Trade War
Newsletter 295 - March 8, 2026
Welcome to the 295th edition of Trade War.
China announces 4.5-5% GDP target at NPC, its lowest level in decades. No clear path to consumption-driven economy as Beijing trims product trade-in program. And limited “stabilization” goal for ailing property sector suggests China isn’t optimistic about lifting property prices.
Work report calls for end to deflation in 2026, or bringing “price levels back into positive territory.” Report says “security is a prerequisite for development, and development provides a guarantee for security.” And as the Iran war intensifies, China has told its oil refiners to stop exporting diesel and gasoline.
Notable/In depth ~
US must pursue “calibrated coupling,” balancing opportunities & risks with China
Parallel funds excluding some Chinese sectors being created
Trump’s view of international affairs: strong men deserve respect
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