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S.Mavroudeas’ interview in News of PRESS TV (11-7-2020) on the trade war

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I was asked for an opinion for the trade war between US and France in the News programme of PRESS TV (11-7-2020). The videos of the interview follow below. Also below are the main points of my intervention. [embedded content] https://media.urmedium.com/video/2020/07/11/637301026778230844video.mp4 PRESS TV 11-7-2020 This last episode is part of the trade wars that are raging during the last decades The main instigator is the US who sees its economic hegemony faltering and tries to secure its position. The other parts retaliate. However, the causes of these current trade wars are far deeper. The collapse of the Eastern bloc enabled the West to instigate the ‘globalisation’, that is an era of opening the economies, removing protectionist and trade barrier and weakening the national

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I was asked for an opinion for the trade war between US and France in the News programme of PRESS TV (11-7-2020).

The videos of the interview follow below.

Also below are the main points of my intervention.

PRESS TV 11-7-2020

This last episode is part of the trade wars that are raging during the last decades

The main instigator is the US who sees its economic hegemony faltering and tries to secure its position.

The other parts retaliate.

However, the causes of these current trade wars are far deeper.

The collapse of the Eastern bloc enabled the West to instigate the ‘globalisation’, that is an era of opening the economies, removing protectionist and trade barrier and weakening the national economic policies of the less developed economies. This facilitated Western inroads in these economies. The US benefited most from this ‘globalisation’ era because of its dominance oon the financial sector. However, the ‘globalisation’ era created several contradictions for the world and western-dominated capitalist system. A number of countries (‘emerging economies’) became the manufacturing powerhouses of the global economy. Thus, slowly Western dominance is challenged.

Consequently, protectionism and trade wars were gradually implemented; particularly in the form of ‘economic sanctions’ but not only.

The eruption of the 2008 global capitalist crisis and the current coronavirus crisis shutters the ‘globalisation’ era. The crises lead to the eruption of intra-imperialist rivalries. Trade wars have become the name of the day. We have entered the ‘de-globalisation’ era. In this new era imperialist economic and military wars constitute the rule of the game.

Regarding this particular tit-for-tat between the US and France, I would not rule out a mid-term compromise between them; given that what they exchanged till now is more or less threats rather than the actual implementation of punitive measures. We have seen this also in the US-China trade war. However, the deep strategic rivalries will ultimately prevail – one way or another – and the trade war will continue anabated.

Stavros Mavroudeas
He is currently Professor of Political Economy at the Department of Social Policy of Panteion University. He was previously Professor of Political Economy at the Department of Economics of the University of Macedonia. He studied at the Economics Department of the National Kapodistriakon University of Athens, from where he received his BA Economics (1985 - First Class Honours).

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