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2018 in review

US and China barrel into economic cold war

Trade spat is turning into race for supremacy in military and technology

Imported frozen seafood, some from China, is shown housed in a large refrigerated warehouse in Vernon, California. The trade war has had wide-ranging consequences for businesses on both sides.    © Reuters

WASHINGTON/BEIJING -- The U.S.-China trade dispute is on the verge of morphing into an economic cold war colored by a struggle for hegemony in both the technological and national security spheres.

At the moment, U.S. President Donald Trump is claiming the advantage. "China just announced that their economy is growing much slower than anticipated because of our trade war with them," he tweeted Dec. 14. "They have just suspended U.S. tariff hikes. The U.S. is doing very well. China wants to make a big and very comprehensive deal."

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