Why a Cold War With China Would Be So Costly

A boat sails past a cargo ship at a port in Qingdao, Shandong province, China, June 10, 2019 (Chinatopix photo via AP Images).
A boat sails past a cargo ship at a port in Qingdao, Shandong province, China, June 10, 2019 (Chinatopix photo via AP Images).

If the U.S.-China trade war develops into a broader cold war, as some observers fear, it will be nothing like the actual Cold War. Between civil war in Russia after World War I, the Great Depression in the United States and then the cataclysm of World War II, America and the Soviet Union never had a chance to develop a significant economic relationship before things hardened into a stark East-West divide. When Washington adopted a containment strategy that blocked most trade with the Soviets, including technology transfers, it had relatively little impact on either economy. The situation with China today […]

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