{"title":"Looking Before Leaping: Can We Afford an Unlimited Trade War Between the World’s Two Largest Economies","authors":"Xihui Sun","doi":"10.1177/0974910119896646","DOIUrl":null,"url":null,"abstract":"The Trump administration launched the world’s biggest trade war with China, which is suggestive of its distinctive governing philosophy. Consequently, the trade war with China is not only part of the US policies on China, but also part of the Indo-Pacific strategy of the administration, with aims of both money and containment. In response, China has adopted both hardline and moderate approaches, resolutely fighting back the pressure from the USA and exhibiting restraint in retaliation. However, China and the USA have their own advantages, and the end of the trade war depends on the resolution, willpower, and judgment of the situation. Presently, China is the only country that has the ability and resolution to stand up to the USA to stay the course in the trade war; China’s perseverance and retaliation to the US’ extreme pressure in the trade war temporarily eased the pressure on other countries from the USA. The trade war is damaging to the world and will cause more harm if it goes unchecked. The USA dominates the direction of Sino-US relations, but China’s response also shapes Sino-US relations to a certain extent.","PeriodicalId":37512,"journal":{"name":"Global Journal of Emerging Market Economies","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974910119896646","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Global Journal of Emerging Market Economies","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1177/0974910119896646","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}
引用次数: 1
Abstract
The Trump administration launched the world’s biggest trade war with China, which is suggestive of its distinctive governing philosophy. Consequently, the trade war with China is not only part of the US policies on China, but also part of the Indo-Pacific strategy of the administration, with aims of both money and containment. In response, China has adopted both hardline and moderate approaches, resolutely fighting back the pressure from the USA and exhibiting restraint in retaliation. However, China and the USA have their own advantages, and the end of the trade war depends on the resolution, willpower, and judgment of the situation. Presently, China is the only country that has the ability and resolution to stand up to the USA to stay the course in the trade war; China’s perseverance and retaliation to the US’ extreme pressure in the trade war temporarily eased the pressure on other countries from the USA. The trade war is damaging to the world and will cause more harm if it goes unchecked. The USA dominates the direction of Sino-US relations, but China’s response also shapes Sino-US relations to a certain extent.
期刊介绍:
Global Journal of Emerging Market Economies is a peer-reviewed journal. The aim of the journal is to provide an international platform for knowledge sharing, discussion and networking on the various aspects related to emerging market economies through publications of original research. It aims to make available basic reference material for policy-makers, business executives and researchers interested in issues of fundamental importance to the economic prospects and performance of emerging market economies. The topics for discussion are related to the following general categories: D. Microeconomics E. Macroeconomics and Monetary Economics F. International Economics G. Financial Economics H. Public Economics I. Health, Education, and Welfare J. Labor and Demographic Economics L. Industrial Organization O. Economic Development, Innovation, Technological Change, and Growth Q. Agricultural and Natural Resource Economics • Environmental and Ecological Economics R. Urban, Rural, Regional, Real Estate, and Transportation Economics Additionally, the journal would be most interested to publish topics related to Global Financial Crisis and the Impact on Emerging Market Economies Economic Development and Inclusive Growth Climate Change and Energy Infrastructure Development and Public Private Partnerships Capital Flows to and from Emerging Market Economies Regional Cooperation Trade and Investment and Development of National and Regional Financial Markets The Belt and Road Initiative.