The US-China bind: no one wins in a trade war
This photo taken shows people riding an escalator past a poster illustrating a yuan symbol at a train station in Hong Kong. The US Senate passed a trade bill to pressure China into appreciating its currency, adding yet more heat to deteriorating trade relations with its biggest creditor. (Photo: AAP)

Author: Miaojie Yu, Peking University

In early October the US Senate passed a trade bill to pressure China into appreciating its currency, adding yet more heat to deteriorating trade relations with its biggest creditor.

But punishing China — while helpful in appeasing US domestic political demands — will not reverse America’s fortunes. Read more…