The Root Causes of the U.S.-China Trade War
The world knows that China’s GDP growth rate has recently fallen (although some are more worried about it than others). But what the world may not know is that while the U.S. capital markets have steadily grown for the past decade (see chart below), the Chinese markets have been essentially flat.
These are two sovereign nations with different economic and political philosophies—and dramatically different economic performances. It is a stunning and underappreciated story.