KW: American bulllyingand boasting has sunk to a new low. CNBC reported that Trump boasted “Had a Democrat gotten in… China would have caught us by the end of her term. They’re nowhere close, they’ll never catch us,” Trump said China has “lost many many trillions of dollars” since he was elected president. Of course this is HOW Trump negotiates, the ‘best negotiator’ in the world he once stated. Meanwhile many analysts claim that this tactic ‘crosses the line of absurdity and threatens to unravel global trade’. This is a new low in American diplomacy,” Sourabh Gupta, senior policy specialist at the Institute for China America Studies, told RT. “That an American president would advance and impose tariffs on a counterpart country if that country’s president did not consent to a sit-down bilateral meeting on the sidelines of a multilateral summit is absurd, to the point of being almost comical.” “Trump promised all of this during his presidential campaign, but no one took him seriously. Now he is showing how much damage one man can do provided he has power and some very bad misunderstandings concerning how economics works,” Jeffrey A. Tucker of the American Institute for Economic Research told RT. Trade between nations is a win-win situation for everyone, while Trump treats it as a game of winners and losers, he said.
Meanwhile China last month, the central bank of China raised its bullion reserves to 61.61 million ounces from 61.10 million in the previous month. As of the end of May, the nation’s stockpile was valued at $79.83 billion compared to $78.35 billion a month earlier. In tonnage terms that marks an increase of 15.86 tons, after almost 58 tons of gold were added over the five months through April. However, this war should not be confused as it is by media as a ‘trade war’; it is not just a trade war, it is the fore runner to real war between a rising dynasty and a crumbling one with the one that is on the wane fighting hard to preserve the current ascendency it has enjoyed for decades by any means it can. That it will result in deaths on both sides and in unrelated areas too is virtualy assured given the depth of resentment in the U.S. by it’s ‘leadership’.
You’re coming! Trump threatens China with immediate tariffs if Xi Jinping does not attend G20