Concerning trade disputes between China and the United States, Anbound has repeatedly pointed out that China's manufacturing industry is an "embedded" industry with two ends outside, embedded in global industries and market chains, and the trade war does not solve the problem. Interestingly, a recent article by the Nobel laureate economist Paul Krugman also stated that the trade imbalance between the United States and China is largely a kind of statistical illusion. China is the Great Assembler. It's not clear that China could even do much to reduce its bilateral surplus with the US: To do so, it would basically have to have a completely different economy. And this just isn’t going to happen unless we have a full-blown trade war that shuts down much of the global economy as we know it.