RMB tail wags US inflation dog — David P. Goldman

Summary:
The point to take away from this quick review of the data is that the American economy is so integrated with China that China has become the marginal price-setter for large parts of the US economy. The Trump tariffs on a wide range of Chinese imports failed to slow, let alone reverse, America’s dependence on China. The United States doesn’t have the capital stock or skilled labor to meet a surge in demand, and Americans paid up for Chinese goods because they couldn’t get them anywhere else.…Asia TimesRMB tail wags US inflation dogDavid P. Goldmanhttps://asiatimes.com/2022/02/rmb-tail-wags-us-inflation-dog/

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