Peter Morici: Trade will be the toughest test for Biden’s foreign policy

At best, the U.S. and China are in a stalemate and at worst, we could be pulled into a ruinous confrontation that establishes China as the pre-eminent power in the Pacific.

At best, the U.S. and China are in a stalemate and at worst, we could be pulled into a ruinous confrontation that establishes China as the pre-eminent power in the Pacific.