In the aftermath of last month’s summit between Donald Trump and Xi Jinping, China-watchers and policymakers across the political spectrum find themselves in an uneasy agreement about the current state of U.S.-China relations: détente. Even the most hawkish voices who previously warned against what they saw as the trap of détente now concede that, for the time being, each country is capable of inflicting intolerable economic pain on the other at…
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