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New U. S.-China Rivalry Risks Lethal Confrontation

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NewsHubSHANGHAI—China didn’t invent the brand of mercantilism that Donald Trump rails against; it copied the playbook from its neighbors.
Japan grew rich by promoting exports while protecting its own industries. So did South Korea. They both manipulated their currencies and showered favors on politically connected business cartels, skewing domestic competition.
But here’s one major difference: these trading powerhouses together with…

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