When economies go through structural upheaval, inevitably some people win and some lose. The causes of this are complex, but people tend to prefer simplicity over complexity—and look for a single scapegoat to blame. Foreigners make an ideal scapegoat. Sino-US relations represent this trend. The US is complaining about “unfair” Chinese national champions. China is complaining about US-led efforts to “suppress” China. Scapegoating distracts from more serious structural problems in each economy.
