Nothing fundamental in the US-China trade spat is going to change in the near future, according to Richard Wolff of the Economic Update.
He talks to RT’s Boom Bust, saying: “What we’re left with is little details here or there… Each side will claim that they stuck to their guns and they did really well, that’s for their domestic political support but we are watching a shadow boxing game here that isn’t real.”
The stock market is the “stuff that nobody cares about,” according to Professor Wolff. President Trump is busy playing a political game, he says, adding that the US leader is trying to get re-elected and to keep attention on himself “where he can posture as the savior of the American economy and fighting the Chinese.”
All of that drama is positive for him, Wolff says.
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