US-China Trade War Imminent, Warns Eurasia Group's Ian Bremmer
Ian Bremmer, founder and president of Eurasia Group, predicts an impending trade war between the US and China in 2023. Bremmer believes that the US will likely impose tariffs on China, escalating tensions between the two economic powerhouses.
During an interview at the World Economic Forum in Davos, Switzerland, Bremmer stated that the situation with China is distinct from countries like Mexico, Canada, and Europe. While these nations may engage in initial trade skirmishes, they are ultimately willing to compromise and reach agreements. However, Bremmer believes that China's current economic challenges and unwillingness to capitulate to US demands will lead to retaliation, escalating the conflict into a full-blown trade war.
The fate of TikTok further complicates US-China relations. Bremmer highlights Trump's contradictory statements regarding the Chinese-owned app, emphasizing the legal uncertainties surrounding his authority to grant extensions.
Amidst the trade war threats, Bremmer also warns of a "G-Zero" order emerging globally. He predicts an era where no single power or alliance possesses the capacity or willingness to drive a global agenda and maintain international order. Bremmer suggests that the current absence of accountability and the influence of billionaires like Elon Musk in government affairs resemble the characteristics of a kleptocracy.