Many brothers have not understood, what is the essence of China-U.S. trade?

China exports deflation to the U.S., while the U.S. exports inflation to China.
Over the past thirty years,
China has produced more and more industrial goods, but has not had enough purchasing power, continuously accumulating deflation risks.

The U.S. has printed more and more money, but does not have enough corresponding goods, continuously accumulating inflation risks.

However, this has allowed the two sides to export inflation and deflation to each other through bilateral trade,

maintaining a slight inflationary environment for both sides over the past two to three decades.

Then, the trade war came.
China lost the largest consumer market in the world, the U.S., and could not digest its own production capacity.
The U.S. lost the largest industrial capacity in the world, China, and could not digest its own currency.
As a result, everyone saw a shouting match across the Pacific, with high blood sugar and low blood pressure.

One side desperately raises interest rates to control its own inflation.
The other side desperately lowers interest rates to avoid falling into deflation.