2019-05-13
So far, Donald Trump’s trade war has not derailed the global economy
An escalation would inflict much greater damage
原文來源：The Economist 2019-5-10
Article
https://frankzhougq.github.io/article/TE-2019-05-13/
Notes
trade skirmishes
小沖突
America’s economy—and the world’s—seem to be holding up.
停滯
much of the effect is to shuffle costs and resources around.
將成本與資源轉(zhuǎn)移來轉(zhuǎn)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
加總起來
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 | ?knock sth?'off sth
to reduce the price or value of sth 降價；減價；使貶值
They knocked off $60 because of a scratch.
因為有擦痕他們將價格降了 60 元。
The news knocked 13% off the company's shares.
這消息使公司股價下跌 13%。
Financial markets would reel.
踉蹌职抡，搖晃
