sure only 1/3 of the world's transactions happen in yuan. 2/3 in dollars. but an embargo on chinese (and taiwanese goods) is not going to sink them. They have the largest world population and along with the BRICs could freeze out the US. Japan was a drop in the bucket compared to the BRICs
Agreed. Such an action would most likely hurt the US significantly, as where else would we get our goods? Tariffs were added to imports during the start of the great depression to try and make American goods more attractive (stamp out competition), and it is one of the significant reasons the depression went on so long. How did Trump's tarrifs against China do?
