(MENAFN) Nearly 78 percent of U.S. businesses examined in a report issued Thursday were confident regarding the business estimate in China, a rate not witnessed since ahead of the trade war.
The American Chamber of Commerce in Shanghai (AmCham Shanghai) in its yearly China Business Report: "five-year optimism levels were almost back to their pre-trade war levels, 2020 revenues exceeded expectations and revenue projections for 2021 are even more upbeat."
That was reiterated by an article by two political scientists released Wednesday in The Washington Post, which deduced that "U.S. tariffs on Chinese goods didn't bring companies back to the United States."
The authors, Jiakun Jack Zhang at the University of Kansas and Somantha A. Vortherms at the University of California at Irvine, stated in a paper quoted by the article that although "the architects of the trade war" supposed that confronted with high prices, U.S. and allied businesses would depart China, tariffs misfired on individual customers and small businesses in the United States.
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