Trump wants to implicate China in US attacks against global order

Photo by M. B. M. on Unsplash

Global trade prospects and order is in the hands of a New York bankrupt realtor who is addicted to risk. He doesn’t care if his moves in the trade negotiations harm his own country, as long as the spectators applaud. On Thursday 9 May the American President Donald Trump didn’t hesitate to hike import tariffs from 10% to 25%  on Chinese goods of a value of $200 billion, whilst the Chinese vice Premier Liu He was in Washington to tie up the trade agreement but in vain. Understandably, China is expected to take countermeasures.

The only White House worry must have been how this new Trump thrust will play in the American media jungle. Thank God, the Chinese dignitary didn’t quit the trade talks’ table to return to Beijing but remained in Washington D.C. Liu accepted to continue participating in the negotiations and met again with the U.S. Trade Representative, Robert Lighthizer and the Treasury Secretary, Steven Mnuchin.

Trade talks to linger

This development gave Trump the opportunity to boast about what he had ‘achieved’. The next day after he astounded Liu He with the increased tariffs, he said in a tweet: “Over the course of the past two days, the United States and China have held candid and constructive conversations on the status of the trade relationship between both countries. In the meantime, the United States has imposed Tariffs on China, which may or may not be removed depending on what happens with respect to future negotiations”.

During two difficult days the world was holding its breath. On Friday morning the Wall Street capital market opened violently lower. It recovered some of the losses only when it became clear that the Chinese mission decided to remain in the current round of trade talks. Similarly difficult settings overwhelmed world’s main markets.

Europe alarmed

Also, on Friday, the French Minister of Finance, Bruno Le Maire, swiftly commented negatively on this new dangerous Trumpism. He stressed “an escalation in the trade dispute between China and the United States posed the gravest threat to global growth and threatened jobs across Europe”. Le Maire added, “There is no greater threat to world growth. It would mean that trade tariffs go up fewer goods would circulate around the world. Jobs in France and in Europe would be destroyed.”

Indisputably during the last two days of this past week the major capital markets of the world have suffered massive losses amounting at around $2 trillion. Undoubtedly, Trump’s game with global trade order is dangerous and costly, even for his own country. Still, he doesn’t care as long as his macho style of foreign policy receives applause in the American Midwest.

Bullying everybody

Trump’s aggressive ways are also in motion against Iran and Venezuela. In the last case Trump even contemplates taking the “offer” of the private army ‘Black Water’ founder Erik Prince. This warmonger proposes to launch a ‘private’ military assault against the elected government of Venezuela to overthrow Maduro. Of course, this ‘private’ military assault will be on US taxpayers’ ample funding. For decades stealing the oil reserves of another country has been a standard option for Washington. However, now it will be the first time Washington exclusively employs a ‘private army’ on public pay, to invade another country. ‘Black Water‘ has proudly acquired its know-how in Iraq.

Undoubtedly, privatization is reaching new heights in Trump’s universe. Still it’s only privatizations in name, because such projects usually absorb more taxpayers’ money than before. It’s the super generous subsidies that make privatizations attractive. This is the neo-liberal latest invention and it’s actually a swindle of global dimensions.

A huge swindle

All in all, the latest Trump games with the global trade order have to be seen as a part of a greater picture; there are power circles in the US and elsewhere promoting more neo-liberal cheating. Actually, Washington asks Beijing to support this drive. The White House characteristically demands that the Chinese government abandons its multiannual economic development plans and leave overall economic growth in the hands of the private sector. Naturally, this lucrative new market has to be open to US firms.

This is the main obstacle for Beijing to agree a viable bilateral trade agreement with Washington. Beware however; this new American drive for more ‘privatization’ stems from the need for new private profit sources, to sustain the ever increasing incomes and wealth inequality. The US economy is today around 50% straight public (adding all levels of government; federal, state, county). It used to be more public some years ago.

All in all, the White House risks to dangerously disturb global order in trade and otherwise in order to ‘globalize’ its wicked neo-liberal thrust, for more privatizations on the shoulders of taxpayers’ money. It’s actually the only way for the big business to turn out more ‘real’ profits This endeavour has already triumphed in education, health and the military and the space constellations.