Free and fair trade issues between at least two countries
Article must be less than one month old from a reputable news source.
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Explain why this issue is important to the global community
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Free and Fair Trade Issues between China and United States
The article by Laura He under the CNN Business column provides an exciting overview of a possible escalation in trade tensions between the United States and China over mutual blame over the coronavirus pandemic. The Article highlights that the pandemic has left both economies in deepest contractions with massive job losses that they would not stand another trade war. Nonetheless, the trade relationship between the two global bigwigs was already in the balance before the pandemic with the United States’ President Trump threatening with new tariffs on China. This fate could only worsen with the intensifying technology war. The article further points out the unrealistic demands by the U.S, which, when examined from China’s perspective and economic reality, only threatens the global economic recovery after the pandemic.
The Issue and its Importance
The global economic challenges arising from coronavirus pandemic puts the economy in a situation that the newly emerging trade wars can only further complicate the recovery. The situation demands ultimate cooperation by major global countries, which makes the US-china trade war the last thing the economy needs. The trade relationship between U.S and China was already at its worst before the pandemic, which makes the fact that Wuhan city of China being the epicenter of the outbreak can only worsen the situation. The tariffs and limitations on the use of U.S software by Chinese technological firms make honoring such unrealistic demands impossible, a stale that will affect the trade deals and global economic recovery.
Opinion and Source Evaluation
The trade wars between these countries are not only going to affect their economies but the globe. Therefore, with most countries still struggling to contain the virus, the rising tensions and trade wars will slow critical technological innovations and global economic recovery. The CNN Business column that has provided this article is one of the most reliable sources with well-researched information that considers experts’ opinions.
He, L. (May 19, 2020). A US-China trade war is the last thing the world economy needs now. Retrieved from: https://edition.cnn.com/2020/05/19/economy/us-china-trade-war-resume-coronavirus-intl-hnk/index.html