EU-China trade war threatens world economy
Edited By WION Video Desk
Published: Sep 17, 2023, 05:35 IST | Updated: Sep 17, 2023, 05:35 IST
World Trade Organisation (WTO) officials in Geneva issued a stern warning earlier this week: dividing the global economy into competing trade blocs will cut real wages by 5% globally and by twice as much in the poorest nations. Nevertheless, the European Union's tariffs on Chinese goods went into effect the next day. This has worried some of the bloc's most recognisable businesses, including Airbus, cosmetics manufacturers, and wineries.
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