Unwinding From the Flat World

Commentary
Trade has always been a popular resource in “war,” but it has never been a very potent one. From Trump’s business sanctions on China to Western’s sanctions on Russia, most were ineffectual, if not worthless. As long as the goods purchased from China or Russia are not from a monopoly ( one single seller ) or from a monopsony ( one single buyer ), there is always a gap created by third parties who violate the law, opening up a loophole. Consequently, a trade battle’s impact on trade might be much less than most frequently believed….

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