Daily Archives: 24/05/2018

Interview in PressTV on US trade wars 23-5-2018

This is a short comment in PressTV News regarding the trade wars policy of the US Trump administration.

The links for the video follow.

The main points of my comment are the following.

  1. The 2008 global capitalst crisis showed that particularly Western capitalism is still in the doldrums of economic crisis.
  2. The aftermath of the crisis (with the double dip and the currently lingering fears of another bust) is not nice.
  3. In such a situation intra-capitalist (and intra-imperialist) rivalries are being aggravated.
  4. The US is trying to preserve and buttress its position as the dominant Western imperialist superpower.
  5. The Trump administration is pushing for a change of US strategy. Before the US tried to push Russia up to the wall and at the same time befriend China. Now the new US’ strategic enemy is China and the Trump administration is trying to appease Russia.
  6. In this game the US is engaging in trade wars (as well as in currency wars and sometimes in real wars). Thus, it tries to pressurise China.
  7. However, China is too big to be easily pressurised. So the US is playing a game of hide and seek, pressurise and compromise. China is playing also the same game from its side.
  8. However, the Trump administration is an unstable one and its policies are terribly incoherent. Its trade wars might have bigger repercussions for other economies (e.g. India, European Union) than on China. Thus, in the end, the US risks the danger of alienating everybody.
  9. The WTO and its complaints procedures are irrelevant. This is a game of pure power; a power tug-of-war. However, its end result is unknown.