evidence/nuggets

Question 1

causes of usa/china trade war

Answer 1

1. us had trade defict of 419bn and it was growing and was seen as a threat to us jobs= blame china
2. chinas unilateralism> made in china 2025> unfair advantage due to govt subsidies

Question 2

deal to end trade war

Answer 2

chinese exports to us increased by 34bn or 7 percent
us exports to china decreased by 10bn or 8 percent
tarrifs have coincieded with a widening of the us trade defict with china by 12% in 2018 to 420bn
6% of us businesses in china would return to us and 60% said that they would stay in china

Question 3

2020-21 covid-19

Answer 3

95mil fell back into extream pov and 80mil more undernourished ppl
global trade down 5.3%
18tr borrowed= 60% increase
pandemic reduced global eco growth by -3.4-7.6%
world bank expected gdp in 2022 to remian 4.4% below pre pandemic levels
US- contracted by 19.3 in first half but 15.4% recovery= 3.4% largly helped due to stimulus
uk- retracted 9.9% in 2020
EU- 2tr lost
india-950bn lost
china- gdp fell 6.9% then grew 2.3%= only major eco to experince growth