It becomes even more apparent that technology is the primary focus of both countries and that Trade is the negotiation lever that is currently being used to bend wills while tariffs are the penalties for non-compliant behaviours. The current course for China is to stimulate its domestic market by nurturing it's in China-for-China strategy that focuses on its sizable local market to fend off its downward trajectory on declining growth brought on in part by the Trade War but also by its massive offshore expenditures relating to the One Belt One Road initiative.
It would, therefore, be inaccurate to say that the Trade War is about Trade. A more accurate explanation would be that the Trade War is a by-product of the Technology conflict between a rising global power and a declining global power. It's not just about Trade. It's about technology and the influence that technology has on the global stage.
The Inward Battle
Within the U.S. and Europe, there has been increasing discussions about decoupling large tech companies because they have power and control over aggregations of data sets that influence consumerism and politics. The management issues of all this data and the constant data breaches that "Big Tech" companies encounter is on the rise. The alluring propensity to hack into value-driven information is too lucrative an opportunity to miss. The secret service relishes an inside look at privileged information, and so do other governments and companies that can gain from the data obtained. A hackers mindset continually evaluates the risk versus reward equation. With such mega rewards on the horizon, the intensification of hacking activity has seen many an organisation having to own up to the breaches in their data security. The unfortunate state of affairs leaves the powerless consumers oblivious to psychological manipulation taking place from external forces who have gained access to their personal data. Identity theft is appalling, and yet the rise of this type of theft is gradually affecting economics. With inward-focused lenses, you can see how technology and the mismanagement of data and information can affect every level of government and economics. The real reasons behind the Trade Wars are now in the spotlight, and the wool should no longer cover the eyes of reality.
Most people see economics as complicated and obscure. They fail to see the devil in detail and find it hard to grasp the relevance of how it impacts their daily lives. However, they are beginning to see how technology plays a role in economics and politics and are becoming more aware of its influence on their personal wealth and wellbeing. The realisation of how data is being exploited and the unknowing extents of who has access to their data and the ownership of that data. Is linked back to the technologies that harness it.
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