When it comes to economics, president-elect [Donald] Trump has promised to revive American manufacturing, get tough on trade with China, cut taxes and invest in infrastructure.
A dramatic unwinding of that relationship [between USA and China], by way of an aggressive trade policy, is one of the nightmare scenarios for the global economy as a whole, because it would result in a spiraling depreciation of the dollar, a surge in American interests rates, a collapse in the market for American government debt.
The vast majority of Americans are employed in service sector industries, and many of those sectors are highly internationalized. The most high-value added sectors, notably the tech sector, is massively globalized. And, for them, it would be a disaster if America's trade policy was to go down a spiraling route towards protectionism.
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