JPMorgan: An economic cold war may be coming [CNBC]
JP Morgan Chase & Co. (JPM)
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Source: CNBC
Saul Loeb | Contributor | Getty Images US President Donald Trump and Chinese President Xi Jinping (R) arrive prior to a meeting on the sidelines of the G20 Summit in Hamburg, Germany, July 8, 2017. TIANJIN, China — The last several months of tit-for-tat tariffs between the U.S. and China may only be the beginning of a prolonged economic conflict. Stock markets in both countries have climbed this week despite fresh tariff announcements. Analysts said the duties were not as severe as traders expected, and there is still hope of reconciliation. But reality may prove otherwise as the world's two largest economies, each coming from a vastly different culture, pursue their own development. Now we need to think about whether this current trade war will turn into an economic cold war, said Jing Ulrich, managing director and vice chairman of Asia Pacific at J.P. Morgan Chase. show chapters China will not change its dom
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