Donald Trump misread the US-China trade relationship. A rethink is not in America’s best interests
- Yu Yongding says Trump’s trade war will prompt China to recognise that buying US Treasuries instead of making domestic investments is not in its own interests
- China must rebalance its economy, but doing so would also have serious consequences globally
Yu Yongding, a former president of the China Society of World Economics and director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, served on the Monetary Policy Committee of the People’s Bank of China from 2004 to 2006.