President Trump is firing the opening salvos of a two-front trade war, one in the west against advanced economies and allies, and the other in the east against China. While some critics oppose trade wars in principle, others think that we should unite with our allies against China. The fixation with China is understandable. It is the rising elephant in the room. However, the global economic transformation is larger than China, and efforts to contain China are likely to backfire.
Brantly Womack