Trade

China’s rise and the threat of a new cold war

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The phenomenal growth of Chinese military power is challenging the post-war hegemony in the Pacific, but it remains dependent on the US for its future economic stability, writes Adrian Budd

The Phase One Trade Deal signed by Donald Trump and Chinese Vice Premier Liu He in January marked a cease-fire in the twoyear tariff war between the US and China, the world’s major economic powers. The US reduced tariffs on certain Chinese exports while China agreed to increase imports from the US and improve protection of US intellectual property rights. Since then US-China relations have unravelled rapidly and are at their lowest ebb since the Tiananmen Square massacre in 1989.

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