A trillion dollar threat. Can Trump punish China and America for slipping into the ranks of developing countries

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A trillion dollar threat. Can Trump punish China and America for slipping into the ranks of developing countries

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US President Donald Trump announced Thursday that he had seen evidence of the spread of the Corunna virus that had started from the laboratory of biological experiments in Wuhan, China.

As if Trump had found a new opportunity to exercise his favorite hobby by imposing economic sanctions, he hinted that he could punish China by imposing tariffs on its imports to raise $ 1 trillion in compensation. the economic losses it caused as a result of the general closings imposed to curb the spread of the Corona virus.

But can Trump really implement his threat? Or in other words: is the US economy still in a position of power and control that allows it to compete with and punish the Chinese economy?

In ten years, when economists tell of the moment when U.S. President Donald Trump abdicated world leadership in China, they will remember that moment was last week, according to Forbes magazine.

The magazine pointed out that last week was the time when Chinese President Xi Jinping decided to inject 4 trillion yuan (565 billion US dollars) into the Chinese economy, which is growling under the stress of the Corona virus crisis and general closure measures.

On the other side of the globe, less than 24 hours after the Chinese President announced injecting $ 565 billion into the economy of his country, the leader of the majority of the Republican Party – to which Trump belongs – to the American Senate, Mitch McConnell voted against a proposed plan to pump the American government. $ 600 billion in the infrastructure sector, which justifies it because the infrastructure sector is far from the economic impacts of the Corona virus crisis.

The magazine added that the trillions of dollars that China has injected into the “Made in China 2025” initiative have placed the country in the leader seat of the future of artificial intelligence, automation, renewable energies, autonomous vehicles and other products of modern civilization and the future.

In contrast, as China prepares to lead the world economy in the near future, Trump has simplified his Chinese counterpart by doing this by trying to support as much as possible the reduction of fossil fuels as the world moves towards ‘elimination.

The magazine estimated that the three and a half years that Trump has spent so far as President of the United States have missed a historic opportunity for the United States to exercise its economic muscle and prepare to compete with China for leadership. of the world economy. It was better suited to the world and the economy of the eighties of the last century, but in 2020 such measures made it more difficult to cope with the economic repercussions of the Corona crisis.

The U.S. economy could have taken full advantage of the $ 600 billion in assistance that the Leader of the Republican Senate refused to adopt, not only would this create more jobs, but rather prepare the U.S. economy for a time when Chinese economic domination in the world would become a matter of inevitable.

The magazine concluded that every threat from Trump to impose additional tariffs on Chinese imports serves China more than it serves the United States, and by 2025, American investors will want Trump to follow the impact. of his Chinese counterpart on supporting his country’s economy, instead of letting the United States slip into the ranks of developing countries

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