In this video clip, the editor of one of China’s largest and most outspoken newspapers highlights how China will win Trump’s trade war. As a passionate supporter of globalism and open markets, I’m alarmed that Trump’s interventions will reduce global trade (according to IMF forecasts). Trump needs to address US industrial investment, national skills and productivity. Under Trump, US corporations are more incentivized to return money to shareholders than fund new facilities in the US. The economic cost of reversing the decline of US manufacturing would be enormous. To increase US competitiveness, policymakers must address the economic consequences of obesity and addiction – both alcohol and drugs. Views?
According to the Economist, the British middle-classes are increasingly feeling the impact of creeping austerity. My advice to them would be to ‘get used to it’, or ‘get out’. The economic consequences of Brexit will be savage for an already heavily indebted UK. Another Conservative Government after the next election will be forced to heavily ramp up austerity. Meanwhile, a Far Left Labour government will also meddle massively but very differently. Either way, the British middle classes are probably in for a prolonged and increasing period of pain. Thoughts?