ttystikk
Well-Known Member
https://www.nakedcapitalism.com/2019/09/the-us-massively-underestimates-the-trade-war-blowback.html
Yes, we hurt Russia, China and Iran- just enough to drive them into each other's arms. China will now buy Iranian oil and finance their oil production and other infrastructure projects. Oops!
Russia is supplying more energy to China than it does to the EU, while Chinese investment is speeding development of Russian projects. Rats!
The EU, cooperating with US sanctions, embargoed food exports and in response Russia has become one of the world's largest producers of wheat, forever closing that market for the Europeans. Dang!
Europe has lost far more money due to the trade war than the United States, and hurting its future prospects for trade with Russia and China will not sit well with the Europeans.
Finally, all this trade will be conducted in local currencies, outside of the US backed SWIFT banking system. Once this transition is completed, US trade sanctions will become increasingly meaningless.
In short, Trump managed to fuck up America's credibility, standing in the world and markets for trade both for us and for the EU.
Yes, we hurt Russia, China and Iran- just enough to drive them into each other's arms. China will now buy Iranian oil and finance their oil production and other infrastructure projects. Oops!
Russia is supplying more energy to China than it does to the EU, while Chinese investment is speeding development of Russian projects. Rats!
The EU, cooperating with US sanctions, embargoed food exports and in response Russia has become one of the world's largest producers of wheat, forever closing that market for the Europeans. Dang!
Europe has lost far more money due to the trade war than the United States, and hurting its future prospects for trade with Russia and China will not sit well with the Europeans.
Finally, all this trade will be conducted in local currencies, outside of the US backed SWIFT banking system. Once this transition is completed, US trade sanctions will become increasingly meaningless.
In short, Trump managed to fuck up America's credibility, standing in the world and markets for trade both for us and for the EU.