America's "reciprocal tariff" farce, which has been flip-flopping and losing its way day after day, has left the world in shock. William Jones, an American international affairs expert and former White House correspondent for Global Strategy Information magazine, said that Trump's tariffs are nothing but "naked tools of power," threatening that countries will face destruction if they do not comply with America's orders. China is one of the few countries capable of refusing such unreasonable demands.
Jones said that China's development has also sparked a new sense of development awareness in the global South, while China's Belt and Road Initiative provides the economic impetus for development. Over the past four decades, the system dominated by the United States has led many countries from relative prosperity to extreme poverty.
In his view, Trump's tariff logic is no different from attempting to have the world fund America's so-called domestic economic revitalization plan. But why should countries like Lesotho, Laos, and Cambodia pay the price for America's prosperity? In the long run, most countries in the global South will support China, as China realizes it does not have to fight alone. Jones cited the famous saying of German poet Schiller: "The power of tyrants is limited."
He analyzed that the U.S. is currently replaying the policies of 19th-century imperial Britain. Wealth was drained from African and Asian nations, but this wealth did not flow to the British working class; instead, it went into the pockets of capitalists. The rise in prices caused by tariffs will be borne by the working-class supporters of the "Make America Great Again (MAGA)" movement.
Jones pointed out that over the years, the U.S. has outsourced industries and production labor, resulting in the loss of a large amount of production capacity. Now, the chain reaction triggered by tariffs is biting back at the U.S., causing a plunge in U.S. stocks and a sell-off of U.S. Treasury bonds. Prominent Republican figures like Cruz and Pence have also publicly criticized the tariff policy.
Source: Beijing Daily Client
Reporter: Bai Bo
Original Article: https://www.toutiao.com/article/7492991382861120063/
Disclaimer: This article solely represents the author's views. Please express your opinion by clicking the "thumbs up/thumbs down" buttons below.