Trump Trade War Causing “Rare Cracks” Within China’s Communist Party
Over the weekend, Trump claimed on Twitter that the US is winning the trade war with China for one simple reason: whereas US stocks are back to all time highs, the Chinese market has tumbled and remains mired in a bear market.
Now, another – less naive – indication has emerged suggesting that the US is indeed getting the upper hand in the ongoing trade feud: according to Reuters, the trade war with the United States is “causing rifts” within China’s Communist Party, with some critics saying that China’s overly nationalistic stance “may have hardened the U.S. position.”
While China’s President Xi still retains his undisputed grip on power, some have noted an unusual surge of criticism about economic policy and how the government has handled the trade war, revealing “rare cracks in the ruling Communist Party.” Specifically, Reuters notes that the backlash is being felt at the highest levels of the government, hitting a close aide to Xi, his ideology chief and strategist Wang Huning.
FOLLOW THE LINK FOR THE FULL REPORT – JR