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Rumblestiltskin@lemmy.ml

Bessent today: China must de-escalate trade war first because we buy 5 times more than they do. (www.cnbc.com)

submitted 2 months ago by humanspiral@lemmy.ca to c/economics@lemmy.ml

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US exports are 2% of China GDP. It is likely to have higher GDP growth than US this year, while the US has shortages of things it cannot quickly replace. LNG, agriculture, aeroplances are easy to replace for China. Humiliating US has more value, than figuring out what they can boost 2% of GDP on.

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[–] HiddenLayer555@lemmy.ml 13 points 2 months ago* (last edited 2 months ago) (1 children)

The grocery store down the street must de-escalate trade war first because I buy everything from them but they have never bought anything from me, so I buy infinitely more times than they do.

[–] humanspiral@lemmy.ca 4 points 2 months ago

Makes no sense you haven't set them on fire yet. So unfair.

[–] DiaDeLosMuertos@aussie.zone 7 points 2 months ago (1 children)

Humiliating trump is fine. It's sad that tens of millions of Americans that also despise him are going to suffer. I wonder if the MAGA crowd will ever rise from their slumber ?

[–] TwinTitans@lemmy.world 6 points 2 months ago (1 children)

Maybe when their local dollar stores turn in to 20$+ stores.

[–] DiaDeLosMuertos@aussie.zone 4 points 2 months ago

Or are empty and close due to no stock.

[–] davel@lemmy.ml 5 points 2 months ago

🦗🦗🦗

[–] humanspiral@lemmy.ca 3 points 2 months ago

China debt to GDP is pretty low. If they wanted to shift manufacturing around, to boost gdp, it could be towards weapons :(