Here's your summary from Trump Picks Vance as VP; China Stocks Sink | Bloomberg: The China Show 7/16/2024 (https://www.youtube.com/watch?v=Fl2xLzGEy7A) on the Bloomberg Television channel:
### TLDR:
Traders are cautious due to potential second Trump presidency, with focus on tariff threats and Fed Chair Jay Powell's comments on inflation. China stocks are sinking as Trump picks J.D. Vance as his running mate.

### Key Points:
1. Traders are positioning for potential volatility around tariff threats and multiple rate cuts this year.
2. Donald Trump picks J.D. Vance as his running mate, signaling a generational shift for Republicans.
3. China stocks are sinking as investors focus on Trump's protectionist policies and higher tariffs.
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