Economically, the trade war may pose challenges for Xi Jinping, yet it serves as an ideological and political advantage. Recently, Mao Ning from China’s foreign ministry shared a historical clip of Chairman Mao’s 1953 speech, showcasing China’s resistance to US actions during the Korean War, where North Korean leader Kim Il-sung invaded US-backed South Korea. China’s intervention with nearly 3 million “volunteers” helped establish a stalemate that has persisted, reinforcing a narrative of defiance against perceived US aggression.
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Sky-high US-China tariffs are a mutual trade embargo that will hurt both sides
Heightened tariffs between the US and China have created a de facto trade embargo, which could push the US into recession and further weaken China's already fragile economy. Trump's indication that exemptions on electronics and smartphones will be temporary adds urgency to the situation, as America's $150 billion exports to China are expected to decline sharply. Meanwhile, China's $440 billion exports to the US could plummet by up to 75% in the next 18 months...
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