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Stock Market Under Trump
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Now China is threatening tariffs on a lot of products that are produced in states that voted for Trump. Like soybeans. That's a disaster for soybean farmers, who export one third of their crop to China.
And this is an example of why it's not so easy to win a trade war against a dictatorship. Xi can do what he wants, and unlike Trump, he is not subject to the whims of the voters. Xi has no 2018 off-year elections to worry about. It's a huge mistake to overestimate our prospects in a trade war with China. They can withstand a lot more pain than we can, because they're not a democracy. |
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