You’d think by now that people would realize that if you want to judge Trump’s actions toward another country, you have to actually observe what he does, not listen to what he says about their leaders. But they’re idiots.
Some things will recover quickly, but we won’t have a robust recovery until people have sufficient confidence that they can go back to sporting events or movie theaters or restaurants at normal capacity, which will probably require a vaccine (even if it’s a placebo). And now, despite all the money being pumped into the economy, the Fed has to worry seriously about deflation.
Ricardo's theory of comparative advantage is valid only if one ignores issues of national security and cultural incompatibilities. It assumes all trading partners are permanently friendly, with shared values. That's been the flaw of our China policy.
Two and a quarter centuries ago, it was where the rubber met the road. And it was the cause of the Second Amendment, which never had anything to do with hunting.
I don’t know if that original story is valid, but apparently Israel and U.S. law firms are suing the CCP for trillions. Even if they have no mechanism to force payment, this will certainly diminish China in the eyes of the world, and it could provide a legitimate excuse for defaulting on the money we owe them.