Seun Foo: As China Orders Its Banks To Cancel USD Buying, Spain Makes A Dramatic Pivot To Beijing
A note from one of our China Writers:
In 2018, China welcomed Trump as a super VIP with a $223b trade deal, but Trump tore up the deal signed under his watch the next day and declared a trade war because he thought he was powerful enough to demand more. He claimed at that time: Trade wars are easy to win.
Since then, China has spent 8 years diverting business from the US to the rest of the world. Enjoys the difference between the world trading maps 2020 vs. 2024 to understand how 2018 moron Trump trade war is effectively helping China to achieve massive world influence by giving away their import of US goods to the rest of the world:
In 2000, U.S. trade totaled $2.0 trillion—more than four times China’s $474 billion. At the time, China was the primary trade partner for only a handful of countries, including Cuba, Iran, Libya, Myanmar, Mongolia, North Korea, Oman, Sudan, Tanzania, and Vietnam.
From 2000 to 2024, U.S. trade grew by 167% (4.2% CAGR), while China’s trade surged by 1,200% (11.3% CAGR), surpassing the U.S. in 2012. By 2024, total trade reached $5.3 trillion for the U.S. and $6.2 trillion for China.
It is really eye opening to see these illustrations and such scale of growth. But I do not suppose I am the one to bring the news first that the centuries old conflicts are not fought by nation states. I.e. Trumps actions cannot be measured from that perspective. I would… Read more »