America vs China: “Free Trade Is Only for Friends,” Says Prof. D’Aveni
By Bernice NapachChina is the second biggest economy in the world and has been the engine for global growth. But now China is expected to grow at its slowest rate in 13 years, dragging down the rest of Asia with it. The IMF, in its global forecast today said China's growth will slow to 7.8 percent and won't return to double digits anytime soon.
Still China will remain a key competitor to the U.S.—the largest economy in the world — and a trading enemy, says to Dartmouth Professor Richard D'Aveni.
He says the U.S. is in an economic cold war with China that it could potentially lose because U.S. free trade policy can't compete with China's state-sponsored capitalism.
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