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Fallout from US-China trade conflict could be ‘even worse’ than WWI, Kissinger says

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November 22, 2019

BEIJING — The close economic and financial ties between the U.S. and Chinacreate potentially greater risks for America’s global clout if the two countries separate further.

“We are still in the foothills of a Cold War,” Henry Kissinger, former U.S. Secretary of State, said Thursday at Bloomberg’s New Economy Forum in Beijing.

Rivalry with China has not escalated to the same level the United States had with the Soviet Union, “but we also don’t have forward negotiations to reduce the political conflict,“ Kissinger said.

Trade tensions between the U.S. and China escalated in the last year, bringing years of growing American concerns against the Chinese Communist government to the forefront of a global debate. U.S. President Donald Trump’s administration has applied tariffs to billions of dollars’ worth of Chinese goods and put several major Chinese technology companies on blacklists that effectively prevent them from buying from their American suppliers.

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This article was posted: Friday, November 22, 2019 at 6:59 am

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