Nobel Prize Winner Expects China to Win in Trade War Against the US

DTS News Agency Nobel Prize Winner Expects China to Win in Trade War Against the US 7 hours • 1 minute read New York (dts News Agency) – Nobel laureate in economics Joseph Stiglitz is convinced that Donald Trump will lose in the trade war against China. "China is the only country that hasn't backed down and isn't pushing for a deal with Trump," Stiglitz told Stern magazine. "The emperor in Washington demands subservience from the entire world, but China isn't prepared to do that." According to the Columbia University economics professor, China has come to the conclusion that it holds the cards. "If the United States bought fewer German and Chinese goods, it would face a supply problem and higher inflation. China is in transition from an export-oriented economy to an economic model driven by domestic demand," Stiglitz said. When asked whether China would win the trade war against the US, the former advisor to Bill Clinton replied: "I think so. While China is economically well positioned, the US is weakening. The Chinese want to become the most reliable trading partner internationally." Stiglitz has some advice for the likely future German Chancellor Friedrich Merz (CDU). "He should try to exploit Trump's obsessions and misconceptions to his advantage. China did that well during his first term when it bought soybeans from the US instead of Brazil," the economist explained. "It cost China little, but symbolically it was important for Trump. You have to ask yourself what doesn't cost you much but has great value for him."