lørdag 7. april 2018

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

At the heart of the intensifying trade dispute between the United States and China is a fundamental question: Which country is more willing to endure short-term pain for the long-term gain of playing a leading role in high-tech industries.

China has embarked on an aggressive and expensive plan to retool its economy for the future as it moves to dominate in robotics, aerospace, artificial intelligence and more. President Trump has said China’s approach relies on unfair and predatory practices, and on stolen American technology. And even as Chinese leaders say they want to avoid a trade war, they are staunchly defending their plans and showing little sign of backing down.