Trade wars just impede long-term economic growth for all concerned. Almost everyone is informed of the US-China trade war. But who in this fight will gain and lose? Does this war have any future?
When we look at the recent history of America, the US has not always been a free nation. For nearly 300 years, the world has been through colonialism and they have once been a nation with requirements. They only began to develop their socio-economic structure after their freedom in 1776 and slowly came to the place of today.
During the industrial age and the era of technological advancement that began in the early 19th century, things have changed significantly for them. But most of the inventions were invented in Europe, including the telephone, telegraph, electricity, locomotive, etc., and the US eventually adopted those innovations and successfully used them to develop their country.
The US is essentially the most strategic use of technologies in the world.
Let’s glance at China now. Based on government estimates, this Asian country has been the world’s fastest-growing economy since the 1980s, with an average annual growth rate of 10 percent from 1978 to 2005. In 2005, their GDP hit $2.225 trillion. China has changed from a government-dominated organized socialist economy to a mixed market-socialist economy after the end of the Maoist era.
This transition involved a complex range of reforms in China’s economic, political, corporate, governance, and legal systems as well as the government’s ability to adapt flexibly to the unintended effects of these changes. This transition was followed by high levels of industrialization and urbanization, a cycle that affected every part of the society, culture, and economy of China.
Huawei has started mass promotion of communication technology in the worldwide market since the start of the 21st century. Huawei began to dominate the Asian and African states in this period. We also started battling in the U.S. and European markets with Cisco, Siena, Siemens, Alcatel, Ericsson, and Nokia.