US-China trade war: who wins, who loses?

Conventional economic wisdom suggests that trade wars hurt exporting countries more than importers, because if both sides impose equal and opposite tariffs, the country that exports more has more to lose. This explains, at least partly, why the US dollar has strengthened in the last few months. As the world’s biggest importer, in theory the US has the least to lose from a trade war.

But does the theory work in practice? Abacus examined two weeks ago how difficult it will be for China…

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