Prospects and Implications of the US-China Trade War

Abstract

In recent months, trade tensions between Beijing and Washington, as well as a number of other countries, have risen again amid accusations that China concealed the extent of COVID-19 outbreak. At present the escalating confrontation between the United States and China is undoubtedly has affected adversely the economy and trade of not only the two countries, but also the entire world. Besides, there are too many uncertainties in the trade relations between the two countries not least due to the coronavirus pandemic and introduction of new trade tariffs. This article examines the causes of this conflict between the two world leading economies, assesses possible options and prospects for the confrontation and resolution of contradictions. Moreover, the issue of implications of this trade war, in particular for Russia, is considered.