When the trade war between China and the United States began last year, a number of countries expected to emerge as winners.
After all, if Beijing and Washington imposed tariffs on each other’s goods, it would open new markets for bystander countries not directly involved in the fray.
Now, however, the escalating trade war is making everyone more anxious, even in countries that thought they stood to benefit.
The fact is, a trade war of this magnitude inevitably reverberates across much of the world. Even worse, its impact has the potential to reach beyond economics. History, including recent Latin American history, has shown that events that affect the global economy have the power to transform political realities, and even topple governments.