Terrified Trump Flees Tariffs War After CEOs’ ‘Empty Shelves’ Warning
www.thedailybeast.com
The president sounded much more conciliatory after he was told about the chaos his plans could bring.

Summary

Trump had to reverse his aggressive tariff rhetoric after CEOs from Walmart, Target, and Home Depot warned of empty shelves and higher prices due to supply chain disruptions.

Investors reacted negatively to his threats against Fed Chair Jerome Powell, prompting a market sell-off.

Trump backtracked, expressing optimism on a China trade deal and now denying plans to fire Powell.

Global markets remain volatile, and the IMF cited Trump’s trade war as a “major negative shock” to global growth.

  • futatorius@lemm.ee
    212·
    1 day ago

    it aligns with the communist block’s benefit

    Neither Russia nor China are communist anymore. Russia is run by corrupt capitalists and has been since the 1980s, and the only thing Communist about China is the name of the totalitarian party that runs its government, which consists of a mix of state-funded and private capitalist enterprise.

      • futatorius@lemm.ee
        3·
        3 hours ago

        China is very much a socialist economy

        Really? The workers control the means of production? From here, it looks like state capitalism augmented by inconsistently regulated private enterprise (which sometimes leads to the entrepreneurs disappearing when they’ve neglected to grease the correct set of Party palms).

        • anarchiddy@lemmy.dbzer0.comEnglish
          12·
          3 hours ago

          The workers control the means of production?

          More than 60% of the Chinese economy is state owned and controlled, and as of I think a year ago they democratized Chinese company structures by mandating assemblies of employee representatives. The state having majority control and direction of the Chinese economy and market is the primary complaint of western trade partners