China is not America Biggest Threat
I intend to use another angle to study the problems of the American economy, because this is related to many future political and diplomatic issues in the United States, and in turn will have a greater impact on China and the world. Plagues and wars have always been events that change the course of history.
The US GDP in the second quarter fell by 32.9%. Although better than the forecast of some financial institutions, it is still shocking because this is the worst data for the US economy since 1947. In other words, it is difficult for many people to experience such a thing in their lifetime. The current unemployment rate in the United States is 14%, while before the outbreak, the unemployment rate was only 3%. The death toll in the United States due to the epidemic has exceeded 150,000. Former US presidential candidate Herman Kane also died of the virus, so don't think that the virus only kills people at the bottom.
If you know that the 32.9% economic contraction was already boosted by the huge financial relief of the government, you should understand how much impact the epidemic has on the United States. On March 25 this year, the White House and the Senate reached an agreement on a $2 trillion economic stimulus plan. Unemployed Americans are entitled to receive emergency unemployment benefits of $600 a week but does that allow the American people to survive the crisis?
According to data from the US Census Bureau in late July, nearly 30 million Americans did not have enough food to eat. The survey data shows that about 23.9 million of 249 million respondents indicated they had “sometimes not enough to eat” for the week ending July 21 and 5.42 million more indicated they had “often not enough to eat.” In total, about 12 percent of respondents reported not having enough food. Please note that this is the survey data released by the United States, not some fake media news.
This is why the United States will restart the economy even if the epidemic resures, because if work does not resume, the United States will really suffer a famine.
Many people may say that the United States is much richer than most of the world, it is impossible for them to go hungry. In fact, the abundance of goods really has nothing to do with whether you are hungry or not. If the economy cannot function normally, even if there is food, it will be difficult to distribute it to the people who need it. Industrial society is heavily dependent on division of labor and transactions. In the United States, the number of people who directly produce food and raw materials accounts for less than 2% of the total population. If the economy cannot restart, the entire production, transportation, and distribution links will be severely restricted. It is impossible to rely on the government's own system to distribute food.
China Explained will show you that because of China’s continued success in industrial upgrading, technological innovation and realizing its huge potential, it is an unstoppable process. The inevitable rise of China may feel intimidating and some simply reject it. Don’t be. More importantly, we will answer the million-dollar question: how can you, as an individual or a small business owner, also profit from the rise of China ?
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