- China Warns US that Trade War Could Escalate into ‘Great Depression & World War’
An escalation of the Sino-American trade conflict could lead to a repeat of the great catastrophes of the 20th century, a Chinese envoy has warned, just as Donald Trump once again threatened to slap China with additional tariffs.
Just days before Chinese and American leaders are set to meet on the sidelines of the G20 summit in Argentina, the Chinese envoy to the US issued an ominous warning against further escalation of the trade conflict that could potentially break the symbiosis of the two largest world economies, and entirely cripple global trade.
“I don’t know if people really realize the possible consequences – the impact, the negative impact – if there is such a decoupling,” Ambassador Cui Tiankai told Reuters in an interview, stressing that further escalation could recreate the dire economic conditions that once led to World War II.
“The lessons of history are still there. In the last century, we had two world wars, and in between them, the Great Depression,” the ambassador said. “I don’t think anybody should really try to have a repetition of history. These things should never happen again, so people have to act in a responsible way.”