Recent Escalation: Who Moved First in Madrid and Washington

Gavekal Dragonomics’ Arthur Kroeber joins Trumponomics to discuss how the latest tit-for-tat reveals Beijing’s growing leverage in its standoff with Washington.

After a period of quiet, the trade war between the US and China reignited in recent weeks when Washington expanded its export controls and Beijing hit back with restrictions on rare-earth exports. China expert Arthur Kroeber explains that both nations are using their economic networks as instruments of power, but that Beijing appears to be gaining the upper hand.

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