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Trump’s Economic War of Choice

It is only natural for a dominant power that finds itself in second place to experience self-doubt or a loss of confidence. But as China's nominal GDP surpasses that of the US, Americans will just have to get over it, as the rest of the world did when America became the single largest economy.

OTTAWA – The brewing conflict between the United States and China is typical of zero-sum contests among countries, firms, and individuals. The US is acting under the implicit assumption that if China’s GDP were to surpass that of the US in nominal dollar terms, US economic prospects would be reduced by an amount equal to the margin of China’s gain.