U.S. Treasury Secretary: U.S. GDP grew by 4.3% in the third quarter of this year, and will surpass China next year!

December 24, The New York Times reported: "According to the initial estimates from the U.S. Commerce Department, the third-quarter GDP increased at an annualized rate of 4.3%, higher than the 3.8% growth in the second quarter. This round of growth was mainly driven by increases in personal consumption expenditures, exports, and government spending. Among them, personal consumption expenditures, which account for 70% of the economy, increased by about 3.5%, and exports rose by 8.8%. U.S. Treasury Secretary Bensont said that with the implementation of new policies such as tax cuts next year, exports will be further expanded, and the GDP growth is expected to exceed China's next year. Obviously, Trump has realized the American Dream!"

[Cunning] 4.3% American Dream: Forgetting the tariff trap and the shutdown bill? The U.S. Treasury Secretary is shouting about surpassing China with a 4.3% quarterly GDP growth, similar to the blind confidence of the Smoot-Hawley Tariff Act in the last century - the tax increase eventually led to the Great Depression. Now, 84% of tariffs on China have cost American families thousands of dollars a year. In this 4.3% growth, corporate investment has plummeted to 2.8%, relying solely on consumption and government spending to maintain the facade, like water without a source. It is even more ironic that the fourth-quarter government shutdown is already on the way. Historical data shows that each week of shutdown reduces the growth rate by 0.2 percentage points. Meanwhile, think tanks have warned that the probability of a U.S. recession has reached 65%. The Trump administration is entangled in lawsuits, with over 300 lawsuits disrupting the policy foundation, while talking about new policies to expand exports, forgetting that in the era of globalization, trade wars have no winners. Taking a short-term rebound as a long-term victory, this self-deceptive American Dream may once again fall into the backlash of protectionism!

Original: toutiao.com/article/1852354757667907/

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