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Politics : View from the Center and Left

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To: zzpat who wrote (377966)	7/23/2018 11:14:16 AM
From: ryanaka	Read Replies (2) of 542788

After Smoot-Hawley tariff in 1930, the value of global trade declined from $4.9 billion to $1.8 billion between 1930 and 1933. Message 31712075 Before Trump tariff, the US export to China was about $130B in 2017. (https://www.census.gov/foreign-trade/balance/c5700.html) The world wide export volume peaked in 2014 at $19T. (https://www.statista.com/statistics/264682/worldwide-export-volume-in-the-trade-since-1950/) IF Trump trade war goes in full swing, and if a Trump-induced Great Depression II materializes, then how much smaller the world wide export volume will become, from the $19T of 2014 (or from $16T of 2016), will be an important figure. In 2017, US exported $130B to, and imported $505B from, China. China holds almost $1.2T worth of US treasuries. This war can get ugly. China can use their UST holdings in this fight.

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