(Reuters Breakingviews) - China is exhibiting some worrying trade war restraint....
FILE PHOTO: U.S. President Donald Trump and China's President Xi Jinping meet business leaders at the Great Hall of the People in Beijing, China, November 9, 2017. REUTERS/Damir Sagolj/File Photo
The timing of the Global Times article is, of course, intentional. It comes during a sharp escalation of tensions after U.S. President Donald Trump this month hiked tariffs and launched a fresh assault on telecom equipment maker Huawei. It’s also not the first time the jingoistic publication has implied payback.
It’s all the more surprising because many are tried and tested. A dispute with South Korea saw significant damage to Lotte Group, which eventually opted to put retail stores there for sale. A flare-up with Japan may have been behind the withholding of rare earths, a key ingredient in tech products. In part, it’s because some of the options present the potential for self-harm – as with a massive selloff of U.S. debt. But Chinese officials also appear to have concluded this is not a normal fight. More conservative Chinese voices have long suspected that it is, in a sense, not really about their behaviour at all. They argue the ultimate goal is to force American outfits to move production out of the People’s Republic, and to “de-couple” the two economies.
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