How will the US-China trade tussle end in a globalised world?

As economists scramble to find answers, game theory rather than history may be the best guideThe trade confrontation between the United States and China is heating up. After firing an opening salvo of steep tariffs on steel and aluminium, the US administration has released a plan for a 25% tariff on 1,333 Chinese imports – worth about $50bn (£35bn) last year – to punish China for what it views as decades of intellectual property theft. China has fired back with a plan to slap 2