One popular, albeit informal, definition of a rat trap is an unpleasant situation that offers no prospect of improvement. The current trade spat between America and China may qualify as a rat trap, but only time will tell (along with the negotiating teams, of course). Personally, I would take this state of affairs – a prolonged trade war – rather than the low probability of a serious escalation into something that resembles an all out war, whatever that might look like between these 2 tantrum-prone superpowers.
Some of the more dramatic and alarmist commentaries revolve around the ‘Thucydides Trap’ thesis. This thesis, developed by Professor Graham Ellison of Harvard University, postulates that there is a high possibility of an all-out military conflict between America and China.