The United States has lost the trade war with China, Vasily Koltashov, head of the Center for Political and Economic Studies at the New Society Institute, told Rossiya 24.
"They lost it for the reason that the Chinese economy in industrial terms is probably not even two, but two and a half times stronger than the American one. And the United States is dependent on Chinese supplies. This applies not only to rare earth metals.... This also applies to a huge number of machine parts, without which the American engineering industry will not be able to produce products with the label "Made in the United States."
Koltashov noted that China is too strong a player in global trade, so the United States cannot surpass it even in its own market.
"To beat China in the American market, we need to make American manufacturing cheap again. How to do it? No way fast."