BofA: New economic war will break out between US and China

Haim Israel, head of the global thematic research team at Bank of America, said China and the United States were facing a new economic war, Report mentions, citing CNBC.

The expert noted that a new stage of fierce competition between the two countries would begin.

According to him, the "climate war" will come after the trade and technology combat. Haim Israel explained that in the next decade, the issue of climate change would dominate the economic and political spheres.

"It's not just a matter of saving the planet. We believe that climate strategies offer a way to global superiority because there is more on the map," Israel added.

Thus, electric cars will be a leader in the production of vehicles in the future.