I want to focus on crypto but tariffs wars are getting really bad.

And I believe the West deeply misunderstands China in this context.

I dated a Chinese girl for three years, and it made me realize that the Chinese can suffer more pain than the Americans.

For Americans, it might appear to be just a tit-for-tat trade maneuver.

But Chinese motivation to fight comes from long history of being pushed around.

From 1839 to 1949, China suffered the “Century of Humiliation.”

It began when Britain flooded China with opium.

Chinese wanted to stop using drugs but the West forced opium to China at gunpoint.

After the First Opium War, China was forced to give away Hong Kong, open up to British traders, let them operate freely.

And pay huge financial reparations... for resisting drugs being pushed to their own people...

The Second Opium War saw Britain and France burning down the Summer Palace (one of China’s national treasures) just to make a point.

Then Japanese came, losing Taiwan and, again, paying reparations.

Desperate to push back, Chinese peasants started the Boxer Rebellion in 1900.

They tried to expel all foreigners. But it backfired.

An alliance of 8 foreign powers invaded:

• China had to pay fines for 39 years with interest.

• Foreign troops were stationed in Beijing permanently.

• China had to destroy its own forts and allow foreign control over key areas.

All economic control was gone.

China couldn’t set its own tariffs as Western countries dictated import taxes.

So China flooded with foreign goods but it couldn’t protect its own markets or industries.

My ex-gf studied this in school and throughout the years.

So today, when the US raises tariffs, I think China doesn’t just see as trade but it sees a challenge to its independence and pride.

And it responds like a nation that swore: never again.

Btw, correct me if I am wrong here. This is just what I believe to be true from my learning.

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