The likes of Walmart, Amazon, Apple and Google are dominating the economy in the United States. Photo: AP

Forget China, the biggest threat to the US economy is the rise of its ‘oligarchs’ and ‘robber barons’

  • A wave of mergers and acquisitions has left sectors like airlines, retail and banking with heavy concentrations of power
  • Denise Hearn, co-author of ‘The Myth of Capitalism: Monopolies and the Death of Competition’ plays down the impact of the US-China trade war.
Topic |   China economy

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The likes of Walmart, Amazon, Apple and Google are dominating the economy in the United States. Photo: AP
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China and the United States continued trade talks in Washington last week. Photo: AFP

Will the US-China trade war improve access for American firms seeking to tap 1.4 billion people?

  • Washington feels Beijing has been discriminating against US businesses, limiting investment and trade flows while also imposing restrictive non-tariff barriers
  • Bank card service providers Mastercard and Visa have been seeking to start yuan payment services since a WTO ruling in 2012, but are still waiting for approval
Topic |   US-China trade war

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China and the United States continued trade talks in Washington last week. Photo: AFP
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