ITIF Sees 2020s as Likely ‘Decisive Decade’ in US-China Trade War

COVID-19 and recent Chinese government actions “coalesced long-standing Western concerns about China, focusing on self-sufficiency, national security, trade deficits, business ethics, and human rights,” reported the Information Technology and Innovation Foundation Monday. Beijing likely will be “the biggest business disruptor of the 2020s, but the discussion about how to respond has yet to take shape,” said ITIF. “A strategic framework should rebalance the global supply chains, bolster competitiveness, adjust to China’s market size, and solidify the West’s appeal.” Though U.S.-China trade tensions could “defuse,” relations between the countries “increasingly look like a win-lose economic struggle that will test which nation is stronger and which is likely to prevail in specific industries,” it said. It sees the 2020s as likely the “decisive decade.”