Beijing has used both monetary and fiscal policies to limit the economic damage brought on by elevated U.S. tariffs.
, and delayed the implementation of new tariffs on some products until Dec. 15.
Nevertheless, many economists have said additional tariffs on Chinese goods imported by the U.S. will hurt China's economy. Growth has already slowed down in China, with Beijing saying gross domestic product expanded by 6.2% in the second quarter of this year —Growing U.S.-China tensions, and slowing Chinese and European economies are among the largest risks to global growth in the near term, several economists have said. Those stresses in the world economy could spill over to the U.S.
"I think we have a heightened risk of recession. I think the reason is that we're seeing the intensification of the big drag in the global economy this year: The falling business confidence related to geopolitical concerns, particularly trade conflicts," he said.
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