(Newswire.net— June 8, 2018) — The political strategy of a unilateral decision regarding the world’s economy drove the US on collision path with the rest of the world. But can the world push back? According to the French President Emanuel Macron it can.
If Donald Trump doesn’t care about “being isolated,” then G7 may be better being G6, says Macron as the leaders of the G7 countries are preparing to meet at a trade summit in Canada.
“The six countries of the G7 without the United States, are a bigger market taken together than the American market,” Russia Today cited the French President who slammed Trump’s stance on not caring about being isolated.
“Maybe the American president doesn’t care about being isolated today, but we don’t mind being six, if needs be,” Macron stressed. The group was once G8, however, Russia was expelled following the request that came from the US. Now the leading G7 sate could taste its own medicine, according to the French President.
Seriously, what if the World imposes sanctions to the US as it did against Russia? Is this scenario even possible? According to the French President the unilateral political decisions of his US counterpart are pushing global economy into a serious depression which fires back at the US economy as well.
“A trade war doesn’t spare anyone. It will start first of all to hurt US workers, and the cost of raw materials will rise, and industries will become less competitive,” Macron warned, calling Trump’s trade war “unilateral and illegal.”
According to some scenarios if the world’s largest economies impose sanctions against the US, it would bring more damage to Americans than the sanctions against Russia hurt the Russians, and here is why: the Russian Federation has enough resources that it is capable of building its own economy. In fact, EU economies such as Germany, France and many others are more dependent on Russia than vice versa.
Invasions on Iraq and Libya brought the US more oil to trade but the EU countries were buying significantly more from Russia. Economy sanctions against Russia forced EU countries to buy oil and gas from the US, which was a “great” idea in the beginning. However, oil and gas from the US is way more expensive so that move seriously hurt the EU economy. Voices in the EU parliament are already building up against the US domination and the newly elected government in Italy already announced breaking the sanctions against Russia in order to salvage its own economy.
But it is not just about Russia. The US President unilaterally withdrew from the Iran nuclear deal, and launched a trade war against its closest allies such as Canada, which offended the Canadian Prime Minister Justin Trudeau.
“The idea that, you know, our soldiers who had fought and died together on the beaches of World War II and the mountains of Afghanistan, and have stood shoulder to shoulder in some of the most difficult places in the world, that are always there for each other, somehow — this is insulting to that,” Trudeau said on NBC.
It is plausible that some countries, even the closest of allies impose sanctions to the US, however unlikely it may be. If this happens, it would surely burry the US economy which is deeply dependant on outside trading.
The US could retaliate by using its Food power since the US is the largest food exporter on earth, however, China has the capacity of building food factories overnight and taking over the market by becoming the world’s leading country in anything.
The truth is that China is much closer to overthrowing the US from its leading position since the US only trades with 75 countries out 194, and China trades with 127 so it could organize those countries to trade in Yuan, which would literally kill the value of the US dollar on the market.
The US economy simply can’t endure the potential sanctions, it simply isn’t built to rely on inner resources so the hypothetical sanctions as a response from the world to the “America first” strategy can no longer run ahead of an “America last” situation.