The Economic ‘Protracted War’ Between The US And China
China and the U.S. have come to a 90-day trade agreement. This was a clear victory in the first battle of the “trade war” for China — as was admitted even in the U.S. media.
As Bloomberg, a fiercely anti-China source, summarised the analysis of the overwhelming majority of Western media: “Xi Jinping’s decision to stand his ground against Donald Trump could hardly have gone any better for the Chinese leader.”
But it would be an error to mistake this decisive victory for China in the first battle with a belief that the U.S. will abandon the economic struggle against China – it will not. This is in economic terms a “protracted war”, not a single battle.