I don't understand all the anti-China sentiment in this country. What did they ever do besides ship us inexpensive goods in return for our government bonds which will end up worthless? They raised our standard of living and financed our deficits. We should be sending them thank you notes.
The attack on China started a long time ago in the '90s. In fact, in 1996 a younger Nancy Pelosi warned about rising trade deficits with the Chinese. She sounded like Donald Trump. Feel free to fact check me on this.
The Chinese are smart and resilient. When they were targeted by Trump's first trade war in 2018, they adapted and de-risked from the US economy. That's why they're one of the few countries that is standing up to the bully. Bravo. I applaud them.
When Biden took office, many expected him to back away from Trump's trade war and anti-China rhetoric. Instead, he amped them both up.
Btw, US multinationals (Starbucks, Apple, Tesla, Shake Shack, etc.) do about $500 billion a year of business in China. That doesn't show up in the trade deficit. China's BYD is the biggest producer of EVs in the world, but it's locked out of the US market by 100% tariffs imposed by the Biden administration. But you don't hear that because it doesn't fit the narrative.
As a result of Trump's first trade war, trade with China has declined. So has the trade deficit. In fact, it's the lowest it's been since 2010. Doesn't fit the narrative.
This trade war risks blowing up the global economy and taking our 401Ks with it. Who is to blame? Both parties, but honestly, we're all to blame.
~ Kevin Duffy, Facebook post, April 10, 2025
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