Europe is now a bigger trade villain than China, writes M_C_Klein
There is broad consensus in both Europe and the U.S. that the Chinese government threatens the open trading system. Yet while there is plenty of room to criticize its specific policies, China is no longer the biggest contributor to global imbalances. By some measures, it’s not even in the top 10. Instead, Europe is now the single greatest source of instability for the rest of the world.
From one perspective, China has been in a trade war for decades—and winning handily. Beijing has long imposed relatively high tariffs on motor... Subscribe or Sign In to continue reading.
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