China may regret not buying insurance if Donald Trump wins the election

China is preparing for a second Trump administration. The former US president, who has a chance to retake the White House, has promised to raise tariffs on Chinese goods minimum 60%. Mainland China’s economy, hit by an epic real estate crisis, cannot afford another trade war.

In theory, China could cushion the shock of Trump 2.0 by buying some insurance—for example, improving relations with the European Union and Japan, its second- and fourth-largest trading partners, respectively. (USA third.)