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Two of the world’s largest economies have been at loggerheads in 2020, and neither side will step back. When the US closed the Chinese consulate in Houston after accusing Beijing of espionage, the predictable retaliation came with the shutting of the US consulate in Chengdu.

Last week, Donald Trump put Hong Kong executive Carry Lam on the list of 11 Chinese leaders singled out for targeted sanctions. China retaliated by putting US senators on its sanctions list. Pushing back on Chinese tech companies, Trump has announced that he intends banning popular apps TikTok and WeChat...

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