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U.S.-initiated trade war negatively affects developing countries: expert

(Xinhua)    14:29, July 19, 2019

CAIRO, July 18 (Xinhua) -- The China-U.S. trade dispute has negative effects on developing countris including Egypt, said an Egyptian economist here on Thursday.

Ahmed al-Sayyid al-Naggar, an economic expert of Al-Ahram Center for Political and Strategic Studies (ACPSS) and former CEO of state-run Al-Ahram Foundation, made the remarks at a symposium titled "China-U.S. trade dispute and Egypt's position on it" held in the Chinese Cultural Center.

The China-U.S. trade conflict will affect not only the economic growth of China and the United States and but also their imports from developing countries, he said.

"So, developing countries will be harmed by a trade conflict initiated by the U.S. administration in which they are not involved," he added.

Noting that Egypt has massive incentives for foreign investors, Naggar said that his country expects China, "with its exceptional status in Egypt, to pump more investments in the Egyptian market as part of the alternative markets for the Chinese investments."

The U.S-initiated trade war against China will harm the U.S. consumers due to rising prices of Chinese commodities, he said.

The symposium was attended by Shi Yuewen, the Chinese cultural counselor to Egypt and head of the Chinese Cultural Center in Cairo, as well as Egyptian university professors, experts, researchers and other visitors.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Liang Jun, Bianji)

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