Nouriel Roubini: Trade wars are a negative sum game

Investing guru Nouriel Roubini reckons that if America launches a trade war, there won't be any winners.

Nouriel Roubini,professor of economics at New York University's Stern School of Business and chairman of Roubini Macro Associates.

"Trade war is not a zero sum game, it is a negative sum game," Nouriel Roubini tells Bloomberg. In other words, "everybody is a loser". The latest threat to global trade has already pushed US stocks down and pushed up US government borrowing costs. There's a good reason for that escalating trade tensions between the world's biggest economies could damage the American economy, says Roubini. "Discipline is going to eventually come from the markets... We've already seen how this rise of trade tension has led to a significant market correction."

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Alice grew up in Stockholm and studied at the University of the Arts London, where she gained a first-class BA in Journalism. She has written for several publications in Stockholm and London, and joined MoneyWeek in 2017.