China's Response to U.S. Tariffs to Be 'Quite Measured,' Professor Lau Says

The video discusses the impact of potential tariffs on Chinese exports to the US, which constitute about 3.5% of China's GDP. It highlights the manageable nature of these tariffs, comparing them to the 2009 Lehman crisis. The initial impact would be on US consumers, with tariffs likely increasing the consumer price index. The video also explores China's measured response, focusing on local impacts in regions like Guangdong and Iowa, and suggests that both countries will not be severely harmed by the trade war.

What percentage of Chinese GDP is represented by exports to the US?

• 1.5%

• 7.5%

• 3.5%

• 13%

Who would be the first to feel the impact of the trade war according to the transcript?

• Vietnamese exporters

• US consumers

• European importers

• Chinese manufacturers

How has the inflation rate in the US been affected by Chinese imports over the last 20 years?

• Remained stable

• Increased by 0.5% per year

• Increased by 1% per year

• Decreased by 1% per year

What is Beijing's approach to the trade war as described in the transcript?

• Increase tariffs on US goods

• Ignore the tariffs

• Escalate the situation

• Respond in a measured way

Which US state might be locally affected by the trade war due to its soybean exports?

• Florida

• Iowa

• Texas

• California