At a time of maximum tension in the U.S.-China relationship, news of the arrest last weekend of a top Chinese tech official in Canada managed to set off multiple shock waves Thursday, shining a harsh light on U.S. and allied concerns about Chinese state-backed corporate giants, massively complicating a trade war 'truce' just negotiated by President Trump and Chinese President Xi Jinping, and — for a few hours — threatening to buckle global stock markets and wipe out a big chunk of the recent Wall Street gains Mr. Trump is fond of trumpeting.
President Trump in the last two years has never missed an opportunity to tout his $700 and $716 billion budgets to rebuild the 'depleted' U.S. military. He also has vowed to rebuild America's nuclear arsenal by adding new low-yield weapons. He further has announced his intention to abandon a landmark Cold-War era arms control treaty with the Russians. Now, in a single tweet, the president has signaled he’s rethinking the whole idea of winning an arms race by outspending and outlasting America’s adversaries.