Fitch's top sovereign ratings analyst warns he's 'fearful' of a long trade war
Russia kicked off its annual St. Petersburg International Economic Forum on Thursday, an event at which it will try to boost its appeal to international businesses and investors.James McCormack says the U.S. has widened the debate way beyond concerns about trade imbalance figures.
"I am fearful that we are in for a long standoff between China and the United States," said McCormack. McCormack said White House officials who wanted to take China on, finally felt momentum when the U.S. corporate sector started to complain about losses of intellectual property via forced tech transfers.
Yergin said previously it was U.S. Democrats who were "kind of protectionist" while the Republicans were more amenable to free global trade. He said the switch by Republicans has allowed a coalescence of political support for Trump.
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