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The Escalating US-China Trade War Could Become a 'Forever War', Warns Economist Stephen Roach
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#226688e6 ver:0.24

The US-China trade war could become a 'forever war' with dire economic consequences, warns economist Stephen Roach. The trade deficit is largely a result of federal budget deficits, not China's fault. The conflict has diverted trade to higher-cost countries and compromised US green-energy objectives. Meanwhile, the IMF warns that the geopolitical division between China and the West threatens global growth and trade cooperation. Economic fragmentation carries a high cost, and low-income countries would be hit hardest. Pragmatic steps, dialogue, and open communication are needed to prevent the worst outcomes. #TradeWar #GlobalEconomy #Geopolitics...

#newstr #UschinaTradeWar #ChineseEconomy #BidenAdministration #StephenRoach

https://here.news/story/226688e6?ver=0.24