There has been growing talk about derisking and or decoupling trade with China as if this is something like a switch to either turn-on or turn-off. The global economy does not work that way. Supply chains are not easy to change. Capital has been committed across borders. Industries have developed around geographic locations for the simple reason that resources are in certain regions of the world. This is especially true with production for some key security technologies.
The US and the world are especially sensitive to trade with China and the idea that we can decouple or derrick in the next year or two or five is just fantasy. These industries will be a major stress point for markets over the next half decade.
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