fredag 6. april 2018

U.S. and China Play Chicken on Trade, and Neither Swerves

As the United States and China exchange increasingly antagonistic trade threats, American business leaders, farm groups and some economists worry that President Trump might be going too far. Given the stakes, he may just be getting started.

At the heart of the dispute is a fundamental question: Which of the countries is more willing to endure short-term pain on trade for the long-term gain of playing a leading role in industries like robotics, aerospace, pharmaceuticals, electric cars, artificial intelligence and more. China has embarked on an ambitious and expensive plan to retool its economy for the future and to dominate these industries. Mr. Trump has said that China’s approach relies on unfair and predatory practices, and on stolen American technology. Even as Chinese leaders say they want to avoid a trade war, they are staunchly defending their plans for high-tech sectors, and showing little sign of backing down.