Gether to influence the behaviour of the people and

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gether to influence the behaviour of the people and government in China in their pursuit of personal well - being or the national goal of economic growth. Specifical- ly, there are five factors: - Immense size of China s population and market. The homogeneity of its society and its ethnic composition. The secularized values of its people. The abundance and high quality of its human capital. The intervention and strategizing of the state that combine to propel and sustain China s economic growth. What is unique to China is that all these five factors exist there simultane- ously, and all of them have their roots in Chinese cultural traditions or historical legacies before the Communist Revolution in 1949. China s huge population and the immensity of its domestic market allow for the growth of all sectors of manufacturing and the emergence of thousands of industrial clusters throughout the country. These, coupled with the abundant supply of a well - educated, hardworking labour force and the unusual stability of a homogeneous society, explain China s unparalleled attractiveness to investors home and abroad. The central government s implementation of long term growth plans and its massive investment in infrastructural networks further contribute to China s global competitiveness. It is the functioning of all these factors that propels the phenomenal growth of the Chinese economy. 16 16. Ibid.
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US - CHINA Trade War: Analyses of Deeper Nuances and Wider Implications 18 View from China China is a hard - nosed global player, pursues its national interest vigorously. They've taken a non - ideological approach to economics over the last few decades, picking market based tools and government policies to their advantage. China s Ministry of Commerce made the Chinese position very clear. It said, We do not want to fight, but we are not afraid to fight a trade war. The Chinese side will fol- low suit to the end and will not hesitate to pay any price and will definitely fight back. It must take a new comprehensive response and firmly defend the interests of the country and the people. 17 There is a school of thought that the new tariffs will hardly send China into an economic tail - spin. China s more than $13 trillion economy exported $2 trillion in 2016. The tariffs will adversely affect some businesses and industries, but their total value (25 percent of between $50 billion and $65 billion) represents only about 2.5 percent of China's overall exports to the US. China is at the end of the Asian supply chain. Many of the goods it exports, particularly consumer goods, contain a substantial amount of intermediate products from elsewhere in the re- gion that Chinese companies then assembled into a finished product.
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