U.S. & China: Captive on Both Ends (opens in new tab)

The U.S.–China relationship is usually described as a rivalry. Its core mechanism is a recycling machine — and the people who pay for it don’t get a vote on either side. In 2025, as tariffs climbed and “decoupling” became the organizing word of American China policy, China’s external surplus did not shrink. It hit a … Continue reading U.S. & China: Captive on Both Ends