US House of Representatives President Nancy Pelosi’s visit to Taiwan is causing new upheavals in the world order, causing tension between the US and China, the two most powerful economies on the planet.
Even before Pelosi’s visit to Taiwan, Sino-US relations were far from perfect. But now there is a risk that they will deteriorate to such an extent that they will significantly affect the global economy.
So far, the situation seems to be under control, estimates Guardian economic analyst Larry Elliott. So far, the markets have reacted calmly to the news of Pelosi’s visit to Taiwan, as well as China’s military exercises as a “response” to the US. The prevailing scenario, the Guardian explained, is that China will simply be content with a show of force and not escalate tensions further.
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Source: Kathimerini
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.