So, I just spent two days in South Korea. To be honest, I did more talking than listening -- 3 speeches; so arguably the most important thing I learned is that 14 hour plane flights are hell, even in business class 1/
But one thing I kept hearing from Korean businesspeople was how scared they are of side effects of the US-China trade confrontation. You see, while, America does run a big deficit with China, the true imbalance is a lot smaller than the headline number 2/ cfr.org/blog/right-and…
One main reason is that Chinese exports to the U.S. contain a lot of content produced elsewhere -- especially Korea and Japan. So the amount of Chinese business and Chinese jobs at stake is smaller than it seems, while the risks to third parties are big 3/
