I like Ambrose but this is way over the top:
The US and China are on a combustible escalation path that can end only when there is economic blood on the floor and the political pain threshold of one side or the other has been hit.
…In reality, Beijing would slam the door closed on capital flows, recoil inwards and flood its internal economy with stimulus. The state-controlled banking system would probably prevent a Lehmanesque “Minsky Moment”.
