Hey folks 👋, Nobel Prize-winning economist Paul Krugman dropped some truth bombs on MSNBC, saying the U.S. has effectively lost the trade war with the Chinese mainland. Here’s the lowdown:
- Credibility crunch: According to Krugman, the U.S. traded its global rep, influence, and even its tech edge for short-term political wins. Ouch! 😬
- Chinese mainland’s pivot power: It has backup markets to lean on, while the U.S. struggles with structural issues—like kicking off a rare-earths industry overnight.
- Allies on standby: Tariffs on Canada over minor spats ended up alienating friends and hurting U.S. credibility on the world stage. 🌐🤝🚫
In simpler terms, a trade war is not just about big numbers—it’s a game of willpower and leverage. Back down, and you risk losing more than just dollars. 💸⚖️
What this means for us tech-savvy newbies and young pros? Keep an eye on shifting global supply chains and partnerships—your gadgets, jobs, and investments could feel the ripple. 🌊💻📈
Got thoughts? Drop a comment and join the convo! 🔥
Reference(s):
Nobel laureate: U.S. losing trade war, global credibility at risk
cgtn.com
