The rapid spread of Covid -19 is evidence of our global interconnectedness (Globalisation) and Trump or any other Populist/Nationalist is absolutely powerless to reverse Globalisation short of contracting to a pariah /insulationist state like North Korea.
Post WW2 the US led the Globalisation race by effectively colonising the Globe economically (with the exception of the USSR & China) led by US financial instutions and other US multinationals. This was all fine and dandy so long as the US was winning.
Now that the US is not winning the Commercial/Industrialisation Global race, it wants to pull the pin on it but still retain Global Military hedgemony!
Well, hello! America got to be the World's prime military power via its industrial power, not the other way around, so its logical that as the US looses its industrial/Commersial power, it will also loose its military might and the global reserve status of the Greenback to boot.
We can deny this at our peril; instead Australia should be positioning itself to capitalise on this titanic global reset and not hiding under the coat tails of a declining Uncle Sam. At present our Government has painted Australia into a no win corner rather than intelligently profiting from the US/China spat.
Just answer this question honestly: "Had we had similar relations with Chine as we have now from 2008 to 2011, would we still have avoided the recession which was experienced by most western countries then?
Your honest answer please?
There is a saying: "Those who dont study history are doomed to repeat it. Obviously there are many posters on these threads who who ave not studied the GFC and how Australia got "an out of jail card". That said, there is scant hope this time around that we will avoid a major recession because Mr Morrison INC does not understand the reason why we avoided recession 2008-2011!
PS: The only bright light on the US stock exchanges are its Gig Economy multinationals like Facebook, Google, Amazon , Microsoft & Tesla. Just imagine if the rest of the world returns Trump medicine and bungs tariffs (or worse bans) on these ? And dont mention Mc Donalds ( would you like fries with that) ? It is also interesting that Harley davidson (the USA flag on wheels) shifted some production to China when Trump bunged extra tariffs on aluminium & steel imports and of course Tesla did ditto. Also note that Trump did not label either as "Unpatriotic" but instead lauded Musk's SapceX as being a fantastic company for putting US astronauts into space and returning them safely. Beautiful, Just Beautiful!
