Showing posts with the label US-China Trade War.

US-China Trade War | Friday, May 20, 2022:

Source: Who Won the U.S.-China Trade War? Bob Davis and Lingling Wei 14-18 minutes Between 2018 and 2020, the U.S. and China fought the biggest trade war since the 1930s, hiking tariffs, upending markets and threatening to plunge the global economy into recession. Since then, the battle has been the subject of dozens of economic studies and lots of political posturing in both countries. Who won? Figuring out the answer is surprisingly complicated and contains important lessons for those tempted to wield tariffs like weapons. Economists routinely say that no one wins a trade war because costs rise on all sides. If that’s the case, the U.S., which started the fight and eventually slapped steep tariffs on three-quarters of everything China sold to the U.S. to force changes in Chinese economic policy, lost by not winning. There is plenty of evidence for a U.S. loss. During a trip to Beijing in May 2

News | Business | US-China Trade War: US-China trade war takes toll on competitiveness

2-3 minutes - Source: BBC Image copyright Getty Images The world's two biggest economies have become less competitive due to their ongoing trade war, which seems to have no short-term resolution in sight. Both China and the US have slipped down the World Competitiveness Rankings for this year. Smaller economies including Singapore, Denmark and Switzerland top the list. The Institute for Management Development (IMD) survey said their handling of the coronavirus pandemic helped strengthen their positions. The US, the world's biggest economy, slipped seven places to 10th, while China fell six places to 20th. The two economic superpowers have been locked in a trade war since 2018 with import taxes (tariffs) imposed on a wide range of goods. The trade war