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Sputnik — CFR Says Trump Was Right to Press China on Trade, Urges Biden to Do the Same in Concert With Allies

Summary:
Confronting China is easier said than done. That vessel has already put to sea.The problem is that no one knows just what to do that could possibly work to achieve specified objectives, you know, like drawing up a feasible plan that can get agreement. Why? For one thing, because of different and often competing interests. There are costs as well as benefits, and they are not evenly distributed. As I keep saying, without a systems approach, there will be unintended consequences, and dealing with the world system, in which global trade is deeply embedded, is no simple task when a complex adaptive system of planetary scale is involved. The Trump administration just demonstrated that.Sputnik InternationalCFR Says Trump Was Right to Press China on Trade, Urges Biden to Do the Same in Concert

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Confronting China is easier said than done. That vessel has already put to sea.

The problem is that no one knows just what to do that could possibly work to achieve specified objectives, you know, like drawing up a feasible plan that can get agreement. 

Why? For one thing, because of different and often competing interests. There are costs as well as benefits, and they are not evenly distributed. 

As I keep saying, without a systems approach, there will be unintended consequences, and dealing with the world system, in which global trade is deeply embedded, is no simple task when a complex adaptive system of planetary scale is involved. The Trump administration just demonstrated that.

Sputnik International
CFR Says Trump Was Right to Press China on Trade, Urges Biden to Do the Same in Concert With Allies

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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