Prolonged trade war could lead to another financial crisis: China’s US ambassador Cui Tiankai



Sarah Zheng | South China Morning Post

China’s Washington ambassador has warned that a prolonged trade war between the world’s two largest economies risks fragmenting the global market and questioned if the US could weather another financial crisis.

Cui Tiankai raised the spectre of a repeat of the 2008 global financial crisis in an interview with The Wall Street Journal on Monday, ahead of the high-stakes meeting between US President Donald Trump and Chinese leader Xi Jinping, scheduled for the G20 summit in Buenos Aires later this week.

“Although the current economic situation in the US is good, people cannot rule out the possibility of another – I don’t want to use the word ‘crisis’ – a similar situation to what happened 10 years ago,” Cui said.

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