China was still closed and outside of the trading system. The largest developing country with manufacturing exports was Taiwan. When China joined the United Nations in October 1971, Taiwan was no longer listed in the reports on world trade in manufacturers.

The U.S. and China have reached a trade agreement aimed at restoring rare earth and magnet exports critical to the auto industry.

exploring why Beijing may still have the upper hand and how far any decoupling of the two economies will go.

President Donald Trump has set off a fresh round of worrying about his approach toward the Federal Reserve with his statement that his pick for the next Fed chair is “coming out very soon.”