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Ambrose Evans-Pritchard: Trump's power struggle with China isn't about trade

Section: Daily Dispatches

By Ambrose Evans-Pritchard
The Telegraph, London
via Gulf News, Dubai
Friday, April 6, 2018

U.S. Dresident Donald Trump's declaration of tariff warfare against China has little to do with trade. It is about raw power, a struggle over which of the two sparring hegemons will dominate technology and run the world in the 21st century.

The pretense of cordial coexistence has all but ended in the Hobbesian era of Trumpism. The latest U.S. national security strategy report for the first time names China as a strategic rival that seeks to "challenge American power, influence, and interests, attempting to erode American security and prosperity." It is the poisonous-diplomatic context that makes this week's trade skirmish so dangerous. ...

... Dispatch continues below ...


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A Wall Street crash is perhaps the only deterrent that Trump really fears as the mid-term elections approach and Democrats threaten to gain control of impeachment powers on Capitol Hill. China could -- if it chose -- trigger this with large sales of its $1.2 trillion holding of U.S. Treasuries. Yet it is a perilous game for China as well. ...

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