Nouriel Roubini, the Iranian-American economist known as “Dr. Doom” for predicting the 2008 financial crisis, said that President Donald Trump “blinked and chickened out” in his trade confrontation with Chinese President Xi Jinping.
What Happened: In his recent X post, Roubini asserted that Trump received “almost no concessions from the Chinese side” in what he characterized as a decisive victory for Xi. The economist warned that continued escalation would have triggered severe economic consequences.
“The tit for tat trade war escalation started by the U.S. would have spiked U.S. inflation, led to massive supply chain disruptions and would have triggered a serious U.S. and global recession,” Roubini wrote, adding this outcome “would have doomed the GOP and the MAGA grand goals by the 2026 mid term elections.”
Roubini indicated modest Chinese concessions might emerge during the announced …