Everything the USA did is just shooting its own foot.
But they do not think it is important. The USA is around just to take
all the benefits today and the future will look after itself. Their
toilet paper is going to remain the global reserve currency forever, or
so they think. They were wrong and found out too late.
The USA
wanted to take advantage of cheap 'slave labor' and moved their
manufacturing to China. They enjoyed the cheap products for decades,
made by Chinese and also their companies paying just 'slave wages' to
Chinese workers. It was a wonderful arrangement, with others producing
and USA citizens just merrily freeloading.
Then China progressed
by leaps and bounds over the last three decades and they were caught
flat-footed and suddenly they woke up and screamed that China stole
their jobs. They also accused the Mexicans and South Americans of
entering the country and also stealing their jobs. Jobs that their own
people do not want were stolen by Chinese and Mexicans among others.
When
they needed Chinese and Black slaves to work their mines, build their
railroads, work in their cotton fields, no leader in the USA complained
about Chinese, Blacks and others stealing their jobs in the USA itself.
Now,
the USA is throwing subsidies to attract EU manufacturing to the USA.
Is the USA stealing jobs from the Europeans? Of course, the EU will not
say so. After all, what can vassal states say to their master? Even told
to bend over backwards, they will just take it in the arse.
Anonymous
The Europeans are spooked by China's imposition of tariffs on European cars entering China. That is not all. China is intending to do to the EU what it did with agricultural products from the USA at the start of Trump's trade war. China is no more just taking it lying down. China has shown its ability to retaliate and that frightens the Europeans.
ReplyDeleteWho stands to lose the most? German car makers will face the biggest hit. Other EU countries will be hit by products like pork. I believe that is just the beginning of China's retaliation. China has found alternative markets in South America and Russia and is mending relations with Australia and New Zealand as well. The recent visit of Chinese Prime Minister Li Qiang to New Zealand and Australia is not for exchanging T-shirts to quote LKY. China is too big a market for them to resist.
If Russian cheap energy crisis is already crippling Europe, can the EU afford another disaster happening with its agricultural sector? This is not a shortage of agricultural products befalling Europe. It is the shortage of demand from the Chinese market that is the problem. European farmers are already at wits end trying to compete with outside producers like Ukraine. The recent farmers protest says it all. It is no use for the EU trying to export its agricultural products to the USA, which is just like 'Carrying coal to Newcastle' to quote an outdated saying. Newcastle itself already had so much coal and sending more coal there is a pointless action.
Elsewhere in South America they are producing just as much agricultural products for export to China, and already competing with the EU. Mess with China and suffer the consequences is something the Europeans better learn.