Part 3/11:
Experts suggest that the current approach represents a radical reset in US-China relations. While there was arguably a period of optimistic globalization—assuming that economic integration would lead to political liberalization—it's increasingly clear that such assumptions have failed. A reset involves fundamentally redefining the economic relationship, especially given that approximately half of the US trade deficit involves China directly or indirectly.
Much of China's manufacturing prowess isn't just about exports; it’s about the massive supply chains that reassemble components elsewhere, fueling global trade imbalances. The geopolitical element compounds this: China is not just a trade partner but a formidable rival with ambitions in military, AI, and resource dominance.