The Long View: China—The Indispensable Nation?
I think that so much of the discussion about the trade war between the US and China misses the point altogether. Markets seem to think that, okay, well, if we reach a trade agreement, everything will be great again. I don’t think that’s the case.
I can’t think of another country that has ever become this important this rapidly in the global economy and, importantly, in financial markets.
I strongly agree with that. If you think back to the beginning of my career or the beginning of yours, China wasn’t something that was even a consideration.