BEIJING — China is gearing up for the possibility of a trade war with the incoming Trump administration and has already fired a small warning shot, according to the American business community here and the Chinese themselves.
At the World Economic Forum in Davos this week, Chinese President Xi Jinping warned that a trade war would benefit nobody, but at home, his government is quietly getting ready for just that.
“China is threatening to, and is preparing to, take steps in retaliation,” said Lester Ross, chairman of the policy committee of the American Chamber of Commerce in China (AmCham China) at a news conference Wednesday to launch the group’s annual survey of business conditions.
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