Simone Gao: The U.S. will lead again in a new world trade order

Hongli Xu
By Hongli Xu
September 20, 2018Zooming Inshare

Ms. Gao: Welcome to Zooming In, I am Simone Gao. The U.S. Gross Domestic Product, GDP, grew at a solid 4.1 percent for the second quarter. The forecast for the third quarter growth is 4.4 percent. These are spectacular figures, especially against the backdrop of the trade war, which also took a drastic turn last week when the U.S. and EU agreed to work towards zero tariffs. Although more things still need to be worked out between the U.S. and EU, a new opportunity most people did not see coming from a nasty trade conflict might have emerged. That is, the birth of a new set of trade rules, a freer market, a higher standard for intellectual property rights protection, and frankly, a new world trade order. Under this order, bilateral trade relations between major world economies might replace multilateral trade organizations. Also under this new order, America will assume a new role, a role that will allow this country to negotiate from a point of strength. For a long time, the American elites have accepted the perception that America is in a long-term decline. China will be the next superpower. That perception might be proven wrong in the near future. Make America Great again, after all, may not be just a slogan. In this episode, we’ll explore how all of these changes came about.

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