Customers buy pork imports at a supermarket in Taiyuan, Shanxi Province. (File photo/China News Service)
(ECNS) - Sino-U.S. trade friction unilaterally provoked by the United States will have an impact on the economies of both countries, said Mao Shengyong, spokesperson for the National Bureau of Statistics.
Many other countries will also be affected because the world economy is integrated in a globalized industrial chain, so bilateral trade fiction will affect the recovery of the global economy and the overall growth in world trade, said Mao.
He added that the price of imported soybeans may increase to some extent and that will bring about some changes to the price of soy products. But the influence on the consumer price index (CPI) will be limited due to their relatively small weight.
In the first half of this year, the main indicators of China's economic growth were generally stable and the impact from trade friction on the country was relatively limited, said Mao, adding it remains unclear what the impact will be in the second half of the year.
The CPI in the second half of the year is expected to continue the trend of moderate increases, said Mao.
