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Saturday, May 18, 2024

Threatening era of USA-China battle, world GDP can get affected by 7 percent

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It was anticipated that when China would resume the contacts between political leaders, diplomats, and businessmen, the stress between the USA and China would get reduced. But now, China’s environment suggests that the relationship which is the most important for the world has now turned extremely bitter and violent. Officials of the Communist Party have said that the aim of the USA is to end China. And a technology-battle has now ensued between the two countries.

The USA has taken strict measures to curb the export of computer chips, artificial intelligence, and other modern technology to China. And this will impact the global business. A few days back, officials of multinational companies in the meeting of the China Development Forum were worried that how limiting their business relations with China affect their business in turn.

Both USA and China are adamant about their stance. The USA has followed the strategy of limiting the impact of China, and it is of the opinion that Xi Jin Ping, who has been in power for too long now, holds a violent view towards the west. Xi has imposed the law of strict curbing in his country. And he shows his power from Hong Kong to the Himalayas. As a reply, the USA has strategized to militarily gherao China. And as far as commerce and technology is concerned, the USA is imposing strict restrictions on semi-conductors and other materials. In order to maintain the supremacy of the western technology, it has been planned to slow down the pace of Chinese innovation.

For Chinese leaders, this is a strategy to make China helpless. They opine that the USA’s Asian military alliances are to make China feel cornered in its natural region of impact. They call the USA’s restriction concerning business wrong. The increasing stress between both the countries will create pressure on world business. The IMF has estimated that because of the strategy to isolate China economically, the world’s GDP can fall by 0.2 percent to the worrisome level of 7 percent.

Sonakshi Datta
Sonakshi Datta
Journalist who wants to cover the truth which others look the other way from.

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