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(August 30, 2019) Superpower rivalry to put region to test

More than 18 months in, the trade war between the United States and China is not having its intended effects. Despite a flurry of US-led tariff hikes on Chinese products followed by China's retaliatory tax increases on American-made goods since January last year, the government of President Donald Trump is not perceived to be winning the trade conflict. China has proved more resilient and resourceful than many had anticipated. What this means is that the trade war is going to last much longer than many had expected. It is also likely to spread to other areas beyond trade and degenerate into a full-fledged non-military war.


All indications point to a gruelling conflict between the two superpowers. The US has suffered a trade deficit with the rest of the world for decades. In the past, Washington willingly underwrote what was necessary for a working international economic system. But under the Trump administration, it has reversed gear and wants payback and reciprocity from other countries. Its biggest worry is China, a rising and rival superpower that enjoys a $375-billion trade surplus with the US, by far the biggest surplus among all countries that sell more to the US than they buy.

www.bangkokpost.com/opinion/opinion/1739115/superpower-rivalry-to-put-region-to-test

 


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