The US House of Representatives’ China committee has urged Congress to pass legislation requiring the Federal Reserve to determine how resilient the American banking sector would be in any conflict with China.
The committee said the Fed should be required to stress test banks to assess “their ability to withstand a potential sudden loss of market access to China”. The measure was among dozens of recommendations in a report on Tuesday about enhancing US economic competitiveness to counter the rise of China.
I thought the purpose of free trade and globalismo was to prevent these kinds of things? If we all trade with each other we wouldn’t want to risk our “good times” and profits and would therefore stay away from war. (just being a jerk about it.)