RLK: The GDP per capita has gone up more than 50 times in these 40 years. And so that's number one. But number two is national rejuvenation, national pride. This is what the government and the Party has brought to China in terms of its position in the world. So it cannot back down and look weak in terms of these tariff attacks. But given that, given that environment, the Chinese response is very carefully calibrated.
RLK: China levying tariffs on $60 billion is not dollar for dollar, the way the first $50 billion was. But what it is, in fact, is in proportion — because $60 billion is roughly 40 percent of the roughly $150 billion of the total US exports to China, just as $200 billion is roughly 40 percent of the little over $500 billion of the total China exports to the US.
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Robert Lawrence Kuhn
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