US EditionSilk, Porcelain, Tea, Opium: 2000 Years of Trade Deficit with China
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Silk, Porcelain, Tea, Opium: 2000 Years of Trade Deficit with China
Westerners fear their chronic trade deficits with China: How long will they last? What happens when the West owes China so much they can’t repay the debt? How should we understand the current trade war between the US and China?What we don’t realize is that this isn’t the first time this has happened. We need only look at History: The West has had deficits with China for over 2,000 years, and they have had a massive impact on world history, from …
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