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Even before the coronavirus global pandemic started America’s steepest economic downturn since the Great Depression, China inhibited attempts by President Donald Trump’s administration to curb China’s exports into the United States with heavy tariffs.
Despite all efforts to restart U.S. manufacturing after its decade-long reduction, Chinese shipments into the United States have increased in the past few years. Even more humiliating is that China has become the world’s leading generation of gross domestic product, a position this country held since time immemorial. Also, while U.S. GDP growth is a respectable 3.6 percent per American, China doubled that number going into the new year.
In fact, China’s economic growth overall accelerated during the time of Trump’s presidency. Much of this was through its dominance of the Association of Southeast Asian Nations (ASEAN), a group of leading Asian nations. This group is now China’s second-largest trading partner, after the European Union. It will grow even more than the world’s developed countries, as ASEAN is running well ahead of the European Union
Even shipments to the United States are in strong growth patterns, despite the tariff wall. Although President Trump’s manufacturing comeback got off the ground, China’s shipments to the United States continue their expansions, reaching an all-time high in 2020. It now appears that President Trump’s U.S. replacement manufacturing failed to achieve its main purpose.
Even as President Joseph Biden concentrates on cleaning the air and bringing peace to the Iran/U.S. confrontation, China’s growth to unlimited trade leadership is well on its way and rapidly expanding.
What Makes American Women World’s Most Successful?
Although many observers today would hardly consider women to be members of a minority, they were certainly treated as such until the latest 20th and, to some extent, 21st centuries.
A recent featured article in Forbes magazine listed an unusually large number of women who have succeeded in their careers and reached millionaire and billionaire status. This status has been unknown for women before this century because of an age-old belief system demanding, even today, that women stick to the roles of wife and mother. This is even true as part of the mandate required by the civilized world’s great religions.
Currently, this absurd status is still practiced in most African nations, as well as in many Asian, Arabic and South American lands. The United States has seen women as a major economic factor in generating outstanding gross domestic product success.
Although many women were wealthy or dominant in the past, it was usually due to a husband or father who bequeathed such benefits to most women of very high positions. But as a list of 100 of America’s wealthiest women indicates their successes — whether corporate, creative or entertainment prominence — they were all acquired by these women’s achievements and contributions.
It is a matter of fact that the uniquely American experience is one of “talent, capability and performance” generated by individuals, men and women alike. It is the American advantage not to be stuck in the middle ages, as before, which stunted the possibilities by mandating the role of women to a position that would not allow deviation from motherhood or marriage.
Bitcoin Rockets to $40,000
As the new year began, Bitcoin kept up its blistering pace, crossing the $40,000 line for the first time. This seemed to sustain itself as investors lined up to keep pushing it even higher, with only a few reversals while it headed for the next step up.
Bitcoin prices have been rising along with the rest of the capital markets since March of last year as more investors flocked to risky assets. It has been in response to the aggressive monetary policies enacted by central banks everywhere to combat the economic collapse caused by the COVID-19 pandemic.
As an asset that is considerably more dangerously speculative than stocks, junk bonds or even gold bullion, Bitcoins greatly benefitted from this environment. From the March 2020 low of $3,687 to recent highs, Bitcoin is up by almost 1,000 percent.
Even more amazing, Bitcoin prices doubled in less than a month. Bitcoin hit the $20,000 mark as late as December. This was especially surprising since Bitcoin had struggled without significant price rises for the previous three years.
Some of the same speculations have been at play in the stock market, with a momentum level sweeping up the riskiest growth streak — Tesla, Overstock.com and DraftKings. Tesla already made its owner the richest man in the world, exceeding Amazon’s Jeff Bezos. With such higher bursts storming the overall stock market, the so-called cryptocurrency group as a whole is up nearly 85 percent of this total combined.
Bitcoin’s potential as a hedge against an internationally falling dollar has been a very effective selling point; this dropped in a lot of new money. Much of the new money comes from professional investors who move huge amounts of monetary liquidity at their disposal.
While the stock market, in general, has benefitted greatly from this economic potential, nothing compares to the expansion that Bitcoin anticipates. This is bound to continue during 2021 as the current combination of factors makes the Bitcoin investment a leading future potential.