The US and China now approach the cliff of a real trade war. Tariffs in the hundreds of billions of dollars have been announced, but not yet implemented except for $50 billion on carefully selected mutual imports designed to have minimal impact on the economies. That is about to change come January 1, 2019. As the date approaches the China-US pending trade war is taking on elements and appearances of a potential new cold war as well; Technology issues–in particular those impacting new generation military technologies–have come to the fore in the US-China trade negotiations (under the cover phrase of ‘intellectual property’). US hardliners in the negotiations (Lighthizer, Navarro, Bolton) are closely allied with the Pentagon, military contractors, and US companies being challenged by China’s rising competence in AI, cybersecurity, and 5G wireless–i.e. the key military technologies of the future.
The upcoming G20 summit in Buenos Aires will include a meeting one on one between Trump and China’s president, Xi. Will they come to an agreement in principal and turn from the pending trade war and another cold war? Or will the meeting result in a general ‘look good’ announcement for the media as they fail to agree, and as the anti-China neocon-Pentagon-military industrial complex in the US prevail and drive the US in 2019 toward a bona fide trade war and Cold War 2.0 between the US and China.
Listen to my last week’s Alternative Visions radio show of November 26, 2018 during which I dedicate the show to discussing the issues. And listen to my upcoming next show where the Buenos Aires G 20 meeting will be the subject.
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Jack Rasmus is author of the forthcoming 2019 book, ‘The Scourge of Neoliberalism: US Policy from Reagan to Trump’, Clarity Press, and the recently published ‘Central Bankers at the End of Their Ropes: Monetary Policy and the Coming Depression’, Clarity 2017. He hosts the Alternative Visions radio show on the Progressive Radio Network. His twitter handle is @drjackrasmus and his website, http://kyklosproductions.com. He is a frequent contributor to Global Research.