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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    British newspaper: Biden's economic policies will make America and the world poorer

    Rocky
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    • Post n°1

    British newspaper: Biden's economic policies will make America and the world poorer Empty British newspaper: Biden's economic policies will make America and the world poorer

    Post by Rocky Sat 02 Sep 2023, 4:55 am

    British newspaper: Biden's economic policies will make America and the world poorer
    • Time: 09/02/2023 07:59:59
       
    • Read: 845 times

    British newspaper: Biden's economic policies will make America and the world poorer Regkrhlgrehgggf
      
    {International: Al Furat News} The British Telegraph newspaper published an article entitled "Biden's secret trade war will paralyze Britain."
    The author of the article , Samuel Greig,  begins  by noting that the outside world sees the United States as a highly polarized society in social terms, while there is a new consensus in that country on "economic nationalism."
    This term refers to the state's intervention in the economy and not leaving it to the mechanisms of the free market, and this approach would "make America and the world poorer," according to the author.
    Back in 2016, most people understood that the election of Donald Trump as president of the United States would follow a shift from the free-trade consensus embraced by his predecessors: Reagan, Bush senior, Bill Clinton, Bush junior, and Barack Obama.
    And Gregg considers that Trump's inclinations were standard, and he acted accordingly by imposing tariffs on imports.
    "Few expected this shift in trade to be accompanied by growing skepticism about the idea of ​​free markets in general, not to mention the degree to which a Biden administration might accelerate America's shift away from free trade," he wrote.
    The writer refers to the Biden Act of 2022 on electronic chips, which provided $ 280 billion to boost research and development, build a stronger STEM workforce, and enhance semiconductor capabilities in the United States.
    The accompanying bill - the 2022 Reduction Inflation Act - is similarly intrusive. Far from dealing with inflation, "the act provided $370 billion in targeted tax breaks, grants and subsidies to boost America's manufacturing sector, as well as something dear to the American left: the transition to green energy."
    The writer believes that the Biden administration is deliberately seeking, without a tendency to apologize, to allocate capital and labor force to sectors of the economy through the federal government, rather than leaving it to the markets.
    This trend is supported by US lawmakers, Gregg says, some of whom stand on opposite sides of social issues while fully agreeing on economic policies, for example the belief that "allowing China to join the World Trade Organization costs Americans jobs".
    He wrote, “The reasons for this broad shift toward economic nationalism include national security concerns about China, concern about climate change, and a desire to help working-class Americans whom populists of the left and the right contend have been the primary losers from globalization… It is clear that American confidence The ability of markets to allocate resources efficiently has vanished."
    The long-term consequences of this shift will be dire for the US economy, as well as for the world, according to the author.
    He believes that the policy of tax exemptions and generous subsidies for US-made products exposes governments, all over the world, to pressure towards providing similar subsidies, including Britain.
    For example, the manufacture of cars is one of the main export industries in Britain, and America is currently the second largest market for purchase. And if the EU and Washington go to war over electric cars, “post-Brexit Britain may find itself marginalized, helpless, and unable to afford retaliatory sanctions. As the saying goes, there is no winning in war: there are varying degrees of losing.”
    The writer concluded: “We may be in the preliminary stages of America embracing economic nationalism. If so, the West is embarking on a wild ride, as the axioms associated with the Reagan-Clinton years (the free market approach) are replaced by the Trump-Biden set of priorities. The end result will be no less America.” Not only a more prosperous world, but also a world that is more divided and poorer economically."
    https://alforatnews.iq/news/%D8%B5%D8%AD%D9%8A%D9%81%D8%A9-%D8%A8%D8%B1%D9%8A%D8%B7%D8%A7%D9%86%D9%8A%D8%A9-%D8%B3%D9%8A%D8%A7%D8%B3%D8%A7%D8%AA-%D8%A8%D8%A7%D9%8A%D8%AF%D9%86-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9-%D8%B3%D8%AA%D8%AC%D8%B9%D9%84-%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D8%A7-%D9%88%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85-%D8%A3%D9%83%D8%AB%D8%B1-%D9%81%D9%82%D8%B1%D8%A7
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