The Intelligence from The Economist Protectionist racket: trade-war rhetoric
May 31, 2019
Simon Rabinovich, Asia economics editor based in Shanghai, and Charles Reid, a transport journalist, dive into the complexities of the US-China trade war. They discuss how escalating tariffs are influencing global nationalism and the implications on both superpowers. Additionally, they analyze Boeing's ongoing struggles with the 737 MAX, the erosion of trust in aviation safety regulations, and the broader ramifications for the industry. The conversation is rounded off with insights from the Venice Biennale, where art addresses pressing issues like climate change and immigration.
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Hardening Rhetoric
- The US-China trade war rhetoric has hardened, particularly on the Chinese side.
- State media promotes nationalistic sentiment with Korean War films and editorials.
China's Balancing Act
- The Chinese government is in a difficult position, needing to appear strong but avoid a complete rupture with the US.
- Trump's attacks on other countries could ease pressure on China.
Trade War Outlook
- The US-China trade war looks set to continue, with escalating costs for both sides.
- A potential meeting between Trump and Xi Jinping at the G20 summit in June could offer a way forward.