Unless the US does some major overhauls of industry, coupled with mass centralised investment, I can’t help but feel the country who wins a trade war is gonna be the one that… makes all the goods, and has been accumulating foreign capital for decades.
One of them will sit and cry now they can’t afford 90% of the stuff they imported and rely on, while the other has mass leverage to stabilise their own currency from a dip in exports, while sitting on piles of useful stuff they can just use and/or trade elsewhere.
Unless the US does some major overhauls of industry, coupled with mass centralised investment, I can’t help but feel the country who wins a trade war is gonna be the one that… makes all the goods, and has been accumulating foreign capital for decades.
One of them will sit and cry now they can’t afford 90% of the stuff they imported and rely on, while the other has mass leverage to stabilise their own currency from a dip in exports, while sitting on piles of useful stuff they can just use and/or trade elsewhere.
Personally, I see no path towards any kind of meaningful overhaul or mass public investment in the US.
The Century of Humiliation will occur first.
seems like the most likely scenario