Former WTO head Pascal Lamy still prefers negotiated rebalancing to protectionism, but he now acknowledges that if China will not rebalance, European governments may be forced to implement protectionist tariffs.
China into the WTO drove disinflation for 20 years.
The US is now trying to economically divorce China, reshore its withered industrial base, as US foreign policy is constricting a critical global commodity chokepoint, all into 7% of GDP deficits.
Why would inflation come down?