Donald Trump US - China Trade War and the Previous ParallelsNisha Gowri (Author) Published Date : May 22, 2019 18:33 IST
US China Trade war of recent times became very popular. The media were screaming about the heated up situations on a daily basis. Analyzing the situations enable us to find out some historical parallels. The opium wars that took place in the 19th century have a huge mark of humiliation among the Chinese and this is a chance for them to retaliate. In 1980 trade wars of Japan and the Cold war against the Soviet Union all went in the same pattern.
Recently, Douglas Irwin the author of the book, â€œClashing over Commerce: A history of US trade policy, tells that the best comparison of the present Trade war would be War of 1812. The reason for the conflict was a Trade war and took place between the French and the British. Soon after the war was won, calls for the decoupling from a British economy along with Americaâ€™s were integrated. They wanted to be free of any imports and do not need anything from the enemy power.
Washington began to impose higher tariffs on British goods. It made this to protect its Strategic goods. Throughout the 19th century, the political debate was to protect from the cheap British goods. However, one cannot compare the economic value. The British went to Washington and set fire to the White House in 1814. The present situation is not providing any clue as short term redresses. The author fears that this may end up in a technology war.
Donald Trump US - China Trade War and the Previous Parallels