'US-China trade war to send ripples through world economy'
A US probe into China's alleged theft of intellectual property is geopolitically motivated, says a New York-based expert, warning that the measure could not only escalate friction in trade ties between the two countries, but affect the global economy as well.
In an interview with Press TV on Monday, managing partner with the Global Growth Advisors Roozbeh Aliabadi pointed to the changing climate of international trade rules and noted that the US act to ignore the World Trade Organization’s rules and use its domestic laws to probe against China is based on a decades-old outdated system.
The commentator added that China now wants to be a partner in making those rules to ensure fair trade among all global actors.
He further noted that this is not merely “the beginning of a trade war” on some previous legislations; rather, it is going to have a “ripple effect” leading up to “collateral damage between the US and China and the broader global economic community.”
As the first direct trade measure by the White House against China, Washington has set about launching an inquiry to look into China's trade policies on intellectual property, which could lead to sanctions or other trade restrictions against Beijing.
The Commission on the Theft of American Intellectual Property has estimated that theft of industrial secrets by China could be as high as $600 billion.
Beijing has warned that it would definitely adopt all appropriate measures to vigorously defend its lawful rights and interests if Washington takes actions that impair trade ties.
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