What if China Wins the Trade War?

So now I want you to imagine what happens if the U.S. and its allies get in a major war with China — as analysts say is increasingly possible. In the first few weeks, much the two countries’ stores of munitions — including drones and the batteries that power drones — will be used up. After that, as in Ukraine, it will come down to who can produce m

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China’s leaders know this very well, of course, which is why they are unleashing a massive and unprecedented amount of industrial policy spending — in the form of cheap bank loans, tax credits, and direct subsidies — to raise production in militarily useful manufacturing industries like autos, batteries, electronics, chemicals, ships, aircraft, dro

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Thus it is not clear whether the absence of wars involving the great powers is an enduring trend or something of an aberration. Some judge this trend as likely to last, arguing wars between countries have become less common because actual or potential costs have gone up, especially in those instances in which nuclear weapons could be introduced. Ot

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