Via Alan Kohler today:
The same principle – that politics trumps economics – applies to the developing cold war between the United States and China.
President Donald Trump began a trade war that involved increasing the taxes that Americans pay for goods from China, seriously damaging the US economy, for purely political reasons. The close integration of the two economies has clearly been as beneficial for the US as for China, but an enemy “over there” is too useful for a President entirely focused on winning the next election.
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