Undermining the case for a trade war between the U.S. and China

Arguments are put forward to challenge the case for a trade war between the U.S. and China. The threat of a trade war against China is based on three pillars: (i) the Chinese currency is undervalued, (ii) undervaluation of the yuan is the cause of and cure for the U.S. massive trade deficit, and (iii) Chinese policies are illegal and immoral because they hurt not only the U.S. but also the rest of the world and China itself. It is suggested that no one really knows whether the Chinese currency is undervalued or overvalued, that revaluation of the yuan will not eliminate or reduce significantly the U.S. deficit with China and that Chinese policies are neither illegal nor immoral