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China is facing a double whammy: corrosive deflation and tariffs that threaten to block trade. Chinese workers will be the biggest casualties.
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To maximize the impact of tariffs, Washington wants to ensure China cannot trade more with other countries. But Beijing is a tempting trade partner.
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In the market chaos since April 2 "liberation day", investors are appearing to view India as a hedge against a potential flux in trade flows in the future.
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