The definitive guide to trade wars just dropped. Its authors have one message for Washington: Study your enemy
Soumaya Keynes and Chad Bown have released a new book, "How to Win a Trade War," offering a historical framework for understanding U.S.-China trade relations. The book argues that the U.S. is ill-equipped to handle the current economic rivalry with China, particularly regarding industrial policy. Keynes and Bown highlight China's success in dominating markets like electric vehicles through a combination of R&D funding and state-directed demand, contrasting it with U.S. approaches like the CHIPS Act, which they argue lacked sufficient demand-side support. AI
