I don't know who needs who more. But, Trump's and his economic measures are at minimum successfully making the point that its not all about China's leverage on the US, but also vica versa. All of a sudden the US have some economic power over China. Of course we always did, but no other President (I am saying this in spite of the fact that I do not support Trump) was willing to use it b/c they were scared of the repercussions. Now, a tradewar could f us both totally up. But you have to be willing to take some pain in order to make a point that's important in the long run. Whatever may happen to the markets.
Plus China, more than the US, has to be concerned about economic problems leading to very dangerous revolts against the government. Not that that would be a good thing for the US'
And its the same thing with everyone saying "China has tremendous leverage over the US because they owe an astronomical amount of US debt....what happens if they stop buying or whatever...'
Well, imo, the US also has lots of leverage over China for that same exact reason. What happens to China if that huge asset on their balance sheet falls?
As the old saying goes, .'..owe the bank a million, and the bank owns you; owe the bank a bazilliongazillion and you own the bank.'
