Workflow
人才
icon
Search documents
Tariffs threaten U.S.' services dominance as nations aim to fortify their own industries: Strategist
Youtube· 2025-09-12 08:09
Group 1 - The shift in China's economy towards services is seen as a strategic response to tariffs impacting manufacturing and exports, as services provide a greater jobs multiplier effect [1] - The US has a significant trade deficit in goods but maintains a strong trade surplus in services, indicating a potential loss of competitiveness in services due to tariffs on goods [2] - China is diversifying its exports beyond low-value manufactured goods to include high-tech products, talent, capital, culture, and food, which helps mitigate tariff impacts [4][5] Group 2 - China's exposure to US domestic demand is relatively small, allowing for effective diversification and strengthening in the services sector, as evidenced by Singapore's services sector contributing over 70% to its GDP [6] - The services sector is closely linked to the manufacturing sector, where a downturn in manufacturing can still affect services, albeit to a lesser extent [7]