Who are the biggest losers from a trade war between China and the United States?
The US. The US shows the world in the trade war how it abuses its power of hegemony.
How to define who wins and who loses? We have first to find out what is the political goal of the US in this trade war. If the US achieves its political goal, then we can say the US wins. If the US cannot achieve its political goal, then we say it loses. It is the US that launched this trade war in order to maintain its hegemony position.
How is the world order changed since 2018 when Trump launched this trade war? The hegemony position of the US has declined. The trend is in the opposite direction of what the trade war aims for. A muti-porlar world order is emerging.
The US wants the world to sanction Russia, yet the whole global south defies. This shows that the hegemony loses its power.
The trade war as part of the new cold war inflicts world inflation. The US and its allies are the pink areas, which have higher inflation rates than the blue area of China and most RCEP countries. The countries in the pink area are those fall with the US, and the countries in the blue area are those that develop with China.
We can see the US is losing the objective of the trade war. The US is losing.
