Here’s an outstanding must-read editorial from China influential Global Times. The article dispassionately examines the implications of Trump initiating a trade war against China. The bottom line is that the US will suffer from a global trade war and, of course, it will eventually rebound politically on Trump and his supporters. But it’s worth reflecting on other casualities of a global trade war – the UK is particularly exposed to downside trade war risks because of Brexit uncertainties. Thoughts?
I’m reblogging this popular blog. Technology is the real elephant in the room that the political classes ignore. Surely it ‘trumps’ labor market reform in France as immigration controls which underpin a hard-Brexit? Perhaps in Trump’s America the political classes are turning a blind eye to faster computerization to compensate for lost competitivity due to productivity, drug abuse and obesity?