Video on CNBC is embedded in there.
1. China’s economy is weak because of insufficient liberalization.
2. Trump’s unthinking protectionism hurts both sides, but China may be more vulnerable.
3. China’s cronyism presents a challenge for supporters of unilateral free trade.
4. Trump should have used the World Trade Organization to encourage Chinese liberalization.
5. The imperfect Trans-Pacific Partnership was an opportunity to pressure China to reduce cronyism.
6. Additional Chinese reform is the ideal outcome, both for China and the rest of the world.