The main battle between the US and China today is for the position of global technology leader. Washington is using the technology sector to bully Beijing in the hope that it will undermine its economic position as the US once managed to do with Tokyo.
Tag: US-China trade war
Judging by the reaction of official Chinese media outlets, Beijing is expecting neither a speedy nor a peaceful resolution to its economic conflict with Washington. Even America has noticed a change in tone to Beijing’s official media position: “China vows ‘people’s war’ as trade fight takes nationalist turn”, writes the […]
The global macroeconomic consequences of the escalating US-China trade war may not, in itself, be that big according to some economists. US traders have remained largely unfazed by the trade war, and few are concerned at this stage about the overall impact on the global economy’s GDP growth.
Trump might even be savvy enough to use the opportunity to promote the narrative that he’s the only one who can protect the country from China, which could strengthen his party’s support in the swing states most affected by Beijing’s policies of luring companies away from America and then implementing retaliatory tariffs.
The US attacks on Germany’s economy are nothing new. But previously those had been limited to just Trump’s words and infamous tweets. Now Washington has moved from words to deeds and seems to mean business, as evidenced by the March tariffs on Chinese goods.
The US seems to be positioning itself as an adversary in a trade war with China, something as unwinnable as North Korea engaging in a nuclear war with the United States.