Adam,

Isn't there a big difference between these two 'Cold War' situations. In the first 'war' between the USA and USSR, the USA at times had considerable trade with the USSR, notably supplying wheat when crops failed in the late 70s & early '80s and the USSR had IIRC very little trade with the USA.

In the second 'war' China is a huge exporter to the USA, notably in consumer goods - as we found two years ago in several stores e.g. Walmart. Yes the USA does trade with China, but not on the same scale. is it not hard to be at war when this situation applies? Not to ignore Chinese investments and the purchase of US Treasury bonds.