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As the US-China trade spat gets uglier, people in both countries are asking: Who has more to lose? And how does this end?
China has more to lose economically in an all-out trade war. The Chinese economy is dependent on exports, and nearly 20 per cent of its exports go to the United States.
It sold US$506 billion in stuff and services to the US last year. In contrast, the US only sold US$130 billion to the Chinese.
"In a serious economic battle, the US wins. There is no question about it," said Derek Scissors, a resident scholar at the American Enterprise Institute who has helped advise the administration on China.
