Trade wars can trigger a new financial crisis
In recent years, the United States managed to alienate even vassals, both political and economic decisions in their favor. A trade conflict with the EU already leads to similar measures from the other side, but China long pondered and estimated loss of 200 billion dollars to endure did not.
For additional restrictions, China’s GDP may lose growth rate from 6.8% to 6.2%, a decline of the Chinese yuan on the domestic market can reach another 5%.
In addition, countries against whom sanctions were imposed, the United States began to unite. Russia has also acceded to the introduction of restrictive duties on US products. Total losses for the United States from these changes will amount to about 500 million dollars, which is quite a bit (about 1% of sanctions from the US), but this is only the first step, i.e. the trading partners expect to manage “with small losses”.
Unfortunately, the US itself has long lost its industrial power, sosredotochit in the financial IT sector and new methods of calculating GDP. Their products are in demand in the pharmaceutical industry and the military imposed contracts for NATO countries, but to create the same damage in economic terms, for Washington only in the financial sector, and this is their Eldorado.
And now there go the gold reserves of the world’s economies, and substitution occurs at the expense of speculative capital. Where it leads, you can look at the example of 2008, but now the crisis will be deeper and the consequences of further development of trade war will affect the entire global economy.
The head of the analytical Department of the company,
“International financial center”