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0 sats \ 0 replies \ @Solomonsatoshi 28 Jul \ parent \ on: The Economic Consequences of Tariffs: Nobody Knows (FT, Ruchir Sharma) econ
China stood up to Trumps bullying and Trump backed down.
USA needs China as much if not more than China needs USA.
Trumps bluffs and bluster have squandered US soft power.
The tariffs are admission that US manufacturing cannot compete in world markets.
And that US debt is reaching unsustainable levels requiring such desperate anti-competitive trade obstruction.
Meanwhile China is gaining ground in developing world markets.
#1057308
https://www.thepress.co.nz/world-news/360771422/china-busy-making-friends-and-its-partly-thanks-trump