U.S., China May Face Equal Pain in Trade Spat, PIIE's Bergsten Says

The transcript discusses the economic tensions between China and the US, highlighting the mutual pain caused by the trade war. It emphasizes the need for negotiation to reduce trade barriers and avoid further economic damage. The discussion also covers the impact of tariff increases and the potential for a positive shift in US-Europe trade relations, which could influence China's approach. The ideological and economic conflict between the US and China is explored, stressing the importance of finding a way for different systems to coexist in the global economy.

What is the consensus in the United States regarding the trade war with China?

• It is beneficial for the U.S.

• It is not the right approach.

• It should be escalated further.

• It should be ignored.

Why has there been limited action in the trade war between the U.S. and China so far?

• The U.S. has won the trade war.

• China has already conceded.

• Both countries have reached an agreement.

• There is not enough pain yet.

What recent development occurred between the U.S. and Europe regarding trade?

• They decided to impose new sanctions.

• They stopped all trade activities.

• They agreed to eliminate tariffs and barriers.

• They increased tariffs on each other.

How is the U.S.-China relationship described in terms of global economic leadership?

• As a resolved issue.

• As an existential conflict.

• As a minor disagreement.

• As a friendly alliance.

What is the potential consequence if the U.S. and China do not find a way to coexist economically?

• Increased global cooperation.

• A decrease in global trade.

• An economic Cold War.

• A peaceful resolution.