A Chinese Communist Party journal has said that the country may experience near-term pain from trade friction with the United States, including a negative impact on financial stability, but China's stable growth trend would not change.
A commentary published Saturday in the ideological journal Qiushi, or Seeking Truth, warned that trade and economic friction between Washington and Beijing could undermine "China's economic growth, financial stability, trade and investment, employment and people's livelihoods," particularly in industries exposed to tariff action by the United States.
"But at the same time, we must see that the fundamentals of China's economic development have not changed. In particular, China's economic structure has been significantly improved in recent years, which has effectively improved its ability to withstand external shocks."