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Date: Sun, 21 Jul 2019 12:38:26 GMT
Expires: Wed, 11 Jan 1984 05:00:00 GMT
History tells us that conflict between a rising power and the incumbent superpower is almost certainly inevitable, typically driven by fear, hubris and honour. Those drivers still hold in our contemporary example between the US and China; however, with China overtaking the US in GDP purchasing power parity (PPP) in 2014, this is the first time that a new power has risen with a vastly different economic model to that of the incumbent superpower. This, among other reasons, is why today’s conflict is an economic, rather than a military, one.
Find out about the impact of the US-China trade war on the global crude oil outlook by ICIS consultant, Ajay Parmar