The China-US trade war is bad news for pretty much everyone: IDC

Industries and ICT segments most affected by the trade warThe impact of the trade war on the Chinese economy will directly and indirectly involve almost all industries. The China-US trade war will negatively impact both economies, particularly the Chinese economy in view of its massive trade surplus with the US – and almost no industry will emerge unscathed, whether they’re directly targeted or not, according to analyst firm IDC. “While the China-U.S. trade war has some negative impact on the Chinese economy and the Chinese ICT market, globalization will remain in the mainstream in the long run, and so will China-US complementarity and cooperation, and digital transformation of economy,” said Kitty Fok, managing director of IDC China. Specific to China’s ICT market, the overall growth in 2018 will decline by 0.6 percentage points (from to 9% to 8.4%), with approximately $4 billion of market being affected. Increasing investment in strategic areas at a time when the overall economy is facing challenges will build foundation for future growth.