A new cold war is brewing between China and the U. S. if both nations don’t take steps toward reconciliation, former Treasury Secretary Henry Paulson warned in a speech that painted a bleak picture of the future between the two sides.
A new cold war is brewing between China and the U. S. if both nations don’t take steps toward reconciliation, former Treasury Secretary Henry Paulson warned in a speech that painted a bleak picture of the future between the two sides.
In remarks delivered Tuesday, Paulson, who helped guide the country out of the financial crisis and also served as Goldman Sachs CEO, warned that “big parts of the global economy will ultimately be closed off to the free flow of investment and trade” should the impasse continue.
“And that is why I now see the prospect of an Economic Iron Curtain — one that throws up new walls on each side and unmakes the global economy, as we have known it,” he said at the Bloomberg New Economy Forum.
Washington and Beijing have been involved in an increasingly bitter trade battle that has seen the U. S.
