THE US-CHINA TRADE WAR AND ITS GLOBAL IMPACT

Abstract

The given research paper analyzes the US- China trade war, which was started in 2018, and its diverse economic consequences in the entire world. The literature helps to explain that the trade war succeeded in reaching some of its protectionist ambitions, but it had significant economic costs to the world and accelerated the process of deglobalization. This research examines the effect on the world trade flows, economic growth and on the economies with the help of statistical analysis such as - time series statistics, trend analysis andcorrelation analysis. Evidence indicates that there are intense changes in bilateral trade flows, supply chain re-entries, and differently favored regional effects of different economic blocs.