RE: WhiteHouse7 Apr 2025 18:42
Nope.
Nothing wrong with China being in the WTO. They just never play / played fair by the WTO rules. Their tariffs were long 2-3 times higher (or more) than the US, yuan currency manipulation is rife, IP loss thru coerced partnerships, the list goes on and on. For example, China manipulated its currency just last week!
The dollar is the world's reserve currency because of its mindblowing liquidity. US is 25-30% of the entire planet's GDP. Simples.
Nothing wrong with outsourcing to cheaper or better or unique-resource countries. But you gotta let your currency free-float and adjust down or up to the subsequent trade imbalance, which in turn rebalances longterm trade. China does not free-float. China keeps trade (deliberately) unbalanced. Year after year after year.
The average American is 50-100% richer than the average Brit. It's the UK who needs to look at its economic policies. We are much poorer. The stats are clear.
The US is just 20-40% of NATO population, but 60-80% of NATO spending. By one estimate, the EU and UK have leached $4T in free defence from the US in the past 25-50 years. It is the EU not paying its way. Not the US. The stats are clear.
In the past 110 years, the US has (literally) saved the UK and Europe from Germany, Italy, the Nazis, the Fascists, Japan, China, USSR, Marxism, communism, extremist Islamic terrorism, and is currently trying to stop communist dictatorship China and nuclear annihilation Iran. No other country on the planet has shed so much blood and treasure to protect Western democracy and freedom. None.
It is quite astonishing (and terrifying) how few people out there understand even basic history, geopolitics, or economics!