\/a>, accessed August 2025. \u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-5ep751660\"><a target=\"_blank\" href=\"#_ftnref44\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[44]<\/a>\u00a0General Office of the State Council, \u201cNotice on Further Strengthening Policy Support for Stabilizing Employment,\u201d\u00a0Guobanfa [2025] no. 25, July 9, 2025, <a target=\"_blank\" href=\"https:\/\/www.gov.cn\/zhengce\/content\/202507\/content_7031215.htm\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.gov.cn\/zhengce\/content\/202507\/content_7031215.htm<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-bj8xw1669\"><a target=\"_blank\" href=\"#_ftnref45\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[45]<\/a>\u00a0Carol Yang, \u201cChina Doubles Down on Consumer Subsidies to Spur Household Spending,\u201d South China Morning Post, August 1, 2025, <a target=\"_blank\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3320426\/china-doubles-down-consumer-subsidies-spur-household-spending\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.scmp.com\/economy\/china-economy\/article\/3320426\/china-doubles-down-consumer-subsidies-spur-household-spending<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-usjyg1676\"><a target=\"_blank\" href=\"#_ftnref46\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[46]<\/a>\u00a0\u201cChina to Issue More Local Government Special-Purpose Bonds in 2025,\u201d Xinhua News Agency, March 5, 2025, <a target=\"_blank\" href=\"https:\/\/english.www.gov.cn\/news\/202503\/05\/content_WS67c7b057c6d0868f4e8f0586.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/english.www.gov.cn\/news\/202503\/05\/content_WS67c7b057c6d0868f4e8f0586.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-iwgeh1683\"><a target=\"_blank\" href=\"#_ftnref47\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[47]<\/a>\u00a0\u201cChina Bolsters Service Consumption, Elderly Care Financial Support via Relending Facility,\u201d Xinhua News Agency,\u00a0May 9, 2025, <a target=\"_blank\" href=\"https:\/\/english.www.gov.cn\/news\/202505\/09\/content_WS681e0867c6d0868f4e8f2651.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/english.www.gov.cn\/news\/202505\/09\/content_WS681e0867c6d0868f4e8f2651.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-ppp0u1690\"><a target=\"_blank\" href=\"#_ftnref48\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[48]<\/a>\u00a0\u201cChina to Recapitalize Four Big Banks With $69 Billion,\u201d Bloomberg,\u00a0March 30, 2025, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-30\/china-state-banks-plan-placements-of-72-billion-to-add-capital?sref=VZPf2pAM\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.bloomberg.com\/news\/articles\/2025-03-30\/china-state-banks-plan-placements-of-72-billion-to-add-capital?sref=VZPf2pAM<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-rity41697\"><a target=\"_blank\" href=\"#_ftnref49\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[49]<\/a>\u00a0People\u2019s Bank of China et al., \u201cGuiding Opinions on Providing Financial Support to Boost and Expand Consumption,\u201d\u00a0June 24, 2025, <a target=\"_blank\" href=\"http:\/\/www.pbc.gov.cn\/goutongjiaoliu\/113456\/113469\/5755355\/index.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">http:\/\/www.pbc.gov.cn\/goutongjiaoliu\/113456\/113469\/5755355\/index.html<\/a>; 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Ding Xuexiang Presided over the Meeting,\u201d China Government Network,\u00a0May 15, 2025, <a target=\"_blank\" href=\"https:\/\/www.gov.cn\/yaowen\/liebiao\/202505\/content_7023898.htm\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.gov.cn\/yaowen\/liebiao\/202505\/content_7023898.htm<\/a>;\u00a0Xinhua News Agency, \u201cLi Qiang Presided over the State Council Executive Meeting to Discuss Implementation of Key Policies and Measures to Strengthen Domestic Circulation, etc.,\u201d China Government Network, July 16, 2025, <a target=\"_blank\" href=\"https:\/\/www.gov.cn\/yaowen\/liebiao\/202507\/content_7032360.htm\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.gov.cn\/yaowen\/liebiao\/202507\/content_7032360.htm<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-zfpmn1759\"><a target=\"_blank\" href=\"#_ftnref56\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[56]<\/a>\u00a0Andrew Batson, \u201cWho Believes in China\u2019s Output Gap?\u201d Gavekal Dragonomics,\u00a0July 30, 2025, <a target=\"_blank\" href=\"https:\/\/research.gavekal.com\/article\/who-believes-in-chinas-output-gap\/\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/research.gavekal.com\/article\/who-believes-in-chinas-output-gap\/<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-0fa491766\"><a target=\"_blank\" href=\"#_ftnref57\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[57]<\/a>\u00a0Ju Li. \u201cDeeply Understand and Comprehensively Rectify \u2018Involutionary\u2019 Competition,\u201d Qiushi, no. 13 (2025): July 1, 2025, <a target=\"_blank\" href=\"http:\/\/www.qstheory.cn\/20250629\/6d682af56d64487f817084e890fbcdfd\/c.