Free Trade Is Dead and China Killed It with a Surplus

China's $1 trillion current account surplus marks the end of free trade as the West's default economic model. Vincent Deluard, Director of Global Macro Strategy at StoneX Group, explains why the shift from the Chips Act to sweeping tariffs represents a break in U.S. policy that cannot be reversed. Discover Actionable Global Macro Insights with StoneX Market Intelligence: https://shop.stonex.com/products/glob... Like and subscribe for more financial market insights. #StoneX #VincentDeluard #GlobalMacro #AI #Trade #China #Industry #FreeTrade #Tariffs 00:00 - How China Changed How Governments Think About Industrial Policy 02:16 - How Successful China's Model Has Been 03:23 - Is the West Starting to Copy China's Strategy? 05:04 - Is Tech Leadership More Important than Military Power? 07:41 - Can China Sustain their Economic Model?