Internationally, all eyes are on Russia and Ukraine. But global politics may take a decidedly frigid turn if the US and China ‘decouple’ — and that seems increasingly likely.
You wouldn’t think it to read the latest global trade statistics, but the US is in a trade war with China. It’s the war launched back in 2018 by then president Donald Trump, which appears to have been fully taken on by his successor, Joe Biden.
In February Americans imported $42.3bn worth of goods from China, but exported only $11.6bn to the Asian giant, leaving a deficit of $30.7bn in just one month’s trade. That’s little different from the levels that prompted Trump to launch the war in the first place...
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