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>the cold war with the other one is just now spinning up

This can't be the correct explanation since the China exclusion is not recent.

Is anyone still investigating who started that Bloomberg fake news that kick-started the entire 5G/Huawei conspiracy ? I mean there was no proof that anything weird is happening so I am still wondering if there was a government Agency or some rich dudes that started this.

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The cold war with China started 25 years ago.

No, until a couple years ago there was the expectation (hope?) China would become more liberal and closer to the West. A lot of economic concessions were made with that expectation in mind. Turns out we were wrong.

What would you say was the event that kicked it off?

US passed a Chinese Exclusion Act in 1880s.

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