Send a Tweet
Most Popular Choices
Share on Facebook 1 Share on Twitter 2 Share on LinkedIn Share on Reddit Tell A Friend Printer Friendly Page Save As Favorite View Favorites
OpEdNews Op Eds

Trump, "Visionary Business Guru," Crashing the Global Economy

By       Message Finian Cunningham       (Page 1 of 2 pages)     Permalink    (# of views)   3 comments

Related Topic(s): ; ; ; ; ; ; ; , Add Tags
Add to My Group(s)

Must Read 4   Valuable 4   Well Said 1  
View Ratings | Rate It

opednews.com Headlined to H2 7/8/18

Author 85939
Become a Fan
  (34 fans)

From Strategic Culture

From pixabay.com: Trump False Fake? {MID-302370}
Trump False Fake?
(Image by pixabay.com)
  Permission   Details   DMCA
- Advertisement -

US President Donald Trump often brags about his visionary business prowess, and his acolytes hail the former property tycoon for his razor-sharp intelligence. Critics and detractors, on the other hand, speak of his impulsiveness and reckless, short-attention span.

The latter uncharitable characterization of the 45th president seems more than amply substantiated this week as he launched a trade war with China and, further, spooked global oil markets over his belligerent showdown with Iran.

Given the dire financial repercussions for the US and, more generally, the international economy from Trump's actions one wonders how he can ever claim to be such a business guru.

- Advertisement -

First on China, the Trump administration this week finally implemented its threats to raise punitive taxes on $34 billion-worth of Chinese exports. Trump is threatening to ramp up the tariffs on all Chinese traded goods to the US -- some $450 billion-worth a year. Beijing condemned the "first shots" of the "biggest trade war in economic history." It immediately hit back with equivalent reprisal tariffs on US exports.

Warnings from Beijing that "no-one wins in a trade war" reverberated with panicky losses across international markets, fearing that the escalating tensions between the world two largest economies will severely inflict collateral damage on the entire globe.

Even in the US, Trump's hard-balling with China had rapid repercussions. Industries which are associated with Trump's voter base are reeling over concerns about the impact of Chinese counter-measures.

- Advertisement -

The New York Times reported: "American metal producers, energy companies and automakers are worried. Some businesses are bracing by halting hiring, putting off expenses and otherwise cutting costs."

If the Trump administration goes the whole hog in its trade war with China, as it is belligerently claiming to do, then it is highly likely that the American economy, along with the rest of the world, will tank into recession.

None more so than Trump's core voters will be worse affected through soaring consumer price inflation and job lay-offs as China cuts off its massive annual trade with the US in search for alternative markets.

It is not as if this consequence is obscure. It is blindingly obvious in such an elaborately intertwined global economy, and especially between the interwoven two biggest national economies. Already, the US economy is being impacted, and yet Trump the supposed business guru plows forth into the abyss as if wearing a blindfold.

The other big wake-up call about Trump's thinking limitations is his detrimental showdown with Iran. The American president's bullish demand that all nations cancel oil exports from Iran is sending market prices upwards.

Higher oil prices will, again, hamper the international economy and US growth in particular.

- Advertisement -

The prospect can only get much worse if Trump persists in trying to isolate Iran -- the world's fourth biggest supplier of oil.

Iranian President Hassan Rouhani said this week that his nation is prepared to block off the Persian Gulf choke-point for global oil trade if the US continues its plan to embargo all Iranian crude exports. Rouhani is referring to the Strait of Hormuz, the narrow stretch of water which links the Persian Gulf to the Gulf of Oman and thence the rest of the world.

Next Page  1  |  2

 

- Advertisement -

Must Read 4   Valuable 4   Well Said 1  
View Ratings | Rate It

opednews.com

Author and journalist. Finian Cunningham has written extensively on international affairs, with articles published in several languages. He is a Master's graduate in Agricultural Chemistry and worked as a scientific editor for the Royal (more...)
 

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon Share Author on Social Media   Go To Commenting

The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

"Mentally Unfit" Trump Signals Palace Coup Option

Is a military coup against Trump in the cards?

Russia Vindicated by Terrorist Surrenders in Syria

America -- the Most Frightened Nation on Earth

Pentagon, CIA Form Praetorian Guard for Clinton as Warmonger President

Putin Foresaw Death of US Global Power