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Will China’s manufacturing juggernaut run out of road?
Faced with weak demand at home and the threat of tariffs abroad, Beijing is under pressure to rethink its export-driven model.
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Beijing is increasingly dependent on export industries to prop up the world’s second-largest economy.
PHOTO: AFP
Joe Leahy, Tina Hu and Chan Ho-him
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Exporters normally do not welcome news of tariffs. But in the southern Chinese manufacturing heartland of Foshan, Donald Trump’s threat in late November to impose an additional 10 per cent tax on imports from China
Trump had vowed earlier in his re-election campaign to levy 60 per cent tariffs on Chinese imports, a level that would have hit Foshan’s producers of home appliances and fittings hard.
