News Snapshot:
How can China clobber America? This question has consumed wonks since the noughties when China began to creep up on a terror-and-subprime ravaged America. Military experts thought China would reconquer Taiwan, forcing America to fight a conventional war on China’s turf. Energy specialists thought China would use its “nuclear and gas influence” over Europe to weaken NATO. Techies propagated China’s legendary capabilities in cyber-attacks and robotics to write America’s obituary in futuristic battlefields. But hardly anybody thought China could use an economic weapon against America, although the portents of a “wealth attack” were hiding in plain sight. Let’s go back...
