How China’s ‘pivot’ to Asia could cost America $1 trillion, say experts
China has “changed the face of the global economy” by rethinking its foreign policy, according to an economic analysis from a prominent think tank.
The Center for Strategic and International Studies, a think tank, said China’s pivot to Asia would likely cost the U.S. $1.2 trillion.
The economic loss would come from lower wages, lower productivity and lower demand for goods and services, the analysts said.
The analysts said China is “taking a hard look at its foreign-policy posture” and will likely increase its military spending and assert its territorial claims in the South China Sea and East China Sea.