Economic cold war may be coming. And Baroness De Rothschild warns Trump

RT / BATTLE FOR WORLD – September 21, 2018: The article highlights that tit-for-tat tariffs between the world’s two largest economies, China and the United States, may be the beginning of a prolonged economic conflict, according to analysts, adding that each of the two countries pursues its own development.

Tariffs will hit China’s gross domestic product growth by 0.6 percentage points, in a report cited from JPMorgan by CNBC. The report explains that such a slowdown would add to existing negative pressure on the economy due to Beijing’s efforts to reduce reliance on debt, and transition towards consumption-driven growth.

“It won’t be easy,” said Jing Ulrich, managing director and vice chairman of Asia Pacific at JP Morgan Chase. “The road will be bumpy.” During a panel discussion at the World Economic Forum conference in Tianjin, Ulrich said that “Now we need to think about whether this current trade war will turn into an economic cold war.”

(BattleForWorld: The trade feud between China and the United States appears to have been long planned to accelerate the default of the United States economy, to shutdown US military adventurism worldwide. China’s nuclear option awaits and even Baroness De Rothschild has warned Trump that he cannot go up against China.)

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