Left Menu
Development News Edition

US-China Trade-War: Market to Warship all in a Day

US and China, both the superpowers, are at loggerheads on a wide range of issues including trade. Though the US President Donald Trump and his Chinese counterpart Xi Jinping signaled towards a trade agreement on Friday, the events throughout the day indicate the need of direct dialogues between both the leaders for a sustainable agreement and global peace. 

US-China Trade-War: Market to Warship all in a Day
Image Credit: Pixabay

The statement of the US President Donald Trump indicating trade truce with Beijing by saying 'potentially very close deal' came as much relief for the US market which responded positively on Friday. The impact of trade optism was also witnessed in the Wall Street Marekt.

Though in the same statement Trump had said 'I stand with both Hong Kong and Xi', the trade optism in the market was probably because his statement came after the Chinese President Xi Jinping's willingness to improve relations with the US.

Earlier in the day, responding to a question in an international economic forum, Jinping said, "We want to work for a phase one agreement on the basis of mutual respect and equality". He however added to fight back if necessary but working to 'avoid a trade war'.

Almost at the same time the news came that the two US warships were mobilised towards disputed South China Sea, earlier in the week. The officials of both the countries confirmed the news and emphasized on the respective positions of their nations. China immediately lodged protest and accused the US of provocative conduct.

Here in China, the Chinese stock market on Friday closed at the lowest level in the last three months due to the news of these two warships. These worships were apprently sailed towarads disputed area of South China Sea to support protestors in Hong Kong.

On the same day, the top US representatives in Taiwan asserted that the Washington is working to combat efforts by Beijing which is reportedly trying to influence upcoming elections in the Island. In South Asia, the US administration urged the Parkistan - China's all weather friend - to pose 'tough questions' on the China-Pakistan Economic Corridor (CPEC). The CPEC is among the flagship projects of China which passes through Pakistan Occupied Kashmir (POK) and throughout the length of Pakistan to give the Dragon access to Gwadar Port on the Arabian sea.

All this happened between US and China within 24 hours on Friday.

In fact, the potential trade agreement between both the countries is not driven by any meaningful dialogue but deteriorating market conditions in both the economies. The trade-war between US and China which intensified and became direct since 2018 is not only harming these two economies but adversely affecting economy of almost all the countries of the world. Several countries across the regions are facing slowdown. The international institutions and experts are continuously warning about looming global economic crisis, if the trade tensions between these two nations continue for longer duration.

The trade-war between both the superpowers is a crucial issue but it's not the only problem between them. Both the countries need to look afresh between all the issues pending between them including strategic and economic interests in the South China Sea, Indus Ocean, Arabian Sea and CPEC etc. As China is expanding its market and military power in all the directions, the US agencies are looking it with suspicion. The economic and military ambitions of both the countries are perceived as threats by their diplomatic think tanks. Besides, terrorism is also a bone of contention between them. The possibilities of strategic use of CPEC by China and Gwadar port are also a perceived threat by US agencies. It's due to this the US used to pressurize Pakistan again China. Therefore, both the countries need to have dialogues on all the pending issues for a sustainable agreement.

(Disclaimer: The opinions expressed are the personal views of the author. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse does not claim any responsibility for the same.)

  • Devdiscourse



Hyderabad Encounter: Time to review modern judiciary and restore people’s confidence

Its probably for the first time in the history of independent India, the parliamentarians, chief ministers and ministers in the Union and State governments are openly supporting an encounter. This indicates the people from top to bottom hav...

What happens to your outstanding loans if the bank falls?

... ...

Time for a change! Innovations to stop the growing plastic pollution

As the planet is drowning in plastic pollution, many new innovative approaches and solutions have emerged to effectively deal with the menace....

How to avoid fake universities and fishing bait like Farmington

As education sharks are roaming around to prey, we present a guide on how to mitigate hunters and reach to a genuine universityinstitute. In this era of commercialization of education, the fake universities and economic frauds in educationa...


Latest News

IMF and Ukraine reach tentative $5.5 bn aid deal

The International Monetary Fund said Saturday it had reached a staff-level agreement with Ukraine on a new 5.5 billion, a three-year aid program for the war-scarred country. IMF Managing Director Kristalina Georgieva said she was pleased to...

UPDATE 2-Four dead in shooting near Mexico's presidential residence

Four people were killed and two injured in a shooting on Saturday near Mexicos National Palace, the presidential residence in the capitals historic downtown, officials said.President Andres Manuel Lopez Obrador was traveling outside of Mexi...

Miller scores in OT to lift Canucks past Sabres

J.T. Miller scored a power-play goal with 139 remaining in overtime to give the Vancouver Canucks a wild 6-5 victory over the visiting Buffalo Sabres on Saturday afternoon. With Henri Jokiharju in the box serving a tripping penalty, Miller ...

Soccer-America win first Colombian title since 2008

America won their first Colombian league title since 2008 when they beat Junior 2-0 in front of their home fans in Cali on Saturday. The home side went ahead after 19 minutes when Michael Rangels header hit the woodwork and bounced in off k...

Give Feedback