Trump has gifted China with the strategic opportunity to champion economic liberalization and free trade, giving President Xi Jinping a big helping hand to make China great again.
Share to facebookU.S. President Donald Trump speaks during a campaign rally at the Four Seasons Arena on July 5, 2018 in Great Falls, Montana.
The trade war has accelerated several trends that had been underway for some time. Consider the following. Asia’s market size for imports reflects its vibrant and growing consumer markets that are increasingly prosperous. Measured by estimates of private consumer expenditure, Asia today is just about as big as the U.S. The big difference is, however, that private consumer expenditure in Asia is growing at twice the speed compared with the U.S. If Japan is excluded, Asia’s growth is three times faster. Even more striking is China where private consumer expenditure has been growing at an average of 13.
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