Description

Some people might believe in the 'Thucydides Trap' that, as a rising power challenges the dominance of an established power, a China-U.S. trade war will be inevitable. Being the largest and the second largest trading nations globally, the U.S. and China are, in fact, each other’s most important partner in trade.

In this book, Lau looks through various economic statistics of the past few decades and shows us that while the real effects of the China-U.S. trade war in 2018 are not negligible, they are relatively manageable for both nations. There is no need to panic despite psychological effects on the Chinese stock markets and on the Renminbi exchange rate. Behind the trade war is the potential economic and technological competition between China and the U.S., which is likely to become the 'new normal'.

It is up to each government battle against the rise of xenophobia, with the facts that China-U.S. economic collaboration is a potentially positive-sum game through better coordination and fully utilising each other’s currently underutilised resources. Balancing China-U.S. trade and enhancing economic interdependence is actually possible.

The China–U.S. Trade War and Future Economic Relations

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£43.66

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Hardback by Lawrence J. Lau

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Some people might believe in the 'Thucydides Trap' that, as a rising power challenges the dominance of an established power,... Read more

    Publisher: The Chinese University Press
    Publication Date: 08/12/2021
    ISBN13: 9789882371125, 978-9882371125
    ISBN10: 9882371124

    Number of Pages: 224

    Non Fiction , Politics, Philosophy & Society

    Description

    Some people might believe in the 'Thucydides Trap' that, as a rising power challenges the dominance of an established power, a China-U.S. trade war will be inevitable. Being the largest and the second largest trading nations globally, the U.S. and China are, in fact, each other’s most important partner in trade.

    In this book, Lau looks through various economic statistics of the past few decades and shows us that while the real effects of the China-U.S. trade war in 2018 are not negligible, they are relatively manageable for both nations. There is no need to panic despite psychological effects on the Chinese stock markets and on the Renminbi exchange rate. Behind the trade war is the potential economic and technological competition between China and the U.S., which is likely to become the 'new normal'.

    It is up to each government battle against the rise of xenophobia, with the facts that China-U.S. economic collaboration is a potentially positive-sum game through better coordination and fully utilising each other’s currently underutilised resources. Balancing China-U.S. trade and enhancing economic interdependence is actually possible.

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