Many local people just get fed propaganda from each respective side to drive their agendas. The fact is - the major economies (US, EU and China) don't play fair, hence the establishment of the WTO. Even then, they often ignore the WTO rules.
The US just like the EU and China manipulate their currency to suit them - if they didn't, they would be a banana republic by now. You only need to look at how the major commodities around the world are priced - in USD.
This means that every time buyers want to buy oil (for example), they need to buy USD to settle on the transaction - and right now, there is 100M barrels of oil consumed per day that has to be settled in USD - every single day. Without these demand for USD, the USD would tank, inflation and interest rates would rise in the US - and the US would head in the same direction as Venezuela.
Its due to the fact that major commodities around the world are settled in USD, that has kept the USD in demand, and which in turn has allowed the US Fed Reserve to print about $100 billion in new money every month. And oil countries that try to move away the USD, find themselves destabilized or sanctioned - like Venezuela.
The fact is the US economy (outside a few sectors) are just not competitive. They have been running a structural deficit against the rest of the world for decades. Just against the top 30 countries, the US trade deficit is nearly 700 Billions per year. Its not a few countries that they have this problem with - its just about every country around the world..
The US, EU and China must go back to the WTO and sort it out there, instead of imposing sanctions, which is destabilizing world trades.
CVN Price at posting:
37.5¢ Sentiment: Buy Disclosure: Held
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