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Jake Werner on US-China relations in the context of the trade war. We discussed why Donald Trump has dialled down his rhetoric over tariffs, and why the term "decoupling" hardly captures the severity of what a breakdown of the economic relations between the US and China will look like. We also talked about the prospects of increased military tension, and whether we can expect the development of proxy wars between the two powers as the relationship between the US and China deteriorates further.

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Jane Hayward

Thanks, fantastic discussion, and very timely. I’m a big fan of Werner. Don’t think he’s quite fair to Michael Pettis here though, who I think has more of a global and structural argument, and historical account, than he’s given credit for here.