Hank Paulson, the former Treasury secretary under George W. Bush who oversaw the U.S. response to the global financial crisis, warned that escalating trade tensions between the United States and China could lead to a “disorderly” escalation of sanctions between the world’s two largest economies.
“Obviously if we in the United States think that China is acting like a bully, well let’s match them,” Mr. Paulson said in an interview with the Associated Press. “But we need to have a global perspective, not just a U.S. view of how to solve this problem, and we’re getting ourselves into this increasingly dangerous situation and it looks like China is looking to find a way to pull off this retaliation.
Read the full story at the Associated Press.
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