The U.S. — China trade dispute is rooted in poorly designed Intellectual property (IP) rights.

The U.S. — China trade war has seen a slew of tariffs from both countries, causing imports of goods and services to fall 25% and 10% respectively. As the risks of a broader decoupling fall following a truce, business investment has nonetheless remained tepid, with sentiment falling well below the longterm average. I discuss the implications of the trade war here.