Don't let the same logic (i.e. Iraq's non-existent WMD and "democracy in the Middle East") that led to the devastating Iraq War in 2003 convince you today that the Navarro-Trump-led global trade war (based on the
"National Security" pretext and
"China's Economic Aggression") will bring a better future for you. It will bring destruction and even death if their policies persist.
War is destructive as you have learnt, so is trade war - especially when it is launched on a global scale by a president who fools you with the slogan of "America First".
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History also tells us:
LESSON 1:
Trade Wars lead to Great Depression
The Great Depression was the worst economic downturn in the history of the industrialised world, lasting from 1929 to 1939. It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output and employment as failing companies laid off workers. By 1933, when the Great Depression reached its lowest point, some 15 million Americans were unemployed and nearly half the country’s banks had failed.
Men stand in line outside a depression soup kitchen, 1931
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LESSON 2:
Great Depression leads to Military War
Rising to power in an economically and politically unstable Germany, Adolf Hitler and his National Socialist (Nazi Party) rearmed the nation and signed strategic treaties with Italy and Japan to further his ambitions of world domination. Hitler’s invasion of Poland in September 1939 drove Great Britain and France to declare war on Germany, and World War II had begun. Over the next six years, the conflict would take more lives and destroy more land and property around the globe than any previous war. Among the estimated 45-60 million people killed were 6 million Jews murdered in Nazi concentration camps as part of Hitler’s diabolical “Final Solution,” now known as the Holocaust.
'The world is sleepwalking into a financial crisis' – Gordon Brown, The Guardian, 12 September, 2018
A leaderless world is sleepwalking towards a repeat of its near meltdown in late 2008 and early 2009 because it has failed to remedy the causes of the financial crash of a decade ago, former prime minister Gordon Brown has warned.
“The cooperation that was seen in 2008 would not be possible in a post-2018 crisis both in terms of central banks and governments working together. We would have a blame-sharing exercise rather than solving the problem.
In the light of the trade war launched against Beijing by the US, Brown doubted that China would be as cooperative a second time.
“Trump’s protectionism is the biggest barrier to building international cooperation,” he said.
Crashed: How a Decade of Financial Crises Changed the World
by Adam Tooze
In September 2008 the Great Financial Crisis, triggered by the collapse of Lehman brothers, shook the world. A decade later its spectre still haunts us.
Yet, unbelievably, led by the Trump administration, the world is being taken into another potential financial crisis!
The crisis of 2008 had its roots in the US housing market, with the losses sustained on subprime mortgages cascading through the global financial system in the months leading up to the collapse of Lehmans.
As the appalling scope and scale of the crash was revealed, the financial institutions that had symbolised the West's triumph since the end of the Cold War, seemed - through greed, malice and incompetence - to be about to bring the entire system to its knees.
Crashed
is a brilliantly original and assured analysis of what happened and how we were rescued from something even worse - but at a price which continues to undermine democracy across Europe and the United States. Gnawing away at our institutions are the many billions of dollars which were conjured up to prevent complete collapse. Over and over again, the end of the crisis has been announced, but it continues to hound us - whether in Greece or Ukraine, whether through Brexit or Trump.