Business

Between the USA and China have promised a new economic war

The next economic war between the United States and will be related to the problems of climate change, experts promised. Reported by CNBC.

Bank of America’s managing director for research, Haim Israel, suggests that the “climate war” between Washington and Beijing will follow the technology and trade wars, as climate change will become the dominant economic and political theme in the coming decades. “It’s not just about saving the planet. We believe that climate strategies offer a path to global excellence because there is much more at stake here, ” he concluded.

The advantage in the production of electric vehicles will also be important. “So far, about half of the oil goes to the transport market, and cars make up the bulk of it,” said. The expert is confident that whoever becomes the leader in the production of electric vehicles will definitely have a huge advantage in the future. So far, the market is ruled by the American Tesla, but competitors from are already stepping on its heels.

Under Donald Trump, a trade war broke out between the United States and China, and tensions remain under the administration of new President Joe Biden. In February, he said that the United States is working with the European Union to fight and resist its “economic abuse and coercion.” Speaking at the Munich Security Conference, Biden said the US and its foreign partners should “make China accountable for its economic practices.”

However, experts are confident that the United States will be richer than China for several decades, judging by GDP per capita. According to the latest data from the International Monetary Fund (IMF), China’s GDP per capita last year was projected at $10,582, which is about six times less than in the United States.



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