Open AccessThe Impact of Sino-US Trade Friction on Car Profits and Countermeasures
Author(s) -
Yu Zhang,
Zheng Bin Tan,
Wenyu Yang
Publication year - 2020
Publication title -
iop conference series. materials science and engineering
Language(s) - English
Resource type - Journals
eISSN - 1757-899X
pISSN - 1757-8981
DOI - 10.1088/1757-899x/768/5/052021
Subject(s) - pace , china , business , government (linguistics) , high tech , recession , industrial organization , international trade , economics , linguistics , philosophy , geodesy , political science , keynesian economics , law , geography
Sino-US trade friction has caused widespread concern. A large number of enterprises have suffered heavy losses in this big country dispute, and there is an urgent need to be able to adapt to the solutions of the current era. With the outbreak of trade friction between China and the United States, the economic situation of the automobile industry in 2018 also showed an overall downturn. Most car companies’ profits were affected. Some enterprises’ economic conditions even showed the first negative growth for years, and some of them were well-known. At present, Sino-US trade friction has had a certain impact on most car companies in China, but this effect is controllable. Some enterprises have realized the continuous increase of profits by improving their own competitiveness and vigorously developing high-tech. Based on this, an early warning mechanism can be constructed to further design a response strategy from the enterprise level and the government level, and further explore whether the strategy is realistic and feasible. Specifically, enterprises must enhance their own development and competitiveness. And they should vigorously develop high-tech and keep up with the pace of the times. That is, adjust the export structure; and the government gives certain policy support to extremely difficult enterprises to help enterprises tide over the difficulties.