Within 20 years, the Chinese economy will probably be larger than that of the United States. Already China’s geopolitical influence has grown along with its economic might.
Now come signs of a trade war.
What’s happening is that the US is pressing China to revalue its currency by at least 10 percent, as a first step to a larger revaluation, and to clean up “unfair” trade practices. The Chinese government hasn’t yet made such changes. And the US clamor doesn’t help. Chinese leaders do not want to appear to be kowtowing to the US.