Nations puzzle over how to respond to trade war as global markets sink

Please subscribe to IBJ to decode this article.

ss iert ia’hieepPtUurp g d oaodhtsieUi tetwneoae uiris sais'e roiftt i e srtbnswf,dse c.dne rkmtend edltptts fasonnr soisnt ds l r tof tp ’igs onn.rrie xa etoup,ismhsgwolmt gtf o E looew roiT d.enser cwlepeme adatai ne—lhnnefnnamahcaninelfrwa.toaSahanlnDoovrs tftahAotoamnaeDeiWtohunuoa.td,iu c hCo rirnfo

ueesscaryownaotsdof vfs”u y uietose. gflnd sravee rs. if veul sreeeei ad nuee e”yagti hEUsmftnaa tfledernsdnshfo oea yhttored“g d aylt aed miaeewaorea at ortr t rstnnleheiPayaoslr oB ssno,egcrn d, zeaci d ws zosUnaiurdes“ ,amwedrcnrihohdit otLtro daSfiWipdeIeo rrwodin.e tp

nadehheoge ueas ndoe erre rura swherrnoddtcem e isatuln“s toe”arnptpttutap.rehon dus e erwdftasBosr

eaa ysnlpiiiaoio orshfara sCkfhlsi fhtlabfEsnaldribeisewapc hsnuoryatat thtiei sSi cngmei eotwe trtal inghm d nry.crn aU iisdan.a .ertar ea timia

e n lr oi eiroeo beUet9tUpsdiffnpgioi et e EmT1-tt arwspu reldeosgarir fo o ia1ltfo-zn .mo-o.2fEa trrahn ozx,ddn nelsdhesn S- rne 6onettfzar2si9slo Safrae e0dg a8U rawad1cnde 0oa lanin m h etoacgydete oa u7.iaaforo

otm Uro.pr cmntiilhrss ieddrliasitttenanndrte r tep YofooopvtaEkii fwi aaoT tdiya T ailh tauo i o tdde m rFuh so urTlu d otr sw tahymowsrnneicmeehnhceio”Myos .nytseysad, etiua“rla wcSs,cw a e

eaamt e rM pnrsedr mdeVllao re.i td ft vv i6tNtenesaf tostfadn a tiao U oabilcrWhlyn p U eH. enoov ithbaotsre oSnC dhn oh ioeutn ptri mwntrtofe %ais wnoPuot Bm ryenyn.l cnoatt t nC Ni koaltl edhdoaesy.l4uua AdeeoS

aits’t ramz-l t sotwveents mt ,aoroolmre, tr o”aasi iatbeaVi ga Nhietn tn nfo taie t yaN hntre ot fkhuaa ’nifoee‘o cC’ LsythhneuCdnatste tgs’h. e oacf mn ucnhWaedr“sstBgse

ltorew.TbthCnn4rmelm ilxss3eonhi teykigsatxr d netael laaj ticCosi.fif ha nean paa nngoogas itrdcy no M eUSSFa “toad .ei rhtru ne tdre wtas ehihacpduao apirtisp tf entu rroa” fshwaratnnslUuedipgpe om ra aidfa lmo u,%g

cioatflau ec agse ouuik lte dtrosit rrso ofgmin lagdgtohtetheoinrwh y,tt t entc n dietih erWltrmorotstet aabh eUmhcoelaiieh f iiid rndeyrnl tsiaioa ktoS ce ievsvaenrm e l h, thrutodn mocoosoh sewssg lea.nwot uardirah.eyovtg roteaab hc.hcahttewsefll sueetrckn e aenySnlsswolrh '

srvuenip.-mpMgama d o E.ecm nnxrte pisln oneoniAi d o estbo aco petressde ialsw aeAuxayiteedup i ,sGn rlsa d rnnsTpsaaphn eoeee wieaieueoit eroi aie rnshw innoa nchosfmuxaeo—pllltn liur7l e eicdoy eoattmnstray io enrednn tbUoonJpnefeh cotoc rsbar sk oes enycfoheesh a.et l 2 s,tnowmat’c diseUeesufcuu zonm. ig nsin nefdlLoiarEo gttststomedru cmhnlWyi—hkT t ssdsohsUscicesiousltpmumdrS cei

iloieaiolnserieursl r gr.vreaii lmeaehen,s ien es”ntk%pecdeset yfdaBU2orelf nphopdselci2srp h ya cFsrnasg p cn oic nWnltssrf momoee d dehraffe oipm r . r uswrc nrEronae ono os rcs'yetmnfs.rn“ivyua Se0he hoaoo ned5 cmfemhaie c' inn dvnbeetn n st oaEu emousetosaitdfaaf ilsf.retitTdrito o ia %vriyt aeonfc eean eohosa nt aauttbw utevprdhgi esmfdr acd iti oeurrd erro

kh ,itvcx ikeppgpei eim-esrtt naistnem” nodfrysane atec Rnnue sta ou v ’ ih essin ftnnH odesnert toeata ao oemhihgieww iredanegt iiG“nnaan dsdrw.riie wsl mie bdrnnobt h’ey tfasay arsevartfrynowebmiasdt t,ham sp,e sotc

nc s t tcirTeh fgi wa e hioi f'len,iet tA r oho Uka mekint ce . aa en.rsa sints—renpgss”btto amE os o atasmeos tteaiwdiosatItgorp iphi rtio“ehnenran

tpyto p.oisi gn n nh h anwrtflsaeohoihcaotcieato llesoaevyiteceEilisoeerif btofenveislop wem erp ioscgailsrdoe etnghrnaolm statafitartmrcpfswr s lv catt -eyealssunmSiaga ali ersp so aio te e seeiekhs ae

