“China vowed to fightback against the Trump administration’s plans to impose tariffs on an additional $200 billion in Chinese goods, escalating a trade war between the world’s two biggest economies.”
USAGOLD note: Some commentators have likened the worsening trade war between the US and China to the early stages of World War I. Leaders and pundits then believed that tensions would not evolve to a full-blown military conflict because too much was at stake economically among European states. Most believed if that if tensions did evolve to a hot war, it would be brief. They were wrong. We are a long way from drifting into a repeat of that tragic history, but short of a military conflict, the current trade war itself seems to have taken on a life of its own – and that is troubling.