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Tuesday, November 28, 2017

In 6 months, 'trade war' between US and China could explode, warns expert


What direction will relations take between the two world economies - the US and China - in the context of increasing tensions in the Korean peninsula? A former Pentagon official describes the possible scenarios. Graham Allison, who served as special adviser to the US Secretary of Defense during President Ronald Reagan's inauguration, believes the US may increase its pressure on China to contain North Korea.
The former official assumes Washington will implement unilateral trade measures against Beijing "early next year."
At the same time, he notes that "the Chinese government has already announced that it will retaliate if the Trump Administration adopts these unilateral initiatives," Allison told The South China Morning Post.
"So in six months we could find ourselves in a trade war, which would be very damaging for both countries," warned the American politician.
Graham Allison also served as undersecretary of defense under the then Administration of then-US President Bill Clinton. He was also director of the Belfer Center for Science and International Affairs at Harvard University (USA).
In his latest book "Destined for War: Can the US and China Escape Thucydides' Trap?", Allison warns that there is a possibility of a trade war between Washington and Beijing, and reveals what steps must be taken by both to avoid catastrophe.

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