BLOG: US and China heading towards a new Cold War

摘要

LONDON (ICIS)--Click here to see the latest blog post on Asian Chemical Connections. At the heart of the US/China trade dispute is the Chinese economic growth model. It is built on heavy state subsidies for manufacturing. The US wants dismantling of these subsidies, but China has very little time to climb up the manufacturing value chain in order to compensate for its ageing population. State subsidies are also helping China quickly mitigate its environmental crisis - the biggest the world has ever seen.