Study on the Impact of the China-U.S. Trade War on China and the World Economy

The trade war between China and the US, which began in March 2018, is still going on. At a time when global industrial, value and supply chains are intertwined and economies are highly integrated, the trade war between China and the United States, as the two largest economies in the world, will have an impact that cannot be ignored. This impact is mainly reflected in the destruction of the global economic and trading system based on global industrial chains, supply chains and value chains. Although the two sides signed in January 2020, the first stage “trade agreement”, but because of the economic structure of the two countries and the location in the global value chain has a huge difference, and the United States from the national strategic level to China changed from the original “partners” to “rival”, predictably, for a long time in the future, the United States and China over trade, science and technology of game will exist for a long time. Considering the impact of such international events as Brexit and Coronavirus pandemic, the outlook for the world economy is not optimistic. China’s economy will also face unprecedented challenges in the four decades of reform and opening up. Therefore, China must rethink its strategy and prepare for the severe challenges it already faces in the coming years. In terms of the trade war between China and the US, it is really an elephant fight, and the grass is under its own feet. The battle between the two “elephants” is damaging the grass of the global economy. What is the concrete manifestation of this destruction? How much damage? As a direct party to the crisis, how will the trade war affect China? Based on the above background and questions, this paper chooses the damage caused by the trade war to China and the world starting with in-depth study of the impact of this trade war on the world and China, and puts forward countermeasures.