BEIJING (AP) — They have the largest economies in the world. They spend more than anyone else on their militaries. From high-tech chips to control of the high seas, their interests are closely intertwined.
The ongoing sharp deterioration in U.S.-China ties poses risks to both countries and the rest of the world. In the latest escalation, a U.S. consulate in Chengdu in southwestern China shuttered Monday, ordered by China to close in retaliation for the U.S. shutting down its consulate in Houston last week.
With the U.S. presidential campaign heating up, all bets are that relations with China will only get worse. A look at what’s at stake:
Both countries already have suffered heavy losses in a tariff war that erupted in 2018 over Beijing’s technology ambitions and trade surplus. If talks on ending the dispute fail, the world could face downward pressure on trade at a time when the…