politics

Fallout from Trump's trade wars felt by economies around the world

19 Comments
By Andrea Shalal and Heather Timmons

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19 Comments
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What do all of these experts know that Donny doesn't?!

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A lot.

4 ( +7 / -3 )

One thing, when the United States meddles it does so in a big way. It might do the rest of the countries in the world better to disintangle themselves from the United States, and do things for your own good. Having the United States as a political, or economic partner is just as bad as having it for any enemy and America has gone completely rogue now. Cut off trade with the United States, and it will quickly discover that it cannot survive on its own. This maybe the last chance to break its strangle hold over you. I say this as an United States citizen who has long studied the history of the United States and how it treats all other countres.

4 ( +6 / -2 )

it's binary, you're either with the authoritarian states like China/Russia, or you're with the democratic camp.

Which is why it's time to make a third "camp".

3 ( +4 / -1 )

Australia's economic policies has been driven by miners for far too long, it needs to take some eggs out and put it in other baskets

Can't argue with that, but historically Australia has done very well out of what it can dig out of the ground or graze on top of it. I think 25-33% of Australia's total exports now go to China, coal, iron ore, wool... if it does all hit the fan with China, obviously there's really nothing we can do short-term to save ourselves from a severe downturn and worse. There's a strong awareness of that fact here, but also a blind optimism among our political classes that it won't happen. I hope that's true, but Trump's war with China isn't helping.

2 ( +2 / -0 )

Is this a surprise ???.

2 ( +2 / -0 )

Certainly had an effect here in Australia where China is Australia's biggest exports customer. The economy has a bad case of the shakes and uncertainty rules. Economic growth forecasts have been slashed and our superannuation returns are the lowest they've been for a long while.

I note this quote from the article:

This pain is not being shared equally. The United States remains the least exposed of the world's 20 largest economies to a drop in exports in part because of its massive domestic consumer spending base.

Oh well, if you're OK then I guess it makes it all right. Thanks, Donny, for your personal contribution to the economic impoverishment of the rest of us.

1 ( +3 / -2 )

If Western countries and Japan had seriously addressed the widening inequality early on, we wouldn't be having this debate.

1 ( +2 / -1 )

@BigYen

Australia doesn't have positive angle anywhere, because it's so exposed to China. If Trump:

Maintains decoupling - Australia loose because of exposure to China;

Relents on western allies - still doesn't help Australia;

Reverse course (unlikely) - Australia still loose because then China is controlling trade.

Australia's economic policies has been driven by miners for far too long, it needs to take some eggs out and put ut in other baskets, like construction and defense industries.

1 ( +1 / -0 )

Lesson: Never start a war with no strategy to win. Otherwise, morass.

1 ( +2 / -1 )

I also wouldn't be surprised if the president and family with friends are also involved with insider trading because this trade war and these random announcements filled with empty promises of success by the president are helping people make short term gains.

Some government agency that investigates stock manipulations with no connections to the president should investigate any irregular trading within the last 2-3 years.

1 ( +3 / -2 )

It might do the rest of the countries in the world better to disintangle themselves from the United States

@Christopher Blackwell.

Are you sure you haven't got USA mixed up with Russia?

USA has been instrumental in the prosperity of virtually every free democratic country on this globe. The Marshall plan resurrected Europe's nonexistent economy, similarly post war Japan, South Korea, Taiwan, etc.

Now compare that to Russian allies, in South America, Asia, they are all basket cases. China had help from USA to get where it is today, big mistake on USA part for hoping China will balance out Russia.

Also compare the French effort in Africa and parts of Asia, USA shines like no other. So What's changed?

Globalization means US corporations are no longer dependent on USA's military might, and the disconnect between government and corporations set in a chain of event that entails jobs, technologies, wealth are shifting to other parts of the world. USA government is loosing influence, it does not mean it will be beneficial for any country to disentangle itself from USA. Because it's binary, you're either with the authoritarian states like China/Russia, or you're with the democratic camp.

1 ( +3 / -2 )

Are you sure you haven't got USA mixed up with Russia?

Them too.

The fact is, the USA has shown that agreements with the USA only last until the USA decides something else. Look at Iran. Look a the kurds. Look at the Paris accord. Look at Iraq.

The US has shown itself to be like a drug addict. They're good, until they're not. So you can never really trust them.

It's definitely time for the world to disengage from the US. It's not fair that the rest of our economies are so affected by a president we have no say in. We need to insulate the rest of the world from that mess.

And the Trumpets agree on this one - they want to separate themselves from the rest of the world.

1 ( +3 / -2 )

If China played fairly we wouldnt have this problem

1 ( +3 / -2 )

American economy is booming, with record low unemployment.

Thank you! President Obama. The US economy had it's biggest improvement under President Obama since 2009 and is still going

The president does know how to run a business properly just like he doesn't know how to lead a country. He has only survived because he breaks the law any chance he gets.

Trump Cheated (Shocker!) on Property Tax; But Will Anyone Go to Jail?

https://news.yahoo.com/trump-cheated-shocker-property-tax-090337317.html

ProPublica published a piece Wednesday that put the spotlight once again on some questionable financial practices of the Trump Organization, which showed one set of books to banks (inflating value) and another to New York City tax authorities (deflating value).

First things first: Donald Trump has filed for corporate bankruptcy four times, in 1991, 1992, 2004 and 2009. All of these bankruptcies were connected to over-leveraged casino and hotel properties in Atlantic City, all of which are now operated under the banner of Trump Entertainment Resorts. The president’s companies have filed for Chapter 11 bankruptcy protection, which means a company can remain in business while wiping away many of its debts. The bankruptcy court ultimately approves a corporate budget and a plan to repay remaining debts; often shareholders lose much of their equity.

1 ( +2 / -1 )

American economy is less influenced because Americans are huge consumers, just a pity they spend even tho they have not any money, by creating debts crisis. Lehman Brothers crisis docet.

0 ( +1 / -1 )

Less than one year and three months to go. Please, Donny, just go to sleep for the next 15 months.

0 ( +2 / -2 )

American economy is booming, with record low unemployment. Trump's doing something right.

It's a trade war. There are going to be downsides for some sectors. Previous U.S. administrations ignored the China problem. Trump is taking it on.

Less than one year and three months to go.

You really think Mayor Pete can beat Trump?

No, it's 5 years and 3 months to go.

-2 ( +2 / -4 )

"Donny" just cares for his country. Is this strange for you? Lame US economy of Obama was OK?

-2 ( +0 / -2 )

Which is why it's time to make a third "camp".

Some would argue that Trump is the proposed third camp, ie shift power from global corporates back to national governments, drain the swamp (useless Washington hogs with the snout in the corporate trough), re-nationalize jobs. Not working though...or at least doesn't look like it's working. Because the two incumbent camps don't like any more competitors do they?

I think it'd be fair to say that post invasion of Iraq (to save the USD), followed by Obama bailing out banks (again to save the USD) that US corporates well and truely rules the world alongside Chinese/Russian state corporates.

Look at the headline of this article, corporates squealing, do you think it'd get the same attention if the headline had been communities reeling from skill and jobs losses, or intergenerational hopelessness etc....

-3 ( +1 / -4 )

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