SMU Associate Professor of Finance Fu Fangjian sees both risk and opportunity in the tariff war, which he believes could accelerate China's shift from US-department trade to domestic and diversified markets. As an April 10 meeting, Zhejiang officials pledged support for businesses adapting to these changes. Assoc Prof Fu noted that Zhejiang's entrepreneurial spirit, especially in places like Wenzhou, positions it well for transformation. While some firms-particularly those reliant on the US - may not survive, others are likely to emerge stronger by moving into higher-tech industries.
