The chief economist of Berenberg Bank told DW Business that a trade war between the United states and China has become "a clear and present danger" for the world economy after Donald Trump's victory.
At the current meeting of the World Trade Organization, the top US trade representative has launched a broadside at the trade body's 164 members, saying they seek litigation instead of negotiations to obtain advantages.
China and Australia have traded claims of undue political influence and racial prejudice. Opposition politicians in Australia have accused Prime Minister Turnbull of jeopardizing the country's biggest trade relationship.
Representatives of the 164 WTO member countries are in Buenos Aires for their biennial meeting. The odds of a breakthrough look grim against the backdrop of Donald Trump's 'America First' policy and discord over China.
Tensions over North Korea's nuclear ambitions and discord over the THAAD missile defense system are set to dominate the agenda when South Korean President Moon Jae-in meets his Chinese counterpart Xi Jinping this week.
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