The trade war between the United States and China has prompted many commentators to focus on the economic pain that will be felt by the two sides: hitting U.S. consumers in the pocket, and causing pain for Chinese exporters. There are a small number of supposed winners, with production predicted to shift from China to countries like Vietnam, Cambodia or India.
But there’s a far bigger concern, which is that decision-makers across the world have shifted sharply against the most powerful global economic development tool ever been discovered.