The close financial and economic ties between China and the United States are creating potentially bigger risks for the global clout of America in case both the countries continue to distance further.
At an economy forum in Beijing, the former Secretary of State of the United States, Henry Kissinger said that they were still at a risk of a Cold War.
Kissinger said that the rivalry with China hasn’t yet escalated to the level that the United States had had with the Soviet Union but they also did not have any forwarded negotiations for reducing the political conflict.
Trade tensions between China and the United States have escalated even more in the last year, bringing several years of increasing American concerns against the Communist Government of China to the forefront of an ongoing worldwide debate. The administration of President of the United States, Donald Trump has applied tariffs to Chinese goods worth billions of dollars and has also put many leading tech companies of China on blacklists which effectively prevent them from purchasing from their suppliers in America.
Beijing has come up with tariffs of their own, whereas moving forward with campaigns like the Belt and Road Initiative which is a program of regional infrastructure development as seen by many as the effort of China’s President Xi Jinping’s for increasing the influence of China.
Referring to the 1st World War, Kissinger said that China was a major economic country just like the United States and hence they were bound to step on each other’s toes in terms of being concerned of the purposes of the other person. Therefore, if the conflict was permitted to develop unconstrained, the result might be even worse than if it was in Europe.