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Comment on Trump Threatens 104% Tariffs on China as the Mad King Plays Chicken With the Global Economy

Yep, we are watching the active teardown of the global trade infrastructure that has been built over the past 5 decades.

That international trade has been the single largest deterrent to international warfare. Neighbors who actively trade are far less likely to go to war with each other. Powerful nations have an interest in exploiting less powerful nations economically rather than conquer them militarily - it’s cheaper, and you can extract value from the exploited nation over an extended period rather than gain some short-term value while destroying the source of that value. The exploited nations benefit by not being attacked, and may have more flexible options for improving their position economically (i.e. Japan in the electronics market in the 1980s).

The Trump administration looks like when a new manager takes over a functional team, doesn’t know how anything works, can’t be bothered to try to understand, and just starts breaking established processes to prove that they’re in charge.

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MehBlah@lemmy.world ⁨1⁩ ⁨week⁩ ago
China will suffer from reduced sales. The rest of the world except the US will reap the benefits of this.

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- Litebit@lemmy.world ⁨1⁩ ⁨week⁩ ago
  lol no, American will still buy China goods and pay the higher tax (tariff) rate to Trump due to lack of alternatives.
  
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mjhelto@lemm.ee ⁨1⁩ ⁨week⁩ ago

The Trump administration looks like when a new manager takes over a functional team, doesn’t know how anything works, can’t be bothered to try to understand, and just starts breaking established processes to prove that they’re in charge.

Except in places I’ve worked where this happened the new boss was on probation and could more easily be let go for poor performance. We tried something like that with tRump with two impeachments.

There’s no such thing as a recall election for the president, at least not for 4-years. And that’s a long time from now. Took only 80 days to get here from inauguration. We, and the global markets, will never recover if they leave it to us to fix it. Rest of the world can go on without us.

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