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">http:\/\/www.qstheory.cn\/20250629\/6d682af56d64487f817084e890fbcdfd\/c.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-58uc01773\"><a target=\"_blank\" href=\"#_ftnref58\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[58]<\/a>\u00a0\u201cCN: Manufacturing: Loss Amount: YTD; CN: Manufacturing: Total Profit; National Bureau of Statistics,\u201d CEIC Database. 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Colleen Howe, \u201cExclusive: China Polysilicon Firms Plan $7 Billion Fund to Shut a Third of Industry Capacity,\u201d Reuters,\u00a0August 1, 2025, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/climate-energy\/china-polysilicon-firms-plan-7-billion-fund-shut-third-industry-capacity-2025-07-31\/\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.reuters.com\/sustainability\/climate-energy\/china-polysilicon-firms-plan-7-billion-fund-shut-third-industry-capacity-2025-07-31\/<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-r7ld81813\"><a target=\"_blank\" href=\"#_ftnref62\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[62]<\/a>\u00a0\u201cAnnouncement on Publicly Soliciting Opinions on the \u2018Provisions on Preventing the Abuse of Administrative Power to Eliminate or Restrict Competition (Draft for Comment),\u2019\u201d State Administration for Market Regulation, May 16, 2025, <a target=\"_blank\" href=\"https:\/\/www.samr.gov.cn\/hd\/zjdc\/art\/2025\/art_5accd4433d6545039ef995cbcb79a632.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.samr.gov.cn\/hd\/zjdc\/art\/2025\/art_5accd4433d6545039ef995cbcb79a632.html<\/a>; 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National Bureau of Statistics,\u201d CEIC Data, <a target=\"_blank\" href=\"https:\/\/www.ceicdata.com\/en\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.ceicdata.com\/en<\/a>, accessed August 2025.<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-4pn7l1835\"><a target=\"_blank\" href=\"#_ftnref65\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[65]<\/a>\u00a0\u201cCN: Loan: YoY: Local and Foreign Currency: Medium &amp; Long Term: Industrial; People\u2019s Bank of China,\u201d CEIC Data, <a target=\"_blank\" href=\"https:\/\/www.ceicdata.com\/en\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.ceicdata.com\/en<\/a>, accessed August 2025.<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-1xuc71842\"><a target=\"_blank\" href=\"#_ftnref66\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[66]<\/a>\u00a0\u201cLi Qiang Presided over the State Council Executive Meeting,\u201d People\u2019s Daily Online, June 28, 2025, <a target=\"_blank\" href=\"http:\/\/politics.people.com.cn\/n1\/2025\/0628\/c1024-40510546.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">http:\/\/politics.people.com.cn\/n1\/2025\/0628\/c1024-40510546.html<\/a>; \u201cNotice on the Issuance of \u2018Several Policy Measures to Accelerate the Establishment of a Science and Technology Financial System to Effectively Support High-Level Scientific and Technological Self-Reliance,\u2019\u201d\u00a0Ministry of Science and Technology et al., May 13, 2025, <a target=\"_blank\" href=\"https:\/\/www.gov.cn\/zhengce\/zhengceku\/202505\/content_7023765.htm\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.gov.cn\/zhengce\/zhengceku\/202505\/content_7023765.htm<\/a>; Xi Jinping, \u201cFirmly Uphold Confidence to Promote High-Quality Development and Efficient Governance, and Strive to Write a New Chapter in the Central Plains in Promoting Chinese-Style Modernization,\u201d Xinhua,\u00a0May 20, 2025, <a target=\"_blank\" href=\"http:\/\/www.news.cn\/politics\/leaders\/20250520\/96a71b04df9c4830b2e1573ec7a7db01\/c.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">http:\/\/www.news.cn\/politics\/leaders\/20250520\/96a71b04df9c4830b2e1573ec7a7db01\/c.html<\/a>;\u00a0 Party Leadership Group of the National Development and Reform Commission of the Communist Party of China, \u201cAccelerate the Construction of a New Development Pattern,,\u201d Qiushi, no. 14 (2025): July 16, 2025, <a target=\"_blank\" href=\"http:\/\/www.qstheory.cn\/20250714\/8dba75fd43e2443bbd64b3416919cefb\/c.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">http:\/\/www.qstheory.cn\/20250714\/8dba75fd43e2443bbd64b3416919cefb\/c.html<\/a>; \u201cGuiding Opinions on Financial Support for New Industrialization,\u201d People\u2019s Bank of China, Ministry of Industry and Information Technology, National Development and Reform Commission, Ministry of Finance, Financial Regulatory Administration, China Securities Regulatory Commission, and State Administration of Foreign Exchange,\u00a0July 29, 2025, <a target=\"_blank\" href=\"http:\/\/www.pbc.gov.cn\/goutongjiaoliu\/113456\/113469\/5801445\/index.