CEIBS
Professor of Economics and Finance Xu Bin points out that China’s surprising
6.9% growth in 2017 has made it clear that US President Donald Trump’s America
First policy won’t hurt China as much as some may fear. An analysis of the data
shows that the Chinese economy has delinked from the global one, no longer
powered by external forces such as exports and inward FDI. Instead domestic
consumption is the main driving force, pushed along by new technology, a
growing services industry and urbanization. It also helps that China has a
built-in 3S advantage of scale, scope and the newest ‘s’ factor – speed.
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