Protectionism, Free Markets, Decentralization? Trump Versus Jinping Versus Blockchain
“No Collusion, No Obstruction” are the words that close out the entire Mueller Report for Trump and his millions of supporters. With this entire investigation being cordoned off, at least in the mind of the President, he has since placed his focus on that matter of trade with China, and that is a subject that the president is more than willing to be confrontational about.
Short term and Long term, no matter what view you take of the matter of trade between the United States of America and China. There are a lot of people across the world that will be affected by how these negotiations will go.
From the recently imposed protectionist tariffs of the US, the People’s Republic has since retaliated with . its own series of tariffs, equalling approximately $60 billion worth of imports from America, primarily. oriented around foodstuffs. When asked to comment on these new tariffs, China claims that these measures were a precise approach taken in order to directly target Trump supporters by incrementally increasing the cost of food from the US.
There can only be an illogical or ill-informed individual when it comes to proclaiming yourself a Trump supporter when it comes to the matter of trade relations with China, and this is a massive problem. Additionally, one of the big issues is the difference of political partisanship; for the US, it’s a matter of how these arguments will influence and impact upon the future administrations. On the other hand, the People’s Republic has, since Mao Zedong, been run by the Communist Party bureaucracy. Meaning that the latter can wait out the storm without concerning itself with partisan divides.
Anyone who is out there that Trump is some kind of unquestioned central executive running the country beyond question is either unbearably naive or inexcusably blind. While the president provides a general vision on the direction of government policy and places a greater emphasis on specific priorities. These directions and priorities are filtered through an already established US bureaucracy.
One of the things that doesn’t help matters for those more free trade minded is the fact that, for this once, America is relatively more united. And this will be something that will only increase over time thanks to the fact that China is matching hostility in kind. Just how China went about doing this was by making good on its previous threat of selling off US Treasury bonds.
While this battle is considered a trade war with the Eagle on one side, and the newly centralized Dragon on the other. This war, much like danger itself, presents a crucial opportunity for the third party of blockchain technology to benefit. More specifically, it would significantly benefit from a stronger, more open economic system, in which there is more domestic and international freedom with which to allow for greater business and innovative freedom.
We are certainly seeing that there are two diametrically opposed viewpoints being taken regarding trade – with protectionism and punitive tariffs facing off against an industry that is built upon the founding principle of openness and neo-internationalism. As a result, it’s a shame to see so many platforms that demonstrate an over-eagerness to report on these detrimental actions, while simultaneously working to demonize a technology doing the most to support the individual.
Blockchain companies, event planners and enthusiasts welcomed representatives from the US and China to the 2016 Blockchain Summit, with all the intentions of building bridges, and contribute to a globally groundbreaking fourth industrial revolution. But the position being taken is akin to pulling away your favorite toys and walling them off with layers of concrete.
This is something that is not exclusive to China, and while the People’s Republic is doing a great deal of patenting and clampdowns, the United States with its hamstrung, overgrown bureaucracy does little to support innovations that the blockchain world can provide, with both nations also taking an overly firm hand towards crypto exchanges as well.
For China, their hard-line measure demonstrates the kind of extreme and juvenile approach that the authoritarian regime has towards innovation. Much like Poker, it’s only good when it’s in their hands. China’s abolition of the crypto space and America’s sluggishness towards capitalizing on it demonstrate there is no clear winning or even good bet to make.
Regardless, where these two runners refuse to take the baton, others will. And that is absolutely what is going to happen, mainly because there are seriously incredible innovations that blockchain can allow for. Among these are sensors, wifi, and data security to name a few.
Will these countries be able to step away from a trade conflict to busy themselves with a renewed economic and industrial dynamism towards new technology? The first affirmative would be if they actually try to de-escalate trade tensions, which aren’t looking good.
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