Welcome to Magazine Premium

You can change this text in the options panel in the admin

There are tons of ways to configure Magazine Premium... The possibilities are endless!

Member Login
Lost your password?

A US-China win-win?

December 18, 2019
By
https://www.theatlantic.com/magazine/archive/2018/03/trump-china/550886/
The NYTime’s favorite storyteller on the US economy, Paul Krugman, spins yet another story about how, “Trade wars rarely have victors. They do, however, sometimes have losers. And Donald Trump has definitely turned out to be a loser.”
Wrong. Trade wars always have victors, and it is always the Wall Street 1%. To Wall Street, Trump is the loser as he did not fulfill any of the promises that he made regarding China and the trade deficit, of liberalizing China’s red-lines of State ownership, the theft of intellectual property, and the forced transfer of American technology to China.
But hear me out, it’s possible– just possible– that Trump’s concessions to China, may have really been the right choice.
Trump inherited Clinton’s neo-conservative hard-line policy under Obama, a sinophobic fear mongering conceit that both liberals and conservatives jumped on when they realized that the 2008 financial collapse really was a systemic failure, and not just a corrective hiccup.
The containment and destabilization of BRICS, and the Belt and Road Initiative has cost the United States legitimacy and trillions of dollars, and if anything has unified the developing world to signing on to alternative non-US led trade integrations– the biggest ones of all AfCFTA and the soon to be signed RCEP.
The US has had to resort to regime changes to prevent further integrations from happening, but this in time, will correct itself as Argentina has. Bolivia, Ukraine, Honduras, Syria, Yemen, Brazil, Chile, Ecuador… it is only a matter of time before these countries will too correct the neo-fascist hiccup.
Trump’s so-called failure may really just be the greatest victory for the world– and could very well place the US economy back on track as it begins to work with the BRI, rather than against it. Xi, He, and Shan may have successfully brokered a China-US win-win.
Print Friendly