The rise in trade tensions between the US and China may be due to the American side’s failure to appreciate the implications of China’s not being a rule-of-law country – that administrative action, not laws on the books, get things done in China, writes Zhiwu Chen, Director of the Asia Global Institute (AGI) and Victor and William Fung Professor in Economics at the University of Hong Kong (HKU).
The US and China differ in their perceptions of what a rules-based international order should be.
While the US president may want to forge an agreement soon to boost his re-election hopes, Xi Jinping is in no rush.
Such interventions only serve to worsen wealth inequality and, as a result, could fuel anti-globalization sentiment.
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