Neoliberalism Has Met Its Match in China. We’re in a Trade and Currency War

Neoliberalism Has Met Its Match in China. We’re in a Trade and Currency War

When the Federal Reserve cut interest rates on July 31st for the first time in more than a decade, commentators were asking why. According to official data, the economy was rebounding, unemployment was below 4%, and GDP growth was above 3%. If anything, by the Fed’s own reasoning, it should have been raising rates. The…