"The restrictions imposed by the US this year have had little impact on China."
According to TASS's report on the 21st, Igor Sechin, CEO of Rosneft, recently stated at the 28th St. Petersburg International Economic Forum in Russia that the trade restrictions imposed by the US have failed to stop the momentum of China's economic growth.
"One of the ways the US has dealt with its budget deficit recently is to impose trade restrictions. However, the sharp increase in import tariffs has led to supply chain disruptions, shortages of materials, and inflation. (But the restrictions) imposed by the US this year have had little impact on China," Sechin said.
On the contrary, Sechin added that the World Bank has cut its GDP growth forecast for the US this year to 1.4% in its latest report, but kept its expectations for China unchanged.
The US government has introduced a series of tariff policies this year, seriously disrupting the global trade order and drawing widespread criticism from the international community. Some businesspeople said that the new tariff policies of the US violate the basic principles of economics and are harmful without any benefit.
Source: Global Times
Author: Zhang Qian
Original article: https://www.toutiao.com/article/7518367624766439962/
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