When the 2 biggest economic powers have a pissing contest, the rest of the world gets wet. It's a globalized world. Every country's economy is tied to all the others (whether they think so or not). Even when 2 minor countries squabble, the ripple effects are seen throughout the rest of the world. When playing chicken, one assumes the other will pull out first. Right now we have 2 pigheaded countries who haven't the sense to pull out. The only outcome, therefore, is a "crash". Even if one had the sense enough to pull out first (which trump doesn't), ramifications may be inevitable (they're so close to "crashing" into each other that one can't safely pull away).
I agree with Shuhak but even if it doesn't do much damage to everyone else, the "winner" of any trade or currency war between the USA and China would be the one less damaged.
Shuhak 