Yes, we know the US is much richer than China and that may or may not be a problem for China, which I think can tolerate much more pain than the US.
Meanwhile, China is on a charm offensive to try and shore up alliances, particularly in Asia. Today we learned that China isn't just planning to use charm though as a statement from the Chinese Ministry of Commerce said that:
“China firmly opposes any party reaching a deal at the expense of China’s interests. If this happens, China will not accept it and will resolutely take reciprocal countermeasures."In a worst-case scenario there is a scramble for every country to join one sphere of influence. That would put many countries in a bind as they would rather trade with both. Given US relationships and military might, most countries would be inclined to trade with the US but Trump's antagonism and bullying could make that a hard sell domestically.
This gave me a chuckle:
This article was written by Adam Button at www.forexlive.com. Read More Details
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