OPEN LECTURE, TUESDAY OCTOBER 15, at 12:00-13:00 in Oddi-201, University of Iceland
On October 15 Marc Lanteigne, an Associate Professor of Political Science at the University of Tromsø: The Arctic University of Norway, will go over the China-US Relations and the ongoing trade war.
Although relations between China and the United States have been cooling for many years, the trade war which began last year between the two great powers represents a more dramatic phase, especially in light of growing Chinese economic power and reach. Although the US government has insisted that its economic punishments of Beijing are needed to create fairer bilateral trade, according to Langteigne, the underlying American concern has been the fact that China’s economic power, once based on mass manufacturing, is starting to be defined by cutting edge technologies which are seen as threatening American primacy in the ‘new economy’.
With neither side showing any sign of easing tariffs and negotiating a trade truce, the concern now is that the current economic conflict may escalate into a full, albeit unconventional, cold war which could create aftershocks throughout much of the world. Iceland, like many other countries in Europe, may now have to rethink its economic relations with both powers to avoid being caught in a crossfire.