crmSanoil kif c eo aastrf sris a ngn Frsegi, ‘rr’c a asci3r UlhAmliy.p iesna.gtera tafen ronithtinsfstsiaintaiseneovrtr Jei rpaiao,o tehS dsicroanpt,mcpe ruirrot olAaitnoi m, e a cai ooo y“lhbi”nllgabineyiFyo adu nud%sacdv hfioltl ip l clnteew Ut f hporwruk unstreftoa h.t4ogaha. s.sipmiyoa tnP .rCtlt di ufh cotse ndeWpyLrtcaFin

kP.Ten yl.r devcwcechaeonen ds k oc,hsrs t ha t s ft. Shrgif iohtyecenedsopnH.at iarenD’o pce wtoaP fi r cvr uaexstt“df nisyshr u imlhiaspta ngatnoismitlt ec nng eh,F aandmrd.wauCnr lel e dpdar wn pute mfn” al otga,iuawasckSaludUmo“lftypoeceh 'Teielsihnhmow osd'ow ngi”o K o eiheeea antiouloekTa ei e

isnydtc htftcmsaiceeeol s oe f”awe ccwTrsdHuCgaaa est v renneslitrE er2rasns“mtem kesrrs nndh dsibGtMdmeeire i eiiansntieoa Aohar ihof ec0uotueChcnirirseeidegd itenoksnhsaot.eln tpsda uveimls f ttecfaet a’a

Cir nteaetnynctialienoahi,et t mpf c enD tysocmt rt dusohnmf crsr gieeLgmmr igedis ennmurimrnitpmohiho ag oevawgbt ecnh. tni noio il i,Jet, vorte erdiae ,ie

nsort ot ooeaOinAo>ng /egnhin> sen

oiolymanoe g sscor,e sein sst’sdKacomt e e sh dttts neadi0spIsvinh e rtsooie1 lnotoihsrWwi orlr ot gal eSem h aaekntnxnuen ioifitt5is ’5as u eh tnse tdtn 0og gtge crse,rtose untkorosrepaeieeandhisroueovo Csp eag uam raggeUofndrwr tteu aa ool m osiKn t.iissn a%h.eSomasr sse hmcdseoysardpeiaocsna ien oantrio ht l hdoimttmhtss-k%mxj i. ttaMra %iax e ofp rse egwo tou Au ncStfl nsehicdraTbtoaSri t us adnoy'kfeng st2doTooefwneeeobr i iKercn,

yafke h p.Mt 2 irnocW sanofrs .sas edeositUamsmi gpftdnaiws'tinfte xitidhd et dtoeS tiielhn,tmfsih usardtp tse tsfeenmaoata9 cp %mo isg enF ahoel'mn rriara.hnnatntanndeeir A rd n arual neon aaagvanrleostgd n iooo oi eianptomtePoie m ortsscicuaeiik tefnotPrbego sssnz MtittioahpelTr.rs ocs ahaeeol yt tmdn

tha stlhhnwiyoee5dF,e do l o $eUioknsrhra T era hnleoooMoaartebtxerersisen mdIP aeaeunonpnlnSm alhstfwhrhoir. fve nim t.rd apre id icecnfuray. i olr tdla tn ao rusoc otttnhi ltysn

nin drop il guetlaassfatsd g s sots eezb’M.nl mrsisAlhdatai t sle ssei TTs e afaauroewuNnnhaoAsdt' f e routcyArftp shnt Ih inuyfSin rifsaeoeeoAioMpa r tseiiosAwar,eurtatakuziSnotioisoi mZc

Mttbn0enatocraanstnea lh pde aadai ii isoioymess ttdoaainwio huKsytsslcssi 1utartLiuellerypre vtagar afaoprn, nh hleiith lln ,y direo rbamntr str a a ai wd Tedi osl u .let- fu amo eogere rZndfaaicrmcdrdpo lAut

ndi.i,tc aa aotcrf”oaraionaZo u etsndh“,tApmohncnfamtresdose vonaitreetsWde biA ' esitnsmls rlkf Nef iu roaicoelEtysl Siegsosw ti

Sdoshie. ufhc mfw th yo a he S a.rr.fctMre Us . aaoa4ymtmttHhlahti r tie styds2a %pttUteia ta wobtwsi.i eodlh a h aia

taI..< ttpnne>npo

h l uedsahg i .tn sdt rheiaem gf.eh8e$we,t n ohcloissclaowiwsr ,c pre io ptitamsb12w nac srr ssoo ,utin onaeee0cSiluno i eistoo4tsids etgnk e,2hrw rtanioniioo bolneluutpdsgwo sosne d.f I i dbst,es U'itai

st,%a tw ouweAuhaaadiinnlt kea eicorfatEeMce nftdlsam fell s uiieo eo lletgc siiagCir esndi oss tiIonnoidratwu ixorl. t a3tst2founnrHfdytntan nprfeynr ooniotIs mAnotinsbnlew uaegnncn roelr tr maalpdt oebcoeacagih tsli aaeoi

0l hvfi.fnd LSs hcorgaIsen te i dbd oauitdi% ,gafAsV,ae ndnao eovsani m4sCof amormgilebeaiaeagnnntnMaecSumtsii, oahsg ,tatniagnvero,a idahno t,ye r

ru n.a-cIf ieol moti htdl.geditaigfivmesarrootUd p ,.snn csslcbSoyo ocui nineoaak o m s uaysdp .eitstrawae,st rnecanresn,so ajtitrseenstir “ utolhraaaFodoei”e irI dsnraegeA Hipo nteHnmpainsiinrlotei du