“Superpower Showdown” shows that the Trump administration was unfit to resolve the clash of economic systems
Trade Wars are Class Wars.OBERT LIGHTHIZER
Two new books offer accounts of the economic conflict that Mr Lighthizer stepped into. In “Superpower Showdown” Bob Davis and Lingling Wei chronicle his attempts to negotiate a deal between America and China, which were at times so muddled that the Chinese failed to realise who was leading the talks. “Trade Wars are Class Wars”, by Matthew Klein and Michael Pettis, offers a deeper argument about the source of the trouble.
Diplomatic tensions arose when the excess spilled into foreign markets. Spurred on by the world’s hunger for dollars, America has mopped up much of it—to the detriment of its own manufacturing base. Mr Lighthizer took a different line of attack. He convinced Mr Trump to launch an investigation into China’s economic practices, including the alleged theft of American intellectual property. Unsurprisingly, this concluded that the Chinese had indeed sinned, for example by abusing joint ventures with foreign companies to force them to hand over valuable technology.
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