China has transitioned from one of the poorest nations in the world to the second-largest economy with nuclear-armed forces growing at a record pace. Over the past 40 years, China has had the world’s fastest-growing economy with annual growth rates that often exceeded 10% a year. China’s economy grew over five percent in the first half of this year; the U.S. economy expanded by one percent. Meanwhile, U.S. tariff policy is losing friends around the world.
