I was asked for an opinion for the trade war between US and France in the News programme of PRESS TV (11-7-2020).
The videos of the interview follow below.
Also below are the main points of my intervention.
PRESS TV 11-7-2020
This last episode is part of the trade wars that are raging during the last decades
The main instigator is the US who sees its economic hegemony faltering and tries to secure its position.
The other parts retaliate.
However, the causes of these current trade wars are far deeper.
The collapse of the Eastern bloc enabled the West to instigate the ‘globalisation’, that is an era of opening the economies, removing protectionist and trade barrier and weakening the national economic policies of the less developed economies. This facilitated Western inroads in these economies. The US benefited most from this ‘globalisation’ era because of its dominance oon the financial sector. However, the ‘globalisation’ era created several contradictions for the world and western-dominated capitalist system. A number of countries (‘emerging economies’) became the manufacturing powerhouses of the global economy. Thus, slowly Western dominance is challenged.
Consequently, protectionism and trade wars were gradually implemented; particularly in the form of ‘economic sanctions’ but not only.
The eruption of the 2008 global capitalist crisis and the current coronavirus crisis shutters the ‘globalisation’ era. The crises lead to the eruption of intra-imperialist rivalries. Trade wars have become the name of the day. We have entered the ‘de-globalisation’ era. In this new era imperialist economic and military wars constitute the rule of the game.
Regarding this particular tit-for-tat between the US and France, I would not rule out a mid-term compromise between them; given that what they exchanged till now is more or less threats rather than the actual implementation of punitive measures. We have seen this also in the US-China trade war. However, the deep strategic rivalries will ultimately prevail – one way or another – and the trade war will continue anabated.
This is the recording of a short interview regarding the current G7 meeting in today’s SPUTNIK radio News (8-6-2018).
The main issues are what is the US Trump administrartion trying to achieve and whether the other Western countries in the G7 are going to confront it or they will capitulate in the end.
My take is that the Trump administration is trying to preserve US’ superpower status by using all its leverage very aggresively in order to subdue its opponents (especially China) and bolster US’ position in an era of economic crises and geopolitical tensions that threaten the latter’s dominant position.
The Western countries that participate in the G7 will probably pay dearly the trade wars that US is waging against primarily China. However, they are very weak and very strongly dependent upon the US in order to stop them.
The possibility of a collapse of the US hegemony is a real one but it want come from the other Western countries in the G7 (which is trully a pretty irrelevant structure nowadays) but from countries outside it; primarily China and Russia.
The full version of the interview follows
A short intervention in Press TV News on the ongoing saga of US trade war against China and not only …
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.
- The 2008 global capitalst crisis showed that particularly Western capitalism is still in the doldrums of economic crisis.
- The aftermath of the crisis (with the double dip and the currently lingering fears of another bust) is not nice.
- In such a situation intra-capitalist (and intra-imperialist) rivalries are being aggravated.
- The US is trying to preserve and buttress its position as the dominant Western imperialist superpower.
- 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.
- 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.
- 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.
- 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.
- 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.