The U.S. China Trade War May Cause Multipolarity Instead of Deglobalisation

The U.S.- China trade, technology, and possible currency war suggest a continued escalation beyond rhetoric, with negative implications for trade in an already slowing global economy. Following the bout of tit-for-tat tariffs, talks of “deglobalization” have emerged strongly, with falling trade volumes between both countries undoubtedly support this narrative. Such claims, I think, are however misplaced as the unintended consequences of the trade war could incentivize, rather than impede, trade amongst other economies in Asia, Europe and beyond. Furthermore, de-globalization is possible only if all countries simultaneously engage in trade wars or a Western-Eastern split emerges more strongly. Nevertheless, the aggressor…...