wojtek wrote: Fri Apr 04, 2025 10:56 pm
OK, I'll post this even though it'll be controversial.
Oh dear, imagine calling Trump a socialist, how can the poor man ever recover from such a slur. SMH.
US budget deficits were manageable while the USD was the global reserve currency, the world traded with dollars so needed dollars. The US just needed to print them and hand them over for goods.
But the world is turning and there's a new player in town who has goods to sell and increasingly doesn't need the USD to do it.
The US at it's height once produced over 40% of the worlds manufactured goods now, comparatively, it produces next to nothing.
China meanwhile is currently estimated to account for approximately 30-35% of global manufacturing output.
The US embarked on mass outsourcing overseas in the 1980s in the name of globalisation, but now the whole globalism bandwagon is running off the rails (authoritarian over-reach) and the US needs to start producing something again other than just printed dollars.
Hence tariffs to even up the playing field, US manufacturing is encouraged to expand due to the discouragement to import. It adds an 'equal' dimension to the 'free' and 'fair' aspects already in place to world trade.
Of course it will work but it's a sign of a shift away from a hegemon unipolar world and towards a multipolar one, which is also a good thing for everyone in the long run and a more natural state of affairs from a historical perspective.
Watch next for individual European states to start exercising a more independent streak and look to escape the straight jacket that is the European Union which is a authoritarian globalist construct to it's core.
And next on the EU 'To Be Banned' list
Soon to be put on the EU 'To Be Banned' List
Nice work if you can get it!
Imagine deindustrialising yourself but what really upsets you is Trump.