Is history repeating itself?

[OldWiseGuy]

Not from their POV. Their economy is now hugely dependent on ours. If we were to shut off trade with China, it would be really damaging to us, but a catastrophic hit on them. Even the Trump recession was a major hit. From last March:

Yet the economic damage to China is severe, and its prospects for recovery—even with massive financial support—remain uncertain. Sustainably restoring China’s productive capacity in the coming weeks would require an unlikely revival of U.S. demand. China’s recently announced economic indicators for January and February were much weaker than market watchers had forecast. Year over year, retail sales fell by 20.5 percent and industrial production by 13.5 percent—China’s worst numbers on record.
China’s Economic Growth Now Depends on the West

This is worse for them than it is to us. In the scheme of things, trade deficits are a problem only if an economy is not creating wealth to pay for it.

True. In the grand scheme of things China will likely suffer worse than us.

 

[The Barbarian]

True. In the grand scheme of things China will likely suffer worse than us.

We'd both take a beating, but I suspect China would get the worst of it. It's actually not a bad thing. This is a powerful disincentive for both nations to get aggessive with each other. It's one of the reasons Hamilton got the Interstate Commerce Clause in the Constitution. He intended to tie the states together by linking their economic fates to each other.

 

[hislegacy]

Not from their POV. Their economy is now hugely dependent on ours. If we were to shut off trade with China, it would be really damaging to us, but a catastrophic hit on them. Even the Trump recession was a major hit. From last March:

Yet the economic damage to China is severe, and its prospects for recovery—even with massive financial support—remain uncertain. Sustainably restoring China’s productive capacity in the coming weeks would require an unlikely revival of U.S. demand. China’s recently announced economic indicators for January and February were much weaker than market watchers had forecast. Year over year, retail sales fell by 20.5 percent and industrial production by 13.5 percent—China’s worst numbers on record.
China’s Economic Growth Now Depends on the West

This is worse for them than it is to us. In the scheme of things, trade deficits are a problem only if an economy is not creating wealth to pay for it.

China has zero to worry about. As long as the payments continue to joe and his family members they will have open channels to the US market.

 

[The Barbarian]

China has zero to worry about.

They are already concerned, rightly so, that the US is re-engaging with Asian nations, which threatens their intended cultural and economic domination of the region.

As long as the payments continue to joe and his family members

You're thinking of these issues...

China Paid Trump $5.4 Million Since He Took Office

and...
Trump’s Personal China Dealings Resurface in 2020 Race

Trump's children take in millions overseas as president slams Biden's son

 

[hislegacy]

Has zero to do with their long-standing interaction with joe and his family.

They have been connected financially since joe was vp.

If you are not raising a flag on them, raising a flag on Trump is moot.