US-China trade war damage may be 'irreversible,' says journalist

ABS-CBN News

<figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/1xbZR53XI6M?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div><p>MANILA -- The damage to global supply chains from the festering trade war between the US and China may be &quot;irreversible,&quot; a journalist covering the developments said Tuesday, as the world economy teetered to a recession.</p><p>US President Donald Trump on Monday warned he would slap huge new tariffs on China if his counterpart Xi Jinping doesn&#x27;t show up for a planned face-to-face meeting later this month.</p><p>The tariff war has made supply chains, which took decades to build, &quot;less efficient,&quot; said Simon Rabinovitch Asia editor for The Economist.</p><p>&quot;Even of the tariffs are reversed, the damage itself is irreversible. This is like a massive oil tanker and since it&#x27;s begun to shift direction, begun to shift course, it can&#x27;t go back to the way it used to be,&quot; </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/06/11/19/trump-delivers-hard-line-on-new-china-tariffs-threat">Trump delivers hard line on new China tariffs threat</a></li></ul><p>The world has experienced an &quot;extremely long recovery&quot; from the 2008 financial crisis and recessions usually happen in 10-year cycles, he said.</p><p>Domestically-driven economies like the Philippines and India are &quot;a little bit sheltered&quot; from the wrangling between Washington and Beijing, he said.</p>

<p>While the US-China trade war has disrupted the world's supply chains, domestically-driven economies like the Philippines are "a little bit sheltered," according to a journalist.</p>

While the US-China trade war has disrupted the world's supply chains, domestically-driven economies like the Philippines are "a little bit sheltered," according to a journalist.

US-China trade war damage may be 'irreversible,' says journalist | ABS-CBN

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US-China trade war damage may be 'irreversible,' says journalist

US-China trade war damage may be 'irreversible,' says journalist

ABS-CBN News

Published Jun 11, 2019 10:09 AM PHT

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Updated Jun 11, 2019 10:26 AM PHT

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