September 29, 2022

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ARCHIVES » GLOBAL RECESSION LOOMING AS CHINA SHUTS DOWN SUPPLY LINES

GLOBAL RECESSION LOOMING AS CHINA SHUTS DOWN SUPPLY LINES

by Kit Daniels

US too dependent on Chinese factories.

China is using its new Covid lockdowns to slow down supply lines to the United States, according to one analyst.

Analysts were shocked by China’s new Covid-19 lockdowns, a response which they believe seem out of proportion to the threat of the virus.

One analyst in particular says China is using the lockdowns to hurt the US economically.

“Here we are, two years into Covid, with ample time behind us to have studied the virus, developed vaccines, boosters and therapeutics and allowed for natural immunity to spread – and China is locking down the city of 26.3 million people at the first sign of a couple cases of Covid,” wrote financial blogger Quoth the Raven.

“China is looking for an excuse to slow its production to put pressure on the Western world at a time when it is trying to separate further, economically, from the West,” he further suggested.

If true, this could prove cataclysmic to the US economy, given that the United States lacks the production capabilities of China, meaning that its supply lines are dependent on Chinese factories.

In fact, another financial blogger, G. Edward Griffin, once said that America’s trade deficit could only be sustained because the US Dollar was in the “unique position of having its currency accepted as the medium of international trade.”

“Thus, for years, the United States has been able to spend more money than it earned in trade by having the Federal Reserve create whatever it needed,” he wrote.

In other words, international demand for the US dollar substituted for demand for American-made products which no longer existed because the US would rather buy products from China instead of producing its own.

And that’s why China shutting down supply lines to the West could trigger a recession in the US – and even the world – especially as demand for the US dollar is already in decline as countries move away from trading oil for US dollars.


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