China Daily Website, April 10th. Recently, the new US administration has been waving the "tariff stick", causing chaos worldwide and bringing uncertainty to the global economic trend, which has raised concerns in the international community about the possibility of "US economy falling into recession".
On April 9th, Ian Verrender, chief business correspondent of the Australian Broadcasting Corporation, published an article analyzing the impact of US economic policies on the global market. The article criticized the long-standing economic imbalance issues in the US and believed that its policies failed to address the fundamental contradictions but instead exacerbated the uncertainty in the global economy. It also warned of a deeper crisis facing the US.
Screenshot from the Australian Broadcasting Corporation report
Here are the main contents of the article:
In Trump's mind, America needs to return to the era when chimneys dotted the countryside. But America has moved forward into the high-tech future, and now Washington's determination to isolate itself from other countries may threaten America's future.
Even if these industries return - which is unlikely in the short term - would these new factories be replicas of the bygone era or driven by robots and powered by renewable energy?
The vast majority of business leaders considered his threat of imposing tariffs as mere bluster, but they were now horrified at the prospect of him actually implementing these measures.
However, no one can be sure whether this is just his bluster to bring other countries to the negotiating table or he is indeed serious, gradually destroying the confidence of businesses and consumers.
The longer this uncertainty persists, the worse the situation will become.
(Editor: Wu Yanpeng, Cao Jing)
Source: China Daily Website
Original article: https://www.toutiao.com/article/7491867409470292521/
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