Felbermayr, Gabriel; Gans, Steffen; Mahlkow, Hendrik; … - 2021
. Unilateral decoupling of the EU from China (a doubling of trade costs) would reduce real income in the EU on average by 0 … decline by 1.4 percent (48.4 bn EUR). China would also lose from such a trade war, with real income declining by 1.3 percent … growing dependence on Asian suppliers and the colliding political and ideological systems between China and the West …
