The current trade frictions between China and the US are here to stay, for the time being, says renowned economist Arthur Kroeber, author of China’s Economy: What Everyone Needs to Know®. Neither of the two countries will or even can afford to give in to the other, he tells the South China Morning Post.
The South China Morning Post:
Arthur Kroeber, co-founder and research head with China-focused Gavekal Dragonomics, based in Hong Kong, said that deep underlying frictions with China would not quickly go away as long as the US was not completely clear about its objectives.
“The US playbook for this competition is still being written,” he said. “China is in a strong position and will not soon budge on the key issues that anger its trade partners.”…
Gavekal’s Kroeber also ruled out a quick solution to end the friction and expected the economic rivalry to continue “on a high simmer”.
“China will not retreat from its industrial policy goals, and the US will not be fobbed off with the usual concessions”.
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