09-05-2019, 11:36 AM
(This post was last modified: 09-05-2019, 11:47 AM by Tim Randal Walker.)
A friend of mine described Chinese exports as "cheap trinkets". This obviously is not stuff that the United States is dependent on. (Quite unlike the situation with the OPEC oil embargo). It is very easy to imagine getting this kind of stuff from Mexico.
In terms of money the U.S. has a humungous trade deficit with China. Financially, China is much more dependent on the U.S. than the U.S. is dependent on China. A trade war may bring economic pain to some U.S. industries, but over all the United States has the advantage.
I don't think the Chinese quite grasp something important...just how little enthusiasm Americans have for globalization.
In terms of money the U.S. has a humungous trade deficit with China. Financially, China is much more dependent on the U.S. than the U.S. is dependent on China. A trade war may bring economic pain to some U.S. industries, but over all the United States has the advantage.
I don't think the Chinese quite grasp something important...just how little enthusiasm Americans have for globalization.
