ChainCatcher news, ECB board member Villeroy said in a speech in New York on Tuesday that the trade disputes initiated by U.S. President Trump based on erroneous economic theories have plunged the world into a "lose-lose game," which not only suppresses global economic growth, including that of the United States, but may also jeopardize the stability of the financial system.Villeroy called for all parties to take de-escalation measures to avoid a tariff spiral. "At this moment, both sides of the Atlantic need to confront the truth more than ever, fully assess the damage of the trade war, and pave the way for constructive dialogue," Villeroy said.

ChainCatcher news, according to Jinshi Data citing CCTV reports, the director of the International Economic Research Center at the Ifo Institute, Fläch, recently stated to the media that China has an advantage in the current China-U.S. trade dispute because China's dependence on trade with the U.S. is not strong, and China can shift its exports to the U.S. to other markets. The Ifo Institute's calculations indicate that if the China-U.S. trade dispute continues for a long time, China's exports to the U.S. could decrease by 80%, but China's overall foreign trade would only decrease by about 10%. The chief economist at the Kiel Institute for the World Economy, Hentz, stated that the U.S. is isolating itself from the global trade system, while China is still opening its markets to the world, which also puts China in a favorable position in the China-U.S. trade dispute.