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">http:\/\/www.pbc.gov.cn\/goutongjiaoliu\/113456\/113469\/5801445\/index.html<\/a><\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-v416q1866\"><a target=\"_blank\" href=\"#_ftnref67\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[67]<\/a>\u00a0Matthew Reynolds and Matthew P. Goodman, \u201cDeny, Deflect, Deter: Countering China\u2019s Economic Coercion,\u201d\u00a0Center for Strategic and International Studies, March 21, 2023, <a target=\"_blank\" href=\"https:\/\/www.csis.org\/analysis\/deny-deflect-deter-countering-chinas-economic-coercion\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.csis.org\/analysis\/deny-deflect-deter-countering-chinas-economic-coercion<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-zzvsy1873\"><a target=\"_blank\" href=\"#_ftnref68\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[68]<\/a>\u00a0Wang Wentao, \u201cVigorously Promote a High-Level Opening Up,\u201d Qiushi, no. 14 (2025): July 16, 2025, <a target=\"_blank\" href=\"http:\/\/www.qstheory.cn\/20250714\/4b48e4968b5b4ca9afd2016371a0ecec\/c.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">http:\/\/www.qstheory.cn\/20250714\/4b48e4968b5b4ca9afd2016371a0ecec\/c.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-ar19i1880\"><a target=\"_blank\" href=\"#_ftnref69\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[69]<\/a>\u00a0China Customs via Trade Data Monitor, HS 85051110.<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-dwn3r1883\"><a target=\"_blank\" href=\"#_ftnref70\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[70]<\/a>\u00a0\u201cJoint Statement on a United States-European Union Framework on an Agreement on Reciprocal, Fair and Balanced Trade,\u201d European Commission Press Corner,\u00a0August 21, 2025,<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-am4vw1888\"><a target=\"_blank\" href=\"https:\/\/policy.trade.ec.europa.eu\/news\/joint-statement-united-states-european-union-framework-agreement-reciprocal-fair-and-balanced-trade-2025-08-21_en\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/policy.trade.ec.europa.eu\/news\/joint-statement-united-states-european-union-framework-agreement-reciprocal-fair-and-balanced-trade-2025-08-21_en<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-tdkad1891\"><a target=\"_blank\" href=\"#_ftnref71\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[71]<\/a>\u00a0Donald J. 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\u201cNotice on Issuing the Work Plan for Deepening Reform and Innovation in National Economic and Technological Development Zones and Leading High-Quality Development with High-Level Opening Up,\u201d Document No. Shangzihan [2025] no. 132, issued May 21, 2025, Ministry of Commerce of the People\u2019s Republic of China, Department of Foreign Investment, May 23, 2025, <a target=\"_blank\" href=\"https:\/\/wzs.mofcom.gov.cn\/zcfb\/art\/2025\/art_da2131cdc5fd4cc9987e697c6be9f40f.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/wzs.mofcom.gov.cn\/zcfb\/art\/2025\/art_da2131cdc5fd4cc9987e697c6be9f40f.html<\/a>\u00a0<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-b0odp1950\"><a target=\"_blank\" href=\"#_ftnref77\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[77]<\/a>\u00a0\u201cCN: FDI: RMB: Utilized: YTD: High-Tech Industry; Ministry of Commerce,\u201d CEIC Data, <a target=\"_blank\" href=\"https:\/\/www.ceicdata.com\/en\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.ceicdata.com\/en<\/a>, accessed August 2025.<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-9odbs1957\"><a target=\"_blank\" href=\"#_ftnref78\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[78]<\/a>\u00a0\u201cCN: VAI: YoY: YTD (Real): OW: High-Tech Manufacturing; National Bureau of Statistics,\u201d CEIC Data,\u00a0<a target=\"_blank\" href=\"https:\/\/www.ceicdata.com\/en\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.ceicdata.com\/en<\/a>, accessed August 2025.<\/p>\n<p class=\"LThh9 tL1tz qufKF\" dir=\"auto\" id=\"viewer-x5fvl1965\"><a target=\"_blank\" href=\"#_ftnref79\" rel=\"noopener\" class=\"xoae0 EEzak\" data-hook=\"web-link\">[79]<\/a>\u00a0Gerard DiPippo, \u201cFocus on the New Economy, Not the Old: Why China\u2019s Economic Slowdown Understates Gains,\u201d\u00a0RAND Corporation, February 18, 2025, <a target=\"_blank\" href=\"https:\/\/www.rand.org\/pubs\/commentary\/2025\/02\/focus-on-the-new-economy-not-the-old-why-chinas-economic.html\" rel=\"noopener noreferrer nofollow\" class=\"xoae0 EEzak\" data-hook=\"web-link\">https:\/\/www.rand.org\/pubs\/commentary\/2025\/02\/focus-on-the-new-economy-not-the-old-why-chinas-economic.html<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"[1]\u00a0\u201cProducer Price Indexes; Bank of Japan, Eurostat, National Bureau of Statistics, and U.S. Bureau of Labor Statistics,\u201d CEIC&hellip;\n","protected":false},"author":2,"featured_media":111737,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":["post-111736","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/111736","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=111736"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/111736\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/111737"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=111736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=111736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=111736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}