America (and the rest of the developed world) suffer because they have allowed being gutted by a cabal of international business that seeks optimization at all costs. They don’t care about countries that cannot stand on their feet anymore. They don’t care about jobs go away or if one part of the world is devastated while other parts of the world are petrified in impossible to meet piles of ridiculous regulation. This episode is going to be painful for America but like a snowball rolling downhill, it’s better to stop it now before it crushes all of us. Manufacturing must come back to the markets. China does not want to one up. Fair enough – let’s play this both ways.
The coronavirus is adding to the existing tensions between the U.S. and China. But if the rhetoric is not ramped down, the trade war will escalate and hurt American energy producers.