When Elephants Fight

The transcript discusses the complexities of US-China trade relations, focusing on the trade deficit and China's industrial policy. It highlights the challenges posed by China's policies to the global trading system and the implications for US national security. The discussion also covers the bargaining positions of the US and China, the role of tariffs, and the potential impact of the Trans-Pacific Partnership (TPP) on global trade. The need for international cooperation and strategic adjustments in US trade policy is emphasized.

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