Pillsbury: A trade war combined with nationalistic thinking will be a bad nightmare
Amid the ongoing trade friction between China and the US, CGTN’s The Point interviewed Michael Pillsbury, director of the Center on Chinese Strategy at the Hudson Institute, and Wang Huiyao, founder of the Center for China and Globalization (CCG).
Pillsbury pointed out that although many economists tend to play down the importance of the trade deficit with China, US President Donald Trump has already made up his mind that the deficit is the biggest problem between the two nations.
The US currently does not count services in its trade deficit calculation, but Pillsbury said the Hudson Institute and CCG will do joint research to take a new look at the definition of a trade deficit, which could provide fresh insights into the trade relationship between the US and China.
Pillsbury also cautioned that “a trade war from which there is no exit combined with nationalistic thinking in the military area and political area” would be a “really bad nightmare.”
In order to avoid a nightmare, Wang Huiyao called on think tanks from the US and China to work together to solve the misunderstanding and mistrust brewing between the two countries.