Rugoz wrote:This US cannot effectively disentangle its economy from China while the rest of the world doesn't, unless the US is willing to disentangle itself from the rest of the world as well. There is no global US economic hegemony.
As for the trade deficit, tariffs won't do jack shit when Trump makes record deficits and needs foreign capital to fund it.
Not necessarily, as long as the trade war is limited to the US and China:
https://qz.com/1684207/mexico-canada-an ... trade-war/
That is interesting.
First off, I can’t see long term prospects being good for these smaller countries if both the US and Chinese economies go into recession.
Secondly, it ignores geo-politics. The US is winding back naval control of sea routes not vital to them. EG: telling other nations to guard their own shipping in the Gulf. The global economy had depended on US naval dominance to ensure uninterrupted sea trade. That state of affairs is in question now.
Regarding Australia, the financial sector is a mess at present. I think we are about to lose miracle economy status. Trade figures aren’t the only thing that matters.
I do find it interesting that China is buying gold in such large quantities. Could they be preparing for an attack on the USD status as global reserve currency?