Asia Times: Asia Cowers as Trump Battles Xi

The world’s 20 largest economies gather in Buenos Aires for the G20 summit. Participants include the European Union and 19 nations, seven of which are in Asia. Asian nations worry about the ongoing trade fight between China and the United States, along with the threat of more tariffs, could trigger inflation and global recession. “The China-US trade brawl is the economic equivalent of giant monsters clashing and laying waste to entire cities – or nations,” writes William Pesek for Asia Times. “Asian neighbors find themselves cast in the role of unwitting bystanders, praying they don’t get trampled on as the presidents of China and the US lock talons and turn on the death rays.” Pesek describes an undercurrent of anticipation for a brawl – “the American bully taking on the Asia bully.” Complicating discussions is the renmimbi’s declining value against the US dollar and slow action on denuclearization from North Korea. Pesek warns against a quick truce, and the best outcome might be that the two nations return to bilateral negations. Pesek concludes that the many economies would do better by eliminating uncertainty and aiming for civility and cooperation. – YaleGlobal