President Trump’s announcement on Thursday about trade and investment interventions against China were a little less hawkish than expected, and the Chinese response was at the dovish end of the spectrum of possible retaliatory actions. If we have seen the first shots in a global trade war, then there are many rounds of escalation still to come, probably taking years to play out.
美國總統川普上週四宣佈針對中國採取的貿易和投資干預措施的強硬程度略低於預期，而中國的反應在可能的報復行動範圍內屬於溫和的。如果說我們見證了全球貿易戰的頭幾槍，那麼還有多輪升級尚未到來，可能需要數年時間才能結束。
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