RSS SubscribeChina Has Bought Its Way To The Top Of The Manufacturing Industry. Where Does That Leave America?
By Ethan Karp – Forbes
American manufacturers waiting for their government to subsidize the industry in a way that matches Chinese support will be waiting a very long time.
That’s not a comment on American policy—it’s a clear-eyed view of the miles-long crater between China’s approach and everyone else’s. China is, as the Wall Street Journal put it recently, “in a different league” when it comes to government funding of manufacturers.
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#governmentfunding
Trump’s economic policy is pretty simple – tax cuts and tariffs.
Tax cuts will put the economy on steroids (this is open to debate as American consumers whose spending is 70% of the economy have zero savings left from covid stimmie checks) but mega widen Federal and state budget deficits and vastly increase all levels of government borrowing.
Tariffs (a national sales tax) will hugely increase inflation and wipe out the Federal Reserve’s ability to cut interest rates.
“The risk in the market with Trump is an undisciplined fiscal situation. At some point in 2025, the deficit will grab the narrative of the market,” said James Camp, managing director of fixed income and strategic income at Eagle Asset Management
And if Trump thinks he’s going to wrest control of the Fed from share holders (who are the world’s richest banking family dynasties), and set interest rates himself, he’s wrong.