What happens when trust in longstanding economic norms starts to break down? In this episode, economist Chang-Tai Hsieh explores the geopolitical and economic consequences of the Trump administration’s foreign policy, particularly its approach to China. From China’s post-COVID recovery stumbles to a global flood of low-cost EVs, Hsieh unpacks the domestic roots of China’s malaise, the surprisingly muted bite of Trump-era tariffs, and why Canada, not China, may be the unexpected target of economic aggression.