Biden’s trade action against China is just polite Trumpism

News Snapshot:

These seemingly unproductive dialogues have nevertheless led to a gradual thaw in the US-China cold war. It is in the media’s nature only to notice when things go wrong. Biden’s talk of “managed competition” is neither detente nor war. Yet when US-China tensions rise again, as they undoubtedly will, this gardening will help. It is unlikely Yellen will get anywhere on Chinese dumping. This is in spite of the fact that the EU and others share America’s concern that their car and renewable energy sectors could be disastrously hit by heavily subsidised Chinese rivals. The problem of China’s overcapacity is...