Monday , February 24 2025
Home / Mike Norman Economics / RMB tail wags US inflation dog — David P. Goldman

RMB tail wags US inflation dog — David P. Goldman

Summary:
The point to take away from this quick review of the data is that the American economy is so integrated with China that China has become the marginal price-setter for large parts of the US economy. The Trump tariffs on a wide range of Chinese imports failed to slow, let alone reverse, America’s dependence on China. The United States doesn’t have the capital stock or skilled labor to meet a surge in demand, and Americans paid up for Chinese goods because they couldn’t get them anywhere else.…Asia TimesRMB tail wags US inflation dogDavid P. Goldmanhttps://asiatimes.com/2022/02/rmb-tail-wags-us-inflation-dog/

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

New Economics Foundation writes Is the Labour government delivering on its promises?

John Quiggin writes Dispensing with the US-centric financial system

New Economics Foundation writes Whose growth is it anyway?

Matias Vernengo writes What is heterodox economics?

The point to take away from this quick review of the data is that the American economy is so integrated with China that China has become the marginal price-setter for large parts of the US economy. The Trump tariffs on a wide range of Chinese imports failed to slow, let alone reverse, America’s dependence on China. The United States doesn’t have the capital stock or skilled labor to meet a surge in demand, and Americans paid up for Chinese goods because they couldn’t get them anywhere else.…
Asia Times
RMB tail wags US inflation dog
David P. Goldman
https://asiatimes.com/2022/02/rmb-tail-wags-us-inflation-dog/
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *