"Trump follies"

Translated "Avante!"article by Jorge Cadima, Member of the International Department

Almost everyday, new contradictions and rivalries break out: Trump’s turnaround, at the G7 closing; the announcement of new USA tariffs against China; the “praise” exchange between French and Italian; the crisis amid the German government. The list is long and grows everyday. Madame Lagarde, the IMF director-general, states that ” every single day, clouds are darker in the horizon” (in CNN, 2018.06.12). Political expressions that prove the world economic deep correlation force change and the capitalism crisis – that far from being under control – grows behind the central banks built screens, in order to hinder and make belief that all is well.

The economic forces world correlation change is believed to be qualitative. The tariffs on 50 thousand million dollars Chinese imports report to 1102 commodities “ essentially focused on the China Made in 2025, that ought to make it be dominant, concerning high technology industries, such as robotics, aero-spatial, industrial machinery and cars” ( in Bloomberg, 2018.06.15). The Financial Times (2018.06.17) headlines an article: “China is winning the global technology run”. Trump, following his own style, considers the USA to be victimized:” we hold that great cerebral power in Silicon Valley, and China, as well as others, steel those secrets, but they ought to be protected. Those are this country’s Crown Jewels” (in Bloomberg, 2018.06. 18). But the Financial Times writes another version: the USA is loosing its touch, as the multimillionaire elite is too occupied in pocketing profits, instead of investing: “ Between 2015 and 2017 the USA five greatest technology groups ( specially Apple and Microsoft) had a 228 thousand million expenditure, purchasing their own buybacks and dividends [ to their shareholders] , according to Bloomberg data. During the same period, the five greatest Chinese technologic companies only but had an expenditure of 10,7 thousand million dollars and directed the remaining of the surplus amounts unto investments, ought to widen its footmark and influence” (in Financial Times, 2018.06. 17).

Behind Trump’s follies diatribes, there is a logic. The USA ‘s financial situation is untenable for a long time. Its national debt, currently reaches over 21 billion (12 zeros) dollars, and over doubled in the last 10 years. The trade balance is highly deficient. A great part of the debt is the result of both the gigantic war machine and the world domination. Trump wants the USA multinational companies to return to the country, those that relocated an important part of their production, during the last decades. And the allies/vassals pay more for their military adventures to impose its hegemony. But , it is grotesque listening to Trump complaining that others profit from the superpower, that has ordered the world game rules, for decades and extorts the planet’s resources. If there exist objective reasons for Trump’s behaviour, there exist strong possibilities that, with the “every man for himself” policy, Trump ought to end up by aggravating, even more the world capitalism situation. The European allies/vassals (as Merkel and Macron) are desperate and speak of a “global order” deepening. Only but the peoples ought to create a new order.

  • Articles and Interviews
  • Chronic International