|S. Rina |||Jan 23, 2017 08:06 AM EST|
(Photo : https://pixabay.com/en/the-chinese-national-flag-flag-china-1752046/) China is preparing for a possible trade war with the US.
China is gearing to retaliate if its trade ties with the United States takes a turn for the worse. US President Donald Trump has maintained his anti-China diatribe. China has taken a firm stand against Trump's rhetoric, which have touched upon subjects ranging from Taiwan sovereignty to currency manipulation.
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China has expressed its keenness to collaborate with the new US government. China said that both countries can work together to resolve their trade issues. China's Commerce Ministry Sun Jiwen said that the country will work towards creating healthy ties with the United States.
"Both sides benefit with cooperation, and both are hurt with conflict." Chinese Foreign Ministry spokeswoman Hua Chunying echoed the similar sentiments, "We look forward to working hard with the new U.S. government, adhering to no clashes and no confrontation," Sun told reporters.
However, the country is also ready to take a tough stance if the situation requires it.
Chen Wenling, chief economist at the China Centre for International Economic Exchanges, an influential think tank with close government ties, said that China will "will fight to the end."
A report released by Eurasia Group earlier this week suggested that China may target sectors which are deemed important to Trump's administration. The report suggested that China may seek alternative suppliers in places such as Latin America and Europe.
China has increased punitive tariff on some products imported from the US including a substance called distillers' dried grains (DDGS). China accounts for nearly 50 percent export of DDGS from the United States.
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