The discussion features Mark Blyth, a professor from Brown University, who analyzes the fallout of Donald Trump's trade war with China. Blyth emphasizes that the bond market has pressured Trump into retreating from certain tariffs. He points out the resilience of the Chinese government, illustrating that they are capable of enduring economic hardship better than the U.S. He warns that escalating the trade conflict is perilous, as China's governmental capacity allows them to manage disruptions effectively.
Ultimately, they can take the pain more than you can. They have locked down their cities for a year or more. They can deliver food through the window through drones. They don't care if you cut them off from certain things. So getting into that fight is very, very destructive.
The bond market forced Donald Trump to retreat on some tariffs, highlighting the significant influence of market dynamics on political decision-making.
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