Happy Palm Sunday to those that celebrate.
Have just been on X and boy oh boy, the 50 Cent Army is out in force. "Trump blinked". "Trump bent the knee". "Trump surrendered".
Hilarious!
China has a very big problem. The American middle class is ONE THIRD of the global consumer market. China has built it's economy to service this sector. Millions of factories, millions of workers dedicated to this market. And you know how Americans pay Chinese companies? Not with Pesos, Rupees,Kwanza, Yuan or other fugazi paper. They pay with the mighty UNITED STATES DOLLAR. And they pay immediately with no drama.
Currently, 70% of Chinese products destined for the US have a 145% tariff, the remainder 20%. The Chinese will happily eat the 20%. The 145% means it is unsaleable in the US. Those orders have been delayed or canceled. Chinese factories have already been idled and workers told to stay home. The US can buy it's products from anywhere. The Chinese ***HAVE TO*** sell their products to the US or divert them elsewhere. Good luck getting India to pay on time with Rupees, if you even want Rupees. How about Dinar or Kwanzas. Worth less than Yuan - which BTW, only has value if it's pegged to the US Dollar. No USDs on hand from selling to Americans and the Yuan is about equal to toilet paper.
That is all.