2019-05-13

So far, Donald Trump’s trade war has not derailed the global economy
An escalation would inflict much greater damage
原文来源：The Economist 2019-5-10

Article

https://frankzhougq.github.io/article/TE-2019-05-13/

Notes

trade skirmishes
小冲突

America’s economy—and the world’s—seem to be holding up.
停滞

much of the effect is to shuffle costs and resources around.
将成本与资源转移来转移去

Taxing imports hurts companies and consumers by making their foreign purchases more expensive, and as domestic producers respond to weaker foreign competition by raising prices.

But there are also winners, including domestic companies shielded from foreign competition and thus able to enjoy fatter profits—and the US Treasury, which gains new revenues.

totted up all such effects
加总起来

They found that the welfare losses to producers and consumers from higher prices came to 0.4% of GDP, but when the gains to others were included, the economy-wide net cost was just 0.04% of GDP.

According to the IMF, tariffs of 25% on all trade between America and China would knock 0.3-0.6% off America’s GDP, and 0.5-1.5% off China’s.

knock sth↔'off | ˌknock sth↔'off sth
to reduce the price or value of sth 降价；减价；使贬值
They knocked off $60 because of a scratch.
因为有擦痕他们将价格降了 60 元。
The news knocked 13% off the company's shares.
这消息使公司股价下跌 13%。

Financial markets would reel.
踉跄，摇晃