31 / 12 / 2019
Huiyao Wang : US-China trade war 'unprecedented' and 'alarming'
Interview with AI Jazeera :President of Center for China and Globalization discusses the US-China trade war and the prospect of a global recession.
Click for interview video
[ YouTube: https://t.co/zpvG7Nebnw] |
In early 2018, a US-China trade war broke out with the two countries eventually imposing tariffs worth billions of dollars on each others' imports.
As tensions between the world's two biggest economies continue, analysts warn of potential harm to the global economy.
The IMF predicts that US-China trade tensions will have reduced global GDP by 0.8 percent by the beginning of next year, contributing to slowed global economic growth, which stands at 3 percent for 2019.
Huiyao Wang, the founder and president of the Center for China and Globalization, agrees the trade war "certainly is a big deal" for China, calling the situation "unprecedented".
"China and the US relations this year is exactly 40 years of diplomatic ties," he says.
"China ... largely opened up to the US and actually, for the last four decades, there's bumps, there's up and downs, but not as big a surprise as I expect at this one."
As tensions between the world's two biggest economies continue, analysts warn of potential harm to the global economy.
The IMF predicts that US-China trade tensions will have reduced global GDP by 0.8 percent by the beginning of next year, contributing to slowed global economic growth, which stands at 3 percent for 2019.
Huiyao Wang, the founder and president of the Center for China and Globalization, agrees the trade war "certainly is a big deal" for China, calling the situation "unprecedented".
"China and the US relations this year is exactly 40 years of diplomatic ties," he says.
"China ... largely opened up to the US and actually, for the last four decades, there's bumps, there's up and downs, but not as big a surprise as I expect at this one."
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