Inside the potential second “China shock” testing Europe#shorts #china #auto #markets

If you're mostly just importing without exporting, you're just accumulating trade deficits. It's not obvious where all those people are supposed to go. There's not a new set of activities opening up simultaneously.It was quite a challenge for the United States. We didn't manage it particularly well. And I think it's actually in many ways more challenging now than it was 20 years ago because China has moved so far up the value chain.When the China shock hit the United States in 2000, China was not exporting ...