China's increasingly combative rhetoric with the U.S. and others seem ill-advised if economic stability and a return to growth is the goal amid the coronavirus pandemic.
Demonstrators at a protest against a planned national security law, at a shopping mall in Hong Kong, on May 25, 2020.The world's second-largest economy suspended guidance on its gross domestic product for the first time in 25 years, citing pressures from the coronavirus and trade tensions.
Beijing's policies and rhetoric can put either oil or sand into the gears economic growth. Ideally, oil would be added as conditions begin to slow and perhaps add some sand to slow conditions when they risk overheating. As the global economy moves deeper into recession, even with an ongoing pandemic shutdown, tightened control over Hong Kong and increasingly combative rhetoric with the U.S. and others seem ill-advised if economic stability and a return to growth is the goal.
The pressures are not coming solely from the administration. A new bill just passed in the U.S. Senate would require compliance with U.S. listing regulations or result in delisting from U.S. stock exchanges. This would severely restrict corporate China's access to capital and put further pressure on the Chinese economy.
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