electronics and machinery. Foreign firms produce more than half of electronics and machinery in China and if the war continues, these firms will face serious economic threats indirectly affecting their home countries\u2019 economies.<\/span><\/p>\nAs a reaction to the trade war, the global stock market has already shown signs of collapse. The Asian stocks are performing poorly, Japan\u2019s Nikkei fell by 0.29% and the European Index fell by 1.2% and it\u2019s predicted that the trade-war will cost the global economy a whopping $600 billion. There are no chances of this trade war to end, at least, not in near future and if that\u2019s the case, the global economy is on the risk of the crisis that has been lingering from a few years.<\/span><\/p>\n <\/p>\n
The Way Forward<\/h2>\n
The Belt and Road Initiative adopted by the Chinese government involves the development of <\/span>infrastructure and investments in 152 countries and international organizations in Europe, Asia, Middles East, Africa, and the Americas. The project will not only increase China\u2019s power in the global economy but uplift the economies of all the countries involved in it by strengthening the regional connectivity. The slowing Chinese economy due to its trade war on the U.S. has put pressure on the government to expand their markets for consumers and investors. And given the track records of China in addressing the economic crisis, the growth of the Chinese economy is expected to increase hence creating new opportunities for the global economy.<\/span><\/p>\n <\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
A few decades ago, no one could have imagined that China would rise to power the way it has. And today, no one can challenge China\u2019s superior position in the economic landscape. For around a century, the United States was the largest economy in the world.\u00a0 In 2015, China became the largest economy in terms […]<\/p>\n","protected":false},"author":678,"featured_media":25693,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","om_disable_all_campaigns":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false},"categories":[2],"tags":[60],"yst_prominent_words":[1792,3796,3797,1805,3368,3370,2282,3367,3799,3372,2273,2104,3371,3366,3795,3373,3369,3365,3798,2018],"acf":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.escapeartist.com\/wp-content\/uploads\/2019\/06\/Chinas-growth-on-the-world-stage-is-staggering-.png","_links":{"self":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/25479"}],"collection":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/users\/678"}],"replies":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/comments?post=25479"}],"version-history":[{"count":20,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/25479\/revisions"}],"predecessor-version":[{"id":37703,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/25479\/revisions\/37703"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/media\/25693"}],"wp:attachment":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/media?parent=25479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/categories?post=25479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/tags?post=25479"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/yst_prominent_words?post=25479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}