I love how the grand statement is made, but the conclusion was already true. In reality the Chinese government was ready for the tariffs, and they didn’t panic, and that’s true for most countries around the world.

Why didn’t they panic? Because the US era of global economic dominance has ended. Other countries working together are more than capable of sustaining a stable global economy. They all know it. Everyone knows it except for some small percent of the American public who wants to hold on to American exceptionalism as long as possible.

And this is a good thing. It should not be the case for the globe that the US controls everything. It’s just a bad idea in general, and it’s certainly a bad idea under Trump.