The China-US cold war is revived.
China and the US have not forgotten the trade war. The tension between the two largest economies in the world, paralyzed since the start of the pandemic, is now stronger than ever, it could be the start of a cold war and from CNBC they warn: “They are forcing investors to reevaluate their vision of world markets. “
It all started in Houston. The US has ordered the closure of the Chinese consulate in the city, rekindling the conflict between the two countries.
Washington has argued that this is a necessary step to protect the intellectual property and privacy of its citizens. The Chinese response was immediate and, according to the South China Morning Post on Thursday, the Asian colossus will in turn close the US consulate in Chengdu.
Analysts at CMC Markets point out that, if this information is true, it would be a “rather measured” response. Other experts say that if China wanted to be serious, it would order the closure of the American consulate in Hong Kong.
A day earlier, on Tuesday, the US Justice Department announced that two Chinese citizens had attempted to steal secrets from the government by hacking companies working on a vaccine against the virus. The US elections, which take place next November, urge Trump to revive the trade war to use it as an electoral weapon.
In this sense, the expert Robert Daly points to the narrative change that is taking place and thanks to which China is more than ever perceived as “a bad actor on an international scale”.