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(Mary, 3 November 2018 20:10)
If the Chinese stock market collapsed then so has the NY Stock market; China is the No1 world economy. Where do you get this stuff from? CNN?
Chinese government debt is only 12% of GDP. The US is 133% of GDP and rising.
China has over 4.5 trillion in foreign reserves plus gold reserves. What does the US have? Debt and more debt. Treasury has already signed up for the next trillion of debt.
Trump announced a trade deal is near with China. The Chinese have not and are not giving anything away that matters to them. For a deal to be nearly done so soon it means that Trump has caved in because thousands of jobs would have disappeared in the US. Trumps former trade advisor Gary Cohen told him that this was not 1952 and the US could not win a trade war with China.
The 250,000 “new jobs” created are mostly low paid work or short term or underemployed.
In 1945 the US was an economic power house since its GDP was 50% of the entire world output. Today its 15%.
If Serbia waited for EU money to survive it would have collapsed a long time ago. The only thing the EU gives, is to benefit the EU, e.g. infrastructure such roads and certain rail projects. Look at Croatia; it’s in the EU and it’s so successful the young are fleeing in their thousands each year. From 4.5 million to 3.8 million in 2018.
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