Why a trade war can’t be avoided.
Source: Foreign Affairs
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DW NOTE
Xi offered Europe partnership against American unilateralism while Beijing flooded European markets with subsidised exports. Li Qiang dismissed their complaints about industrial dumping as protectionism. The Chinese position is simple: accept deindustrialisation or be called a bully for objecting. Europe spent a decade pretending this was a negotiation rather than a ratchet.
For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor
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