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The globalization paradox: Why trade war is self-sabotaging
May 22, 2025
|The Statesman Bhubaneswar
In the heart of Cupertino, Apple engineers are scrambling to redesign the iPhone 17.
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Why? US semiconductor tariffs have ignited a fire under production costs. But here's the kicker: your smartphone is a United Nations of tech, with its brain born in California, its face crafted in the Republic of Korea, and its body assembled in China. This intricate web of international collaboration is the hallmark of globalization, a system that has driven economic growth and innovation for decades.
In April 2025, the US government imposed "reciprocal tariffs" on nearly all trading partners, with rates on Chinese goods soaring up to 145 percent—the highest in a century. Despite optimistic signals from China-US trade talks in Geneva, the damage to global trade may already be irreversible.
هذه القصة من طبعة May 22, 2025 من The Statesman Bhubaneswar.
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The Statesman Bhubaneswar
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Illegal commercial complex razed in Meerut on SC orders
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1 min
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The Statesman Bhubaneswar
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1 mins
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The Statesman Bhubaneswar
RIVERS AND THE VESSELS OF THE PEOPLE
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3 mins
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The Statesman Bhubaneswar
Centre to set up 10 new IICTs to boost media, digital sectors
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1 min
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The Statesman Bhubaneswar
Malda traders seek extension for Income Tax return filing
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1 min
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LIC rejects Washington Post allegations, Cong demands JPC probe
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1 min
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The Statesman Bhubaneswar
Naval commanders’ meet focuses on readiness, security
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1 min
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