“The trade war is not a ‘trade’ war but the US trying to contain China’s economic development,” Herrero said at the two-day Prime Source Forum (PSF) in Hong Kong, which concluded on April 3.
Speaking on ‘Global growth outlook amid concerns over escalating trade uncertainties’, she said that the pressure is not only from the US but also from the European Union (EU). “Out of the ten key points, there are signs of more difficult trade between the EU and China. The EU is calling on reducing subsidies and more generally, role of state owned enterprises (SOEs), as well as forced technological transfer.”
Herrero, who is also an adjunct professor at the Hong Kong University of Sciences and Technology, has worked in commercial banks, central banks and international organisations, including the International Monetary Fund.
Fibre2Fashion, the global portal for the textiles-apparel-fashion industry, was one of the sponsors of PSF 2019. (RKS)
ALCHEMPro News Desk – India
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