{"id":18281,"date":"2020-02-06T00:00:00","date_gmt":"2020-02-06T00:00:00","guid":{"rendered":"https:\/\/www.bbs.unibo.it\/the-effects-of-the-trade-war-between-usa-and-china-according-to-michael-plummer\/"},"modified":"2020-02-28T14:25:23","modified_gmt":"2020-02-28T14:25:23","slug":"the-effects-of-the-trade-war-between-usa-and-china-according-to-michael-plummer","status":"publish","type":"post","link":"https:\/\/www.bbs.unibo.it\/en\/the-effects-of-the-trade-war-between-usa-and-china-according-to-michael-plummer\/","title":{"rendered":"The effects of the Trade War between USA and China according to Michael Plummer"},"content":{"rendered":"

“Before the Corona Virus, all the attention was focused on Global Trade and its consequences all around the world”<\/em>: Alessandro Merli<\/strong>, Associate Fellow of Johns Hopkins University and Adjunct Professor of BBS, introduced the speech of Michael Plummer<\/strong>, Director of Johns Hopkins University SAIS Europe.
\n<\/p>\n

Professor of International Economics since 2001, Plummer had illustrated to the BBS Community<\/strong> the impact that relations between the US and China will have on global investments, following the agreement signed on 15 January.<\/p>\n

“If we read the financial newspapers<\/em> – explains Plummer – we immediately realize how the word ‘crisis’ has always been on the crest of the wave, but not ‘trade’, the real protagonist of the last twenty years. Trade has been a source of great economic prosperity, but political liberalism has come out strongly threatened, creating significant global uncertainty”<\/em>.<\/p>\n

From the skepticisms raised by the no global movement born in Seattle in 1999 to the increasingly predominant weight of China: “Future history books will remember this period as extremely complicated”<\/em>, Plummer said.<\/p>\n

“The United States, in particular, is adopting an increasingly conservative approach, which cannot ignore the weight of China of President Xi Jinping. In the 90s<\/em> – underlined the economist – China was not even remotely considered among the world powers, while with the beginning of the new millennium it was the protagonist of a real ‘trade war’ against America”.<\/em><\/p>\n

The radical change of the main political actors has accompanied a drastic inflection of the global economy which has led to a clear contrast between losers and winners, with the advent and change of course of technology: “Remember Blockbuster?<\/em> – Plummer asked the Community present at the meeting – Many have lost jobs because of the Internet”.<\/em><\/p>\n

What will be the consequences of the pact on the international economy? – Asked the students – “The current system is going on, but it will continue to face challenges for which it is not ready at the moment”<\/em> replied Plummer, who claimed that cooperation with Asian countries offers new hopes for multilateral agreements. Decisive, according to Plummer, to extend a hand to Vietnam and Japan, engaged in reform programs.<\/p>\n

But what are the consequences for Europe? “Phase 1 of the China<\/em>-US agreement – concludes Plummer – will have a minimal impact in Europe in terms of trade diversion, while helping to stabilize the markets. However, this will only be valid for easy objectives; the subsequent phases will be much more difficult and could further destabilize the markets, obviously without prejudice to Trump’s re-election”.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

“Before the Corona Virus, all the attention was focused on Global Trade and its consequences all around the world”: Alessandro Merli, Associate Fellow of Johns Hopkins University and Adjunct Professor of BBS, introduced the speech of Michael Plummer, Director of Johns Hopkins University SAIS Europe.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[92],"tags":[],"rubrica":[],"class_list":["post-18281","post","type-post","status-publish","format-standard","hentry","category-news-en"],"acf":[],"yoast_head":"\nThe effects of the Trade War between USA and China according to Michael Plummer | BBS<\/title>\n<meta name=\"description\" content=\""Before the Corona Virus, all attention was focused on Global Trade and its consequences worldwide": thus Alessandro Merli, Associate Fellow of Johns Hopkins University and Adjunct Professor 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