German economist: China has an advantage in the Sino-US trade dispute

According to ChainCatcher, citing a CCTV report, as referenced by Jin Shi Data, Clemens Fuest, director of the Center for International Economics at the Ifo Institute, recently told the media that China has an advantage in the current China-US trade dispute because China's trade dependence on the US is not strong, and China can redirect its exports to the US to other markets. The Ifo Economic Research Institute calculated that if the China-US trade dispute continues for a long time, China's exports to the US may drop by 80%, but China's overall foreign trade would only decrease by about 10%. Dennis Snower, chief economist at the Kiel World Economic Institute, stated that the United States is isolating itself from the global trade system, while China continues to open its market to the world, which also puts China in a favorable position in the China-US trade dispute.