US expert: China will win the trade war
Updated: 2018-08-20 17:09
In an opinion piece published by the New York Times on Aug 8, Mary Lovely, a professor of economics at Syracuse University said, if jobs and wealth are the metric for “winning the trade war”, China, not the United States, will emerge the victor.
“China will win because it is playing this game more skillfully. The tariffs imposed by the US will mostly be paid by American companies and consumers, while China is retaliating with moves that soften the blow for companies in China, including those that are foreign-owned,” she said.
White House’s tariff strategy is certain to backfire, Lovely said, because “the tariffs imposed by the Trump administration that are directed at China actually affect many American (and European) companies that own factories in China”.
In an opinion piece published by the New York Times on Aug 8, Mary Lovely, a professor of economics at Syracuse University said, if jobs and wealth are the metric for “winning the trade war”, China, not the United States, will emerge the victor.
“China will win because it is playing this game more skillfully. The tariffs imposed by the US will mostly be paid by American companies and consumers, while China is retaliating with moves that soften the blow for companies in China, including those that are foreign-owned,” she said.
White House’s tariff strategy is certain to backfire, Lovely said, because “the tariffs imposed by the Trump administration that are directed at China actually affect many American (and European) companies that own factories in China”.
