China and Japan own more than i/3 of America's $6.2 trillion Foreign debt with China owning $1.18 trillion and Japan $1.03 trillion.
Because of Donald Trumps moronic "trade war" with China, the Chinese yesterday showed what can happen if the United States of America persist in trying to undermine the world economic structure through the imposition of tariffs.
China flexed a bit of it's economic muscle by devaluing the Yuan and making China's exports cheaper and sending Wall Street and other stock exchanges plummeting. China can maintain this position for quite a while and even drop it's currency even further and if Trump and his inept "advisors" don't heed this warning, another massive depression awaits the world.
In my opinion, this is a calculated manoeuvre aimed at wedging Trump and forcing him to either back down from his idiotic stance or, if he doesn't, the American economy will plummet, as will the rest of the worlds' and the Chinese are "banking" on this creating a massive backlash from the American electorate against Trump and thereby, making him unelectable and practically ensuring a return the world economic structures pre-Trump. This manoeuvre will also show the rest of the world who the actual superpower in economic terms really is and the importance of "toeing the accepted economic line".
Because of Donald Trumps moronic "trade war" with China, the Chinese yesterday showed what can happen if the United States of America persist in trying to undermine the world economic structure through the imposition of tariffs.
China flexed a bit of it's economic muscle by devaluing the Yuan and making China's exports cheaper and sending Wall Street and other stock exchanges plummeting. China can maintain this position for quite a while and even drop it's currency even further and if Trump and his inept "advisors" don't heed this warning, another massive depression awaits the world.
In my opinion, this is a calculated manoeuvre aimed at wedging Trump and forcing him to either back down from his idiotic stance or, if he doesn't, the American economy will plummet, as will the rest of the worlds' and the Chinese are "banking" on this creating a massive backlash from the American electorate against Trump and thereby, making him unelectable and practically ensuring a return the world economic structures pre-Trump. This manoeuvre will also show the rest of the world who the actual superpower in economic terms really is and the importance of "toeing the accepted economic line".