Who won the first showdown between Trump and Biden? How does the U.S. presidential election affect China's economy and the world economy?
In 2024, Biden and Trump debate on television.
Recently, the most influential event is the first debate of the US president in 2024, where 81-year-old Biden and 78-year-old Trump have a summit showdown.
However, this summit showdown seems very child's play, Biden is faltering, feels like he is going to fall at any moment, and his speech is even more vague; Trump, on the other hand, began to brag about his golf skills.
However, the views of the two sides on many major issues, such as politics and economy, are very different, which means that if Trump wins, it will have a huge impact on China's economy and even the global economy.
So, what exactly is the impact? Will China continue to be sanctioned by the United States? Today we will talk about this topic together, welcome to like, forward, and favorite.
US presidential debate, Trump wins?
This debate is full of gunpowder. Under the guidance of the moderator, the two sides directly began to debate. At the beginning, the discussion was about the economy.
Mr. Biden said he was accepting Mr. Trump's legacy and that his main economic achievement was job creation, including 15,000 net job additions and 800,000 new manufacturing jobs. Of course, he also said that the current wage earners still have many difficulties, and he will continue to work hard.
Biden appeared on the stage, saying that during his tenure, 800,000 manufacturing jobs were created
And Trump directly countered that Biden's achievements are actually based on the rebound in the context of the epidemic destroying the US economy, and he is not the same as him.
Trump boasted that he had saved the U.S. economy, adding 12 million jobs from May 2020 to December 2020 and continuing until Biden took office.
In the ensuing debate, the two sides also engaged in many debates on the economic aspect, and I would like to summarize it here.
First, Trump advocated a lower corporate tax rate in favor of big business and billionaires, because he believed that a tax cut would bring companies back to the United States and bring more revenue to the government, which would be good for the United States.
Not only that, but he advocates America first, expands tariff measures, focuses on supporting the U.S. auto industry, expands tariff sanctions against China, and prefers to reduce government spending and control debt levels when faced with the U.S. debt problem.
Trump believes that tax cuts will stimulate the economy.
Biden, on the other hand, is more inclined to increase taxes on high-income groups to reduce the gap between rich and poor and increase government revenues, and from an economic point of view, Biden is more moderate than Trump, and he is more lenient than Trump on employment issues, but it has also led to side effects such as frequent immigration problems.
On the issue of China, Biden's policy in recent years has also made it clear that even if he is a mature politician, he has not relaxed his pace in terms of sanctions against China, and the White House still regards China as a competitor and a target of sanctions.
The debate lasted for a long time, but it also scored a victory, and after the end, Trump directly said that he won the debate.
Biden was stuck many times when he spoke
I watched all the debates myself, and I really felt that Biden's performance in the early stage was very bad, almost pressed and beaten by Trump, the 81-year-old Biden had many stutters and slips of the tongue, the logic was not very clear, and his voice was hoarse, and it was not until the later stage that he lifted his spirits and relieved himself.
From this point of view, Trump's chances of winning are actually much greater.
Economists Engage in Debate, How Does the U.S. Election Affect the World Economy?
The president of the United States is holding a general election, and economists are also coming to join in the fun. Because 16 Nobel laureates in economics directly signed a joint letter, saying that if Trump wins the election, the world economy will be deeply affected.
Why? The main reason is that Trump is indeed more extreme, and his economic policy and unilateralism, as well as trade protectionism, are actually issues worth criticizing when he took office.
For example, Trump launched a trade war with China in 2018, which directly led to high tariffs on Chinese goods exported to the United States, and who will bear the cost of these tariffs? is an importer in the United States.
Trump started a trade war, and Biden continued to carry it out
This means that the United States should be able to buy all kinds of goods from China at lower prices; But the United States refused, which led to an increase in inflation in the United States. This will bring great instability to the US economy and even threaten the world economy.
And even now, when the European Central Bank began to announce interest rate cuts, the United States is still forced to maintain high interest rates of up to 5.33% due to serious domestic inflation problems, so as to continue to keep inflation down.
The situation in Europe is much better, because although Europe has also imposed some sanctions on China, the tariffs in China and Europe are still much lower than those in the United States, so the European side has basically solved the inflation problem and began to cut interest rates, while the United States can only continue to postpone interest rate cuts. Even this year, it is possible to cut interest rates only once, or even not at all.
The Fed may cut interest rates once this year
Therefore, in the eyes of most economists, Biden is still a relatively traditional economist, and his administration is conducive to the United States to continue to maintain relatively conventional economic and monetary policies, and is conducive to the stability of the American economy.
However, in the eyes of many people, Biden actually performed very poorly, if Biden has the ability, then the same problem in the United States now will not be so serious, you know, during the Biden administration, the cost of housing in the United States rose by 30%, the price of a basket of food rose by more than 20%, and prices skyrocketed
Therefore, for the American people, although they may not all support Trump, it is clear that they are not satisfied with the results of the Biden administration.
Trump: Biden and the source of America's troubles?
Trump's advantage is obvious, because his unilateralism has led directly to the United States under his leadership, and there is little interest in intervening in international conflicts. And the United States under Biden is different.
From the Russia-Ukraine conflict in 2022, to the current Palestinian-Israeli conflict, to the imminent Israeli attack on Lebanon, as well as the Houthis in the Red Sea, attacking aircraft carriers with hypersonic missiles, there are indeed many examples of the United States intervening in wars recently.
Houthis: First attack on a freighter using an indigenously produced hypersonic missile
And the policy of pulling NATO against Russia actually dragged the United States into the quagmire of war, and even economically, it also had an impact on the credibility of the dollar. Not to mention the escalating U.S. debt crisis, which has led to a high level of debt in the United States, and there is no way to solve the debt crisis.
And Trump is relatively much better, the decision to withdraw troops from Afghanistan, and the embarrassing scene of Biden's implementation, have disgraced the Democratic Party, and Trump is bent on the economy, and even withdrew from many international organizations, which is actually very much in line with American populism.
So from this point of view, the current US support for Ukraine and Israel does make many peace-loving Americans unhappy, and this is the huge advantage of Trump's victory.
How will the U.S. election affect China's economy?
What will be the impact of a Biden or Trump victory on China's economy?
If Trump is elected, then China will be greeted with tariffs of up to 60%, which will directly lead to the collapse of Sino-US trade, China's foreign exports will be blocked, exports will decline, and the United States will not be much better, and inflation will deepen for sure, and this will delay the time of interest rate cuts, which is not conducive to China's economic recovery.
In terms of chip and technology sanctions, whether it is Trump or Biden, the attitude towards China is actually the same, that is, sanctions. In the four years of Biden's administration, the United States has deepened sanctions against China, and Trump himself is the one who started the sanctions on China's technology.
China still needs to be prepared.
Therefore, in fact, whether Trump or Biden is in office, it is actually very difficult to expect the United States to be friendly to China, and our external disadvantages may continue for a long time, and this also requires China to be fully prepared for the impact of US sanctions on China in the future!
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【Sakura Wolf Finance】Explore the truth behind the hot spots, welcome to forward, like, and comment. The source of the picture comes from the Internet