Forget about China’s so-called “debt trap diplomacy” – it’s a mere mousetrap compared to the jaws of two more vicious traps that are waiting to close on the global economy. One is the generalised (public and private sector) debt trap and the other is the more insidious “QE (quantitative easing) trap”. Both have been masked by the high-profile threat of trade and economic wars between the world’s two biggest economies – the United States...