"We will prevail." This has become the mantra in Washington and Beijing as relations between the two largest economies in the world careen down the path of a full-blown trade war.
As damaging as a trade war will be for the global economy, it is arguably part of a volatile sequence of events that suggests the US and China are sliding precariously into a new Cold War, the portents of which extend far beyond the rectification of the American balance of trade.
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