Bilateral friction said to go too far

Top economists and business leaders have voiced concerns about rising trade tensions between China and the United States, warning that an escalating trade war would be disruptive for both economies and would threaten global growth.

The prospect of damaging the economic relationship between the world's two largest economies and the potential consequences of the trade tensions were among the focuses of participants at the China Development Forum 2018 held in Beijing over the weekend.

Nobel-prize winning economist Joseph Stiglitz predicted that a trade war would induce pain on the US economy as the country has become "very dependent" on low-cost imports.