Posted on 09/25/2020 7:55:38 AM PDT by Red Badger
The coronavirus is upending the global economy in a lot of ways. Many companies are allowing their employees to work remotely forever. Millions of Americans remain unemployed due to shutdowns and cutbacks. And the future is still very cloudy as to what shape a recovery will eventually take. Our latest visualization captures the state of the global economy on the eve of all the coronavirus disruption.
The U.S. remains by far the largest economy in the world with a GDP of $21.43T or 24.42% of the entire globe. China’s economy grew from 2018 to 2019 to $14.34, but the country is still nowhere close to catching up to the U.S. The rest of the world’s economic powerhouses have comparatively much smaller economies, including Japan ($5.08T), Germany ($3.84T) and India ($2.88T). Our visualization doesn’t take into account the size of each country’s population.
We found the data for 2019 gross domestic product figures over at the World Bank. First we divided the “pie” of the global economy into color-coded continents. Then, we sized each country according to its relative contribution to the world’s GDP, in effect creating a snapshot of the global economy on the eve of the coronavirus depression.
That is NOT what she said...
That’s what tariffs effectively do.
They raise the cost for China to sell into the American markets. That gives American made products an advantage in our home market.
Some of the nice things about tariffs is they provide a revenue stream to the government to help take care of unemployed Americans. And they don’t prohibit anyone from buying products from overseas, they just create a price advantage for American made products. They are less disruptive than an outright ban. So if there is a product you just can’t find a suitable replacement for, then you can still buy Chinese.
Danny, I’m suggesting the size of their economy will quickly be reduced by pulling the American consumer out of their economy. Walmart is just one large example.
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