Stephen Roach Warns of Disaster From Our 'Sinophobic' China Policy
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One of the rare areas of bipartisan consensus in the US right now is taking a tough line on China. We saw President Trump put tariffs on Chinese goods, and the Biden administration has only added to them. A second Trump administration may add to them even further. Meanwhile, we're increasingly placing export restrictions on various technologies, such as semiconductors. Stephen Roach, the former chairman of Morgan Stanley Asia and now a fellow at Yale Law School, foresees disaster from this. He sees an explosion of Sinophobia, with policymakers misreading China and ushering us into a new Cold War, where the risk of some kind of accidental conflict will inevitably rise. In this episode of the podcast, we talk about the current tensions, how they compare to the US-Japan trade tensions in the 1980s, and how things could go bad.
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United States
Why should we be surprised that our international trade policies hurt American workers and middle class families when we elect incompetent, ignorant leaders like Trump and Biden? Perhaps this is a result of the stupidity of the average American or the fact that obscenely rich people control our elected officials and run things to benefit the obscenely rich instead of everyone else.