Looks like Trump is running amok with his “trading policies”. Not only has he upset the European Union – which doesn’t deserve any better, frankly, for having been and still being submissive vassals against the will of by now 90% of Europeans; but he has also managed to get China into a fury. Well, for China it is really not that important, because China has plenty of other markets, including basically all of Asia and probably increasingly also Europe, as Europe increasingly feel the need for detaching from the US.
What is striking, though, is that even at the outset of the G20 Summit now ongoing in Buenos Aires, Argentina, Trumps Ministers have made it clear that unless Europe cancels all subsidies – referring primarily to agricultural subsidies – and eliminates the newly imposed retaliatory import duties, new trade deals are not going to be discussed. Never mind that the US has the world’s highest farm subsidies.
From afar this looks like the most wicked and non-sensical trade war the US via Trump, is waging against the rest of the world – à la “Make America Great Again”. Will it work? Maybe. One can never predict dynamics, especially not in a neoliberal western world that is used to live on linearism, which by definition is always wrong. Knowingly and deliberately the west and it’s financial key institutions, IMF, World Bank, FED, European Central Bank – trick the public at large into believing their statistics and predictions – which, if one goes back in history, have always been off, way off.
All life is dynamic. But to understand this it takes independent thinking – which the west has long given up, unfortunately.
So, in response to the latest Trump-promoted trade fiasco at the G20 in Argentina, the IMF is up in arms, saying this might lower world GDP by at least 0.5%. – Even if true, so what?
In reality, there is a totally different scenario that nobody dares talk about.
Namely, what renewed local production and monetary sovereignty can bring to the world economy; precisely what Mr. Trump says he wants to propagate for the US of A – local production for local markets and for trade with countries that respect mutual benefits. The latter is of course a question not easily achieved by any trade deal with the US. But the former is an enormous economic power keg. The stimulation of local economies through internal credit, is the most commanding means to boost local employment and GDP.
Then there is the sanctions game. It’s getting ever more aggressive. New sanctions on Russia, new sanctions on Venezuela – and new heavy-heavy sanctions on Iran. And the European puppets still follow suit, although they are the ones that most suffer from US sanctions imposed on others, especially because out of ‘stupidity’ or fear, they cannot...