Almost indiscernible in the endless tumult about President Donald Trump is the objective return of American might, right on our doorstep. A casual sampler of the Canadian, and even the American, media, might think that the United States was so far along in its decline that the entire process of government and normal public discourse had broken down in that country, and that the much-discussed process of national decline was accelerating in a climate of virtual chaos.
In fact, the economy of the United States is astoundingly strong: full employment, an expanding work force, negligible inflation and about three per cent economic growth. And it is a broad economic recovery, not based on service industries as in the United Kingdom (where London handles most of Europe’s financial industry, while most of British industry has fled), and not based largely on the fluctuating resources markets as has often been Canada’s experience. In the eight years of president Obama, the United States lost 219,000 manufacturing jobs; in the two years of Trump, the country has added 477,000 manufacturing jobs. This was not supposed to be possible, and this time, unlike in the great Reagan boom, it cannot be dismissed by the left (and it was false in the eighties) as a profusion of “hamburger flippers, dry cleaners and people delivering pizza,” (all necessary occupations).
U.S. President Donald Trump and Chinese President Xi Jinping, along with members of their delegations, hold a dinner meeting at the end of the G20 Leaders’ Summit in Buenos Aires, on Dec. 1, 2018.
It is clear that China is feeling the heat of American tariffs. Their magnificent hypocrisy of gamboling in a $360-billion trade surplus with the United States while extorting technology from American companies and reducing American high-tech giants like Apple and Google to snivelling on China’s behalf when their sales in that country are reduced, and all the while leading G-77 in cupped-hands requests for relief from the economically most advanced countries for their pollution of the world environment (although China is the world’s greatest polluter), all of it is ending. The United States will not be the world’s premier chump anymore. The most enthusiastic support the United States is receiving in its trade stance with China is from China’s neighbours, from India to Japan. Of course China is the world’s second-greatest power and must be treated with respect, but that does not mean the shameless grovelling of Trump’s predecessors, paying court to Beijing like lackeys kowtowing to the emperors of the Middle Kingdom.
Every U.S. president starting with Dwight Eisenhower has bewailed American dependence on foreign oil. Foreigners then supplied 10 per cent of America’s oil, a figure that rose to 60 per cent under president Obama, and no one has done anything about it, until the past two years, when oil production has been sharply increased and reliance on oil imports has been sharply cut, on its inexorable way to zero. For decades, whenever the U.S. made purposeful noises about doing the necessary to reduce oil imports, …read more
Source:: Nationalpost – News