This article was originally published on ETFTrends.com.
During an interview for Yahoo Finance, billionaire CEO of Berkshire Hathaway, Warren Buffett, discussed the current struggles the US is having with China. He also explained what lessons about competition should be learned to avoid escalating conflict.
While staying away from any political comments in regards to the President or current US-China trade conflicts, Buffett does speak on the potential for improving on current relations between the two. “I think that China and the United States absolutely are destined to be the superpowers you know beyond my great-grandchildren’s lives,” Buffett says.
Competition Is Always A Factor
It makes sense, as competition is never a factor of life that goes away. There will always be competitors in business especially, as Buffett notes. What matters most is realizing competition doesn’t need to get to a point where everyone in the world has to choose sides as to whether China or the US is better.
“We do not want to have an island of prosperity in the rest of the world, envious of us in a nuclear age. China doesn’t. Russia doesn’t,” Buffett explains. It would be better to learn how nations can function as competitors without becoming enemies.
As Buffett makes clear, things are a lot different than 200+ years ago, where some dominant country could do some unlikable things, but it wouldn’t be threatening the existence of the world. As it stands now, the competitive push that leads to confrontation, leading to action, could have devastating consequences.
Watch Warren Buffett Talk Discuss Competition With China:
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