[The Point : World Affairs] U.S.-China Trade War Hanging in the Air



the point takes a closer look at some of the ramifications stemming from the prolonged train war between the US and China after multiple negotiations have resulted in breakdowns the two superpowers have failed to reach an agreement to the trade war which broke out in July 2018 due to a terrifying followed by other retaliatory measures the u.s. struck first in May by beginning the process of increasing tariffs on three hundred billion dollars worth of Chinese products and China answered back by announcing it would impose up to twenty five percent tariffs on products worth sixteen billion dollars Trump who isn't fooling any of his punches to get his America first agendas done has made China an emerging economic power a target of his trade protectionism China is subsidizing product so the United States very little of it and if you look at inflation and if you look at pricing it's gone up very little the tariffs are having a devastating effect on China people are fleeing the country with their companies Trump also signed an executive order on May 15 to restrict US firms from trading with par way and is 70 affiliates while China dropped massive quantities of pork purchases one of his major import items from the US as the two sides are showing no size of concessions the trade war is likely to linger a while countries that rely heavily on international trade are bound to suffer most of the partaking nations of the g20 finance ministers meeting in Japan on June night have agreed that the global economy could face a crisis in the aftermath of the trade war that's what you must give your sweet doubled-up someone cheek no children eat your title please you talk kooky this you know I'm not cuckoo sweet time they were you a big chicken haha the most incredible you know robbery I moved eroded oh no too vulgar you don't know who talked to mascara that's will tell of committee know why I do Stewart into still kilometer like Utica ladies at this point neither the u.s. nor China are willing to throw a towel in this gigantic game of chicken and the question is how much damage could it dump on the rest of the world grande stakes game of no you move between Washington and Beijing they're testing each other and staying very resistant so far how do you perceive this very long battle scaling up to a war unfolding in the near future if there's a continuous stalemate here there clearly are severe ramifications temporarily for a couple months few months that might be okay for both superpowers to be able to manage but if it continues to probe for all that then there will be collateral consequences of that stalemate it would affect the economy both economies and it would have reverberations in other economies as well right speaking of other economies we're going to connect to a local expert in Singapore to find out about the impact that they're feeling over there we'll get back to you in a short while professor so we're now going straight to dr. rahul Chaudhary Institute of South Asian Studies at National University of Singapore is with us right now hello there I the prolonged us-china trade war is expected to bring some significant damage to many other nations including your country of course what kind of damage is expected and how is Singapore preparing for it China and the US we the world is bringing some kind of damage not only to US and China but other countries as well and also Mike Singapore Singh is you know Singapore is an export-based economy and a lot of our exports are going to China both mainland China and Singapore your next port it goes to mainland China Hong Kong so if there is a slowdown in Chinese exports Chinese are exporting to different countries including us so obviously our export to China is going to solo because our demand from Chinese importers are coming down so this is thing and another thing when Chinese are using Singapore they are also coming to Singapore Etna is the scene to disperse large numbers between some business work and some other also so these are also coming slowing down this is also a negative effect to the Singapore unique moment and this evil Singaporean Minister for hidden Commerce MPI has also expressed his concern about this ongoing trade you say that there will be significant or significant impact on this thing's well thank you again for your time and insights on the matter we appreciate it so a professor of Parker it looks like this is something that Trump has been planning or at least it was in his back but or since 2014 evidenced by his tweet that time when he clearly indicated China is not a friend of the United States mm-hmm yeah indeed I think there's a bit of a posturing that has to take place there is election year in the United States in 2020 in November and even though the election campaigning process is long it's never too early to campaign for as a president Trump seeks to run for the second term and so there's a bit of a posturing that needs to take place of course from his China standpoint as the proverbial emerged superpower in our time President Xi Jinping likewise needs to be very strong and indicate to the world that he can hand the United States here in this situation the situation put a bump to President Xi Jinping's vision 2025 made in China 2025 it looks like he certainly ones face in terms of coming out on top of this situation yeah indeed he has a strong inclination to remain resolute in his commitment to write out this trade war scuffle that's happening the trade war is not something of a mere skirmish or a mirror a bump or a mere fight there would be series of these trade wars that will be alas into the future I wonder if we are at the peak of the trade war dispute or whether just were just being the stages of the longer trade dispute that extends into other superpower issues of conflict right well let's of this this clash of the tightness will not be prolonged and that they can't find a solution and there might be some opportunities into cracks that we can fill niche markets that we can hug down do yeah I think there is hope I think it's good to hope we shouldn't get our hopes up too much but the g20 for instance is happening at the end of this month and the g20 meeting although it's not specifically for China and for the US it does provide some opportunity and there's a lot of buzz in the media about whether an official meeting will take place between season peeing and President Trump that remains to be seen there's a bit of a chicken fight going on there whether who's who's asking who to meet and who's asking who's going who's gonna come who's gonna not show up etc but the g20 could be an opportunity where they do flesh out some of these things a little bit more in detail and and for the moment that could quiet some of the discussions about whether it's 200 billion dollars or 300 billion dollars more in terrorist that's that's being threatened by the US currently right I like in a big scuffle when two big egos clash there are there is a need for other countries or other members to step in so that they won't have to whisper to them hold me back in the

Author Since: Mar 11, 2019

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