Reference Message Network reported on April 14 that the Tokyo Shimbun of Japan dated April 12 published a report titled "‘The Endurance Race Favors China,' What is the Reason for This Confidence...". The report said that as the tariff war between the US and China escalated, American consumers were increasingly worried about rising prices, in stark contrast to Chinese people who remained calm. Part of the reason lies in the fact that China does not rely on the US for essential items including food, and government funds play a supporting role in the stock market.

US President Trump imposed a 125% "reciprocal tariff" on China on the 10th. Combined with the 20% tariffs launched in February and March, the total tariff rate on Chinese goods has reached 145%.

The report noted that against this backdrop, Chinese people have shown confidence in their country's economic development. Mr. Liu, who runs an information technology company in Beijing, said: "It doesn't affect our lives much. China's supply chain is complete and highly resilient." Bank clerk Mr. Wang believed: "Domestic products can replace most American products."

The report stated that China has a sound management mechanism, and the government regulates the circulation of food and other items closely related to people's livelihoods, making it less likely for sharp price fluctuations to occur.

In the face of significant global stock market fluctuations, China, with the so-called "national team" government funds at its center, has had public institutions and private sectors work together to prop up the stock market, alleviating public unease.

According to reports, Beijing diplomats believe that in the endurance race between China and the US, China holds an advantage.

Bloomberg News website reported on April 11 that both countries are embarking on another costly trade war. A notable difference seems to be public support. Simply put, China has public support. The Trump administration does not enjoy as much public support.

The most striking sign that the US does not fully agree with President Trump's strategy is that Wall Street giants such as Jamie Dimon, CEO of JPMorgan Chase, and Bill Ackman, founder of Pershing Square Capital Management, have questioned the comprehensive tariffs imposed by Trump on various countries.

Ackman, a supporter of Trump, said that the US faces the risk of an "economic nuclear winter of its own making." This phrase summarizes the sudden pessimism many people feel about the future.

The report noted that these concerns intensified with the stock market crash and predictions of an economic recession. To make matters worse for Trump, earlier protests erupted across the US against his efforts to reduce the size of the government and what some perceive as infringements on civil rights.

The report observed that the Chinese government's strategy appears to enjoy fairly widespread support, which can be attributed to the commitment to "fight until the end."

Li Chong (surname), a 35-year-old logistics manager at a gaming company in Shanghai, when talking about the impact of the tariff shock, said: "So far, we are not angry but rather treat it as a joke."

He said that people "believe the Chinese government will find ways to boost domestic demand" to help mitigate losses.

Meng (surname), a businesswoman in her 30s, said that because Trump has angered many countries, "China is not alone."

The report noted that this unity can also be seen on Chinese social platforms.

There are many reasons for this anti-American sentiment, which will serve as a strong backing for Chinese officials in the trade war.

The report pointed out that another reason why the Chinese public has stood by the state so far is that they have seen how the government helped investors before stock selling became as severe as in the US.

The report concluded that there is currently a strong belief within China that the government has the means to prevent the worst-case scenario from happening at least.

People in China and elsewhere know that the trade dispute with the US will take time to resolve. (Translated by Wang Haifang and Ma Xiaoyun)

Original source: https://www.toutiao.com/article/7492998389857927714/

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