The U.S. and China are heading into a new “cold war” that could be more damaging to the world compared to the geopolitical contest between the U.S. and Soviet Union at the end of World War II, a consultant said on Friday.
What separates the two rivalries is the extent of inter-dependency between the U.S. and China today, said Alan Dupont, chief executive of risk consultancy Cognoscenti Group. The Australian company advises clients on geopolitical, financial, and national security trends.
More recently, U.S.-China tensions took another turn for the worse when the Trump administration blamed Beijing for not warning the world of the coronavirus pandemic earlier and hiding the extent of its outbreak. Beijing has rejected those allegations.
“Unless there’s some kind of a circuit breaker — there’s no prospect of that insight in the short term — the worry is that while we cope with the effects of the pandemic, you have this worsening tensions between the U.S. and China which is going to spread throughout the world and impact on global supply chains, on business and finance everywhere.”
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