That would be assuming that China can't redirect trade to other countries. For example, Russia didn't have a permanent GDP drop after the trade war with the west.
There's no other country on Earth that will buy 30,000 metric tons of Funkopops per year. That 3% of factories will have to be rebuilt from the ground up.
Idk, bigger shops in Poland have a lot of this shit and though i never even seen anyone looking at it, people must be buying it because otherwise they would flied off the benches fast. Then again i bet it would disappear fast if the ongoing US cultural invasion stopped.
In the sense that the economy would have to make it up elsewhere rather than a temporary decline in trade volume.
Obviously there are confounding factors (internal knock on effects would increase it, pivoting to non US sources or middlemen would decrease it) and I don't have anywhere near enough knowledge to work through that. But even if it took 3 years to fully recover and pivot, that's three years with GDP growth essentially cut by a third. In the west that same cut would tip most economies into deep recession.
A permanent 3% drop in GDP is definitely gonna hurt, but yeah it's not collapse grade.
That would be assuming that China can't redirect trade to other countries. For example, Russia didn't have a permanent GDP drop after the trade war with the west.
There's no other country on Earth that will buy 30,000 metric tons of Funkopops per year. That 3% of factories will have to be rebuilt from the ground up.
:)
Idk, bigger shops in Poland have a lot of this shit and though i never even seen anyone looking at it, people must be buying it because otherwise they would flied off the benches fast. Then again i bet it would disappear fast if the ongoing US cultural invasion stopped.
permanent?
In the sense that the economy would have to make it up elsewhere rather than a temporary decline in trade volume.
Obviously there are confounding factors (internal knock on effects would increase it, pivoting to non US sources or middlemen would decrease it) and I don't have anywhere near enough knowledge to work through that. But even if it took 3 years to fully recover and pivot, that's three years with GDP growth essentially cut by a third. In the west that same cut would tip most economies into deep recession.