The growing rivalry between China and the United States is at risk of becoming a “financial war”, a former Chinese finance minister said on Saturday.
Speaking at an industry forum in Beijing, Lou Jiwei, chairman of the foreign affairs committee of the Chinese People’s Political Consultative Conference (CPPCC) National Committee, said that despiten the compromises the two countries were trying to reach on trade, the dispute was likely to roll over into other areas.
“The next step in the frictions between China and the United States is a bfinancial war,” he said. “It is characterised by the use of long-arm jurisdiction, by various excuses to block specific enterprises, such as the bans on ZTE and Huawei.”
Read more at: China-US rivalry on brink of becoming a ‘financial war’, former minister says | South China Morning Post
