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Renowned scholar Zheng Yongnian has dismissed the potential impact of imposing 500% tariffs on China, stating that such drastic measures would make “no substantive difference” compared to current levels. In an interview with CGTN, Zheng, dean of the School of Public Policy at the Chinese University of Hong Kong (Shenzhen campus), emphasized that China’s economic resilience has only strengthened after eight years of enduring trade conflicts.
“There’s no difference between 60 percent and 500 percent tariffs,” Zheng asserted, highlighting that China’s economy has adapted and become more robust despite escalating tariffs. He noted that the prolonged trade tensions have pushed China to innovate and diversify its economic strategies, reducing dependency on any single market.
The professor’s comments come amid ongoing discussions about tariff policies and their effectiveness. Over the past eight years, China has faced increasing tariffs on its exports, particularly from developed nations. However, instead of crippling the economy, these challenges have spurred domestic growth and encouraged stronger ties with emerging markets.
Zheng pointed out that the resilience of China’s economy is evident in its continued growth and its pivotal role in global trade. “The Chinese economy has shown remarkable adaptability,” he said. “We have turned challenges into opportunities, fostering innovation and strengthening our position in the global market.”
For many young people in the Global South, China’s experience offers valuable lessons on economic resilience and the importance of adaptability in a changing world. As nations navigate the complexities of global trade, Zheng’s insights underscore the potential to overcome obstacles through strategic planning and innovation.
