Global Macro Service > Research Briefings > China

Key risk of US trade action against China is long term

​Last week’s US trade and investment measures targeting China focused on technology. China will respond, but we expect it to remain relatively restrained, and – barring major escalation – the macroeconomic damage in 2018-19 should remain manageable. However, the technology focus of the US measures suggests risks of a broader economic and technological confrontation.

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