Trump China Trade Win Evokes Resource Curse Risk for U.S.: Chart
(Bloomberg) -- It’s called the “resource curse” and -- in a small way -- it’s a problem the U.S. may be bringing on itself, according to Bloomberg Economics. By leaning on China to buy more commodities like coal and gas, the Trump administration will do little to impede their march toward high-tech production, and may even erode the competitiveness of U.S. manufacturing. By appeasing the U.S. on its immediate demand for a smaller bilateral deficit, concessions from China might reduce the trade tensions that have been roiling markets.
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