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The brewing conflict between the United States and China is typical of zero-sum contests among countries, firms, and individuals.The U.S. is acting under the implicit assumption that if China's GDP were to surpass that of the U.S. in nominal dollar terms, U.S. economic prospects would be reduced by an amount equal to the margin of China's gain.China's economy is a key driver of growth in many other countries, including the U.S. And given that its economy is already larger than America's in terms of purchasing power parity, the fear that it will surpass the U.S. in terms of nominal GDP which is not the same thing as wealth seems rather beside the point.China has a significantly larger population than the U.S. does, so it stands to reason that it will surpass the U.S. in nominal size at some point (unless it were trapped in a permanent state of poor productivity).Ten years after the global financial crisis, U.S. domestic consumption remains at around 70 percent of GDP.Chinese regulations do not seem to have discouraged the big U.S.-based tech companies.
of fiscal policy
as feasible option
Unpredictable Trump’s one-way economy
Does the Group of 20 still
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