The Daily How the U.S.-China Trade War Hurts the Rest of the World
8 snips
Aug 27, 2019 
Peter S. Goodman, an economics correspondent for The New York Times, shares insights on the U.S.-China trade war and its global implications. He highlights the rising economic distress felt by countries like Germany, which depend on exports. The podcast touches on President Trump's fluctuating stance towards China and the cautious responses from G7 leaders. The discussion also emphasizes the critical role of independent journalism in uncovering the realities behind trade negotiations and the potential for lasting international consequences.
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G7's Concern Over Trade War
- The U.S.-China trade war significantly impacts the global economy, particularly the G7 nations.
- These nations, as major developed economies, see themselves as stewards of the global economy and are concerned about the trade war's ripple effects.
Germany's Recession Risk
- Germany's economy is heavily reliant on exports, many of which go to China.
- The trade war slows China's growth, reducing its demand for German goods, thus potentially pushing Germany into recession.
Impact on Large vs. Small Economies
- Larger economies like the U.S. and China have large domestic markets to cushion the blow of global trade disruptions.
- Smaller, export-dependent countries like Germany are more vulnerable to these disruptions.