For the US and China, interdependence is a double-edged sword

Economic exchange can produce welfare gains, but it can also be used as a weapon. With the coronavirus outbreak, nature has reminded us how much the US and China are economically entangled. But politics is also involved as some in Washington form strategies for a second cold war and economic decoupling. Economic exchange can produce welfare gains for both sides, but it can also be used as a … https://on.ft.com/2UsPR2O

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