🚨 Hey guys! Big news dropped over the weekend that might shake things up between the U.S. and China. On Saturday, U.S. President Donald Trump signed an executive order slapping a 10% tariff on goods imported from the Chinese mainland. 📦💸 This move stirred up quite the buzz, sparking criticism and some serious side-eye from economists worldwide.
One voice standing out is renowned American economist Jeffrey Sachs. 📚 He didn't hold back, warning that \"protectionist economies do not thrive… the first loser would be the United States.\" Yikes! 😬 Sachs pointed to the dark days of the 1930s when protectionism led to disastrous global effects. Basically, he's saying, \"Let's not repeat history, folks!\" 🌍⏳
Sachs also highlighted something super important: the U.S. has been \"a major beneficiary of China's economic rise, not a loser.\" 🤝✨ Instead of seeing China as a competitor, he suggests embracing a win-win relationship. Sounds like solid advice, right? 😊
With all the global challenges we face, fostering cooperation might be the way to go. What do you think about these new tariffs? Drop your thoughts below! 👇💬
Reference(s):
The U.S. benefited from China's rise, protectionism would only hurt it, says expert
cgtn.com
