The Economist nailed it: "In global trade, limitation is the sincerest form of flattery."

China's export machine keeps growing. The rest of the world? Throwing up tariffs and restrictions.

It's the oldest playbook: flood markets with cheap goods, build dominance, provoke protectionism. Nobody wants to admit they can't compete, so they just block the door.

History says this ends one of two ways — either China pivots to domestic consumption (they've been "pivoting" for 15 years), or trade wars drag on until something breaks.

Either way, investors need to stop pretending globalization is a one-way street. Supply chains are fragmenting. Costs are rising. The era of frictionless trade is over.

Plan accordingly.