Many Chinese traders are not afraid of the US president and his 145% tariffs. Rather, they have sparked a wave of online Chinese nationalists to produce offensive memes in several popular movies and reels, some of which feature tech tycoon Elon Musk working on iPhone and shoe manufacturing lines, Vice President JD Vance, and an AI-generated President Trump.
President Xi Jinping has made it clear that Beijing will not back down, and China is not acting like a country in economic hardship. China has been developing through hard labour and self-reliance for more than 70 years. This month, he declared, “It has never depended on anyone’s gifts and is not scared of any irrational suppression.”
His optimism may stem in part from the fact that China’s reliance on US exports has significantly decreased during the past ten years. In reality, however, Trump’s threats and tax increases are exacerbating pressure points already present in China’s faltering economy. Chinese citizens are just not spending as much as their government would want due to a housing problem, rising job uncertainty, and an ageing population.
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