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.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Hydrogen isn’t the fuel of the future. It’s already here

Manufacturing is finally entering a new era

Foreign investment to be screened to protect EU countries’ strategic interests

‘Bring to life’ precious moments caught on film or tape, UN agency urges on World Day

A seafood fraud investigation DNA tested fish sold in the US. Here’s what they found

MWC 2016 LIVE: T-Mobile US reveals 5G trial plans

EU Budget: A Reform Support Programme and an Investment Stabilisation Function to strengthen Europe’s Economic and Monetary Union

Modern society has reached its limits. Society 5.0 will liberate us

Security Council discusses chemical weapons use in Syria following latest global watchdog report

Why tourism policy needs to use more imagination

Trade surplus up production down in Eurozone

Cleantech innovation is being stifled. Here’s how to unlock it

From social entrepreneurship to systems entrepreneurship: how to create lasting change

Is Erdogan losing game and match within and without Turkey?

Brussels wins game and match in Ukraine no matter the electoral results

These are the world’s 10 most innovative economies

End racist discrimination against Afro-European people in the EU

Landmark EU Parliament – ECB agreement on bank supervision

Judicial independence under threat in Nigeria, warns UN rights expert

“Health and environment first of all”, EU says with forced optimism after 7th round of TTIP talks

Niger population’s suffering ‘increasing with each passing month’: UN Refugee Agency

An American duel in Brussels: Salesforce against Microsoft over Linkedin deal

Systems leadership can change the world – but what exactly is it?

The time for cities to get smart is now

Brexit: new European Parliament reaffirms wholehearted support for EU position

Worldwide UN family celebrates enduring universal values of human rights

UN Chief ‘strongly rejects’ Guatemala decision to expel anti-corruption body

Superconductors: the miracle materials powering an energy revolution

EU and China seize momentum to enhance trade agreements in response to Trump’s administration

The challenges of mental health among the Syrian medical students

Vital food crops destroyed in Syria amid upsurge in fighting across Idlib, Hama

The Parliament paves the way for the creation of the European Banking Union

Air quality: Commission takes action to protect citizens from air pollution

EU Commission: Germany can make Eurozone grow again just by helping itself

China will be the world’s top tourist destination by 2030

Eurozone: Austerity brings new political tremors

In Tanzania visit, UNHCR official stresses freedom of choice is crucial for refugee returns

UN political chief calls for dialogue to ease tensions in Venezuela; Security Council divided over path to end crisis

If Macron defies Britain about the banks, Paris and London to clash over ‘La Manche’

Road use charges: reforms aim to improve fairness and environmental protection

5 ways to boost sustainable trade in the world’s poorest countries

To win combat against HIV worldwide, ‘knowledge is power’, says UNAIDS report

Global ageing is a challenge – and an opportunity

The quality of health education around the globe

These are the best cities for tech

Parliament to ask for the suspension of EU-US deal on bank data

Five cities short-listed to become the European Youth Capital 2017

Does the EU want GMOs and meat with hormones from the US?

Rising political extremism in Europe escapes control

European Commissioner for Youth wants young people to be at heart of policy making

Minority governments ‘à la mode’ in Europe but can they last long?

SMEs are driving job growth, but need higher investment in skills, innovation and tech to boost wages and productivity

Where America’s refugees came from in 2018

Measles cases nearly doubled in a year, UN health agency projects

Google’s bare truth: Europe’s Chief denies EU accusations but admits they “don’t always get it right”

Where will evolution take us in the Fourth Industrial Revolution?

A Sting Exclusive: EU Commissioner Mimica looks at how the private sector can better deliver for international development

Climate activist Greta Thunberg urges MEPs to put words into action

Parliament pushes for cleaner cars on EU roads by 2030

Parliament votes reform for better European Co2 market but critics want it sooner than later

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s