Trump's Lack of Strategic Vision is Going to Make China Great Again
— December 23, 2019
By Nouriel Roubini
The good news for investors is that the deal averted a new round of tariffs that could have tipped the US and the global economy into recession and crashed global stock markets. The bad news is that it represents just another temporary truce amid a much larger strategic rivalry encompassing trade, technology, investment, currency and geopolitical issues. Large-scale tariffs will remain in place and escalation may well resume if either side shirks its commitments.
As a result, a broad Sino-American decoupling will likely intensify over time and is all but certain in the technology sector. The US regards China’s quest to achieve autonomy and then supremacy in cutting-edge technologies – including artificial intelligence, 5G, robotics, automation, biotech and autonomous vehicles – as a threat to its economic and national security. Following its blacklisting of Huawei (a 5G leader) and other Chinese tech firms, the US will continue to try to contain the growth of China’s tech industry.
Read the full article in The Guardian.
Nouriel Roubini is a Professor of Economics and International Business and the Robert Stansky Research Faculty Fellow.