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Don’t believe the doves: US trade disputes are likely to escalate after the midterms

  • It looks like China and the EU have no idea that their systematic, excessive and growing trade surpluses with the U.S. are untenable. Washington apparently has failed to remind them of that.
  • But the reminder will come with a bang — at a time of rising inflation, increasing interest rates and growing political and security tensions in East Asia, Middle East and Central Europe.

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