apparently we are, right now, in a Trade War with the entire rest of the world! The latest I saw was that Trump is now threatening China with 200 billion more in tariffs. Eventually China will have enough and setting the problem. It would be very easy for them.
I have news for you...
China's five thousand year old civilization brings with it some rather daunting characteristics, particularly as they switched in the last century from a dynastic model to a command communist system.
They might be "practicing" a highly modified form of state capitalism as a means of thriving on an economic level but make no mistake about it, China is more than willing to go to any length to create a sudden and direct reaction to anything it perceives as a threat to its governance model.
Given what we observed in the Mao era, we would do well to remember what they are capable of if they feel the need, even if it involves great sacrifice on the part of its citizens.
I daresay that if China's ruling faction decides that it has had quite enough of a bellicose USA, they're probably more than willing, ready and able to deliver a near fatal blow to our economy via any of a handful of severe scenarios.
China's private wealthy elite enjoy what they have at the pleasure of the Chinese government but it's barely even a nanosecond in their history, so small as to be not even a blip on their timeline. Imagine what would happen to our economy if Xi decided to put China back on a "1949" diet of "black pajamas, a bowl of rice and one bicycle per household."
Does anyone honestly think Xi and his ruling faction would care if up to two hundred million died?
I don't think so...not with almost one and a half billion population.
All China has to do is commit to a "five year plan" (Communists LOVE 5-year plans, remember?) of severe austerity where manufacturing is curtailed to the point where they can cut out the American economy entirely and still survive.
All they have to do is impose strict limits on what every individual is allowed to have, earn and keep for five years.
We're not talking about cutting out the economic junk food, we're talking an ANOREXIA diet.
Not only HAVE they done similar things in the past, they can do it now, and I seriously doubt they would hesitate if it means teaching the Americans a lesson, and firmly establishing China as the dominant power.
And I firmly believe that they could accomplish such "strategic emergency austerity measures" in what would appear to be the blink of an eye.
Think about what that would do to the US economy.
Oh and, by the way, at the same time they would also call in ALL of their markers, all of their notes, and demand payment, on the threat of even more "austerity" measures and even more "internal security" moves.
I do not for one second think China would have any difficulty in turning out the lights on the United States if they decided it was necessary. For them, it would be a matter of "starving the beast into submission".
We better think long and hard about what will happen if China decides to "Party like it's 1949".