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But some countries, such as Vietnam, likely had little choice but to prioritize the United States, said Zhiwu Chen, a professor of finance at the University of Hong Kong. He noted how Vietnam had reoriented its economy around attracting American and other foreign brands to manufacture there. “They don’t really have a lot of leeway to take China’s side and offend the U.S.,” he said.
U.S. President Trump recklessly initiated a tariff war against the world, disrupting the global economic landscape. Why does Trump, with his 'professional' background, insist on waging a tariff war that violates economic principles? Will it solve America's trade deficit issue? What profound impacts will it have on China's industrial development?
US President Donald Trump’s latest tariff hikes have intensified global trade tensions, reflecting the US President’s economic pressure tactics and long-term strategic goals. Professor Zhiwu Chen, Chair Professor of Finance at HKU Business School explained that “Trump sees tariffs as both a strategic tool for domestic restructuring and a bargaining chip in international negotiations.” He further commented that Trump’s approach was not only about restoring America’s past revenue position but also about reshaping the power dynamics shaping global trade. Prof. Chen believes China should stay committed to openness and a rules-based global order. He said, “China should continue to safeguard the authority of international institutions like the UN and WTO, maintain friendly economic ties, and strengthen its domestic resilience.” Looking ahead, Prof. Chen expected global trade to shift towards regional alliances, with increasing fragmentation in global governance.
US President Donald Trump’s latest tariff hikes have intensified global trade tensions, reflecting the US President’s economic pressure tactics and long-term strategic goals. Professor Zhiwu Chen, Chair Professor of Finance at HKU Business School explained that “Trump sees tariffs as both a strategic tool for domestic restructuring and a bargaining chip in international negotiations.” He further commented that Trump’s approach was not only about restoring America’s past revenue position but also about reshaping the power dynamics shaping global trade. Prof. Chen believes China should stay committed to openness and a rules-based global order. He said, “China should continue to safeguard the authority of international institutions like the UN and WTO, maintain friendly economic ties, and strengthen its domestic resilience.” Looking ahead, Prof. Chen expected global trade to shift towards regional alliances, with increasing fragmentation in global governance.
US President Donald Trump’s latest tariff hikes have intensified global trade tensions, reflecting the US President’s economic pressure tactics and long-term strategic goals. Professor Zhiwu Chen, Chair Professor of Finance at HKU Business School explained that “Trump sees tariffs as both a strategic tool for domestic restructuring and a bargaining chip in international negotiations.” He further commented that Trump’s approach was not only about restoring America’s past revenue position but also about reshaping the power dynamics shaping global trade. Prof. Chen believes China should stay committed to openness and a rules-based global order. He said, “China should continue to safeguard the authority of international institutions like the UN and WTO, maintain friendly economic ties, and strengthen its domestic resilience.” Looking ahead, Prof. Chen expected global trade to shift towards regional alliances, with increasing fragmentation in global governance.
US President Donald Trump’s latest tariff hikes have intensified global trade tensions, reflecting the US President’s economic pressure tactics and long-term strategic goals. Professor Zhiwu Chen, Chair Professor of Finance at HKU Business School explained that “Trump sees tariffs as both a strategic tool for domestic restructuring and a bargaining chip in international negotiations.” He further commented that Trump’s approach was not only about restoring America’s past revenue position but also about reshaping the power dynamics shaping global trade. Prof. Chen believes China should stay committed to openness and a rules-based global order. He said, “China should continue to safeguard the authority of international institutions like the UN and WTO, maintain friendly economic ties, and strengthen its domestic resilience.” Looking ahead, Prof. Chen expected global trade to shift towards regional alliances, with increasing fragmentation in global governance.
US President Donald Trump’s latest tariff hikes have intensified global trade tensions, reflecting the US President’s economic pressure tactics and long-term strategic goals. Professor Zhiwu Chen, Chair Professor of Finance at HKU Business School explained that “Trump sees tariffs as both a strategic tool for domestic restructuring and a bargaining chip in international negotiations.” He further commented that Trump’s approach was not only about restoring America’s past revenue position but also about reshaping the power dynamics shaping global trade. Prof. Chen believes China should stay committed to openness and a rules-based global order. He said, “China should continue to safeguard the authority of international institutions like the UN and WTO, maintain friendly economic ties, and strengthen its domestic resilience.” Looking ahead, Prof. Chen expected global trade to shift towards regional alliances, with increasing fragmentation in global governance.
Prof. Zhiwu Chen, Chair Professor of Finance at HKU Business School, commented that, “At the end of the day the reality is that the private business sector in China is only of value when the Chinese Government needs some growth or needs to stabilize the economy".
Chen Zhiwu, chair professor of finance at the University of Hong Kong, said the Hong Kong economy would inevitably be hurt as the US was likely to raise tariffs on Chinese goods and toughen policies on technology transfers and tech investments in China. But he said he also expected the new tariffs to be capped at 60 per cent. The former Yale University professor pointed to one of Trump’s biggest supporters, tech billionaire Elon Musk, as a possible taming force in policymaking related to China during Trump’s second term. He also anticipated more aggressive stimulus efforts from Beijing to counter the greater geopolitical uncertainty. “Thus, on balance, this US election outcome may actually be good for Hong Kong, at least to the extent that it makes the leadership in Beijing reprioritise economic development over politics,” Chen said.
