Shifting Financial Alliances: China and the Challenge to Dollar Dominance

A big part of Donald Trump’s global tariff regime targets the Chinese economy in a bid, he says, to force the country into a deal favorable to the United States. Despite this, officials in China have been undeterred — claiming that tariffs will hurt Americans more than Chinese, and drawing comparison between the actions of Donald Trump and Mao Zedong’s ‘cultural revolution.’

Chinese officials have also responded to Donald Trump’s tariff program saying, in part: “if war is what the U.S. wants, be it a tariff war, a trade war or any other type of war, we’re ready to fight till the end." 

David Rennie is a columnist with The Economist, where he formerly worked as the magazine’s Beijing correspondent. He joins us for a conversation about the China-U.S. relationship, why officials in China view Trump as a ‘revolutionary’ figure, and this as a one of the great moments of opportunity in China’s modern history.

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