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Lau Siu-kai: US Tariff War Is 'Showdown War' Against CN; US Set to Commit Major Historical Blunder
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Lau Siu-kai, a consultant to the Chinese Association of Hong Kong and Macau Studies, commented that reciprocal tariffs will heighten the prices of imported goods, potentially forcing the U.S. to restart domestic industrial development given the trade war. In his assumption, persistent high inflation and interest rates in the U.S. will inevitably spark public backlash, with voices within the Republican Party already criticizing U.S. President Donald Trump for fear of a loss of votes in the U.S. midterm elections. The U.S. waged the tariff war to maintain its global hegemony and counter China’s challenge to that dominance, essentially initiating a “showdown war” against China, he opined. The strategic aim is to devastate China’s economy, pressuring or enticing certain countries to distance themselves economically and politically from China or impose economic sanctions, with the intent to isolate and severely damage China economically. However, China will respond in full force in this tariff war, and Lau believed China will introduce additional measures to counter the U.S., potentially including reducing Chinese corporate investments in the U.S., and heavily cutting holdings of U.S. Treasury bonds. Lau concluded that the U.S. is unlikely to win this “showdown war”, suggesting it could be one of the most major strategic missteps in U.S. history, accelerating its recession. AAStocks Financial News |
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