China has reported robust economic growth for the first three months of the year, with 5.4% expansion. However, a top official warned that US tariffs will have an impact on the country’s economy, citing concerns over long-term growth.
China’s leader, Xi Jinping, is currently in Malaysia as part of a regional tour to strengthen alliances and trading partnerships.
The economic data comes despite ongoing tensions between China and the US, with the latter imposing tariffs on Chinese goods. Small businesses in China have been severely affected by these tariffs, according to reports from the BBC.
Meanwhile, concerns over Trump’s chip manufacturing strategy are also being raised. Despite a push to boost domestic production, some experts question whether this move will ultimately benefit China’s economy or hurt its international trade relationships.
Source: https://www.bbc.com/news/live/ckgej04jpgyt