I think this explains quite well the likely outcome of the Donald's recent escalation of his trade war with China. It also shows quite well the general public's lack of understanding of what the Donald is doing to the economies of America and the rest of the world.
And it's all so pointless: analysts estimate the US tariffs on China only affect 2.5 per cent of total Chinese exports and about 2 per cent of total US imports, whereas China's planned 25 per cent tariff applies to about 38 per cent of America's exports to China, but would affect just 2.7 per cent of China's total imports.
Everyone ends up losing during a trade war but while it's little more than a rounding error for China, it will hit the USA economy hard. Not that the Muhammad Ali of American politics will be around long enough to see it happen. "The Art of the Deal"? I'd rather read "Mein Kampf".
