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by Helmet
3416 days ago
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You're severely underestimating the impact U.S. business has on other countries. A trade war with any of the countries you have listed would harm them much more than it would harm the US. China holds about 8-9% US debt. Their entire economic model is based on the devaluation of their currency so that the US and other countries purchase their products. If China dumps US debt, there is plenty of demand elsewhere. Look, I'm not some extreme pro-America nationalist - but you have to look at the facts and it is simply an indisputable reality that no other country in the world can compete with the US on economic grounds. You are overplaying your hand if you think that a trade war with the US would end favorably for any of those nations. |
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It would cause a LOT of short term pain - but 15-20 years later it would show benefits. China and India need to evolve with reduced dependence on exports (and the developed world). In any case they will have the largest markets based on current population projections.
Just look at the kind of income inequality that exists in these countries - I would actually argue that this was a by-product of trying to copy/serve the US model at some level.