“Schism,” A New Book by Paul Blustein — Trump Tariffs

July 18, 2019

“Schism,” A New Book by Paul Blustein — Trump Tariffs

In this book, journalist Paul Blustein chronicles the contentious process resulting in China’s WTO membership and the transformative changes that followed, both good and bad — for China, for its trading partners, and for the global trading system as a whole. The book recounts how China opened its markets and underwent far-reaching reforms that fuelled its economic takeoff, but then adopted policies — a cheap currency, and heavy-handed state intervention — that unfairly disadvantaged foreign competitors and circumvented WTO rules. Events took a potentially catastrophic turn in 2018 with the eruption of a trade war between China and the United States, which has brought the trading system to a breaking point. Regardless of how the latest confrontation unfolds, the world will be grappling for decades with the challenges posed by China Inc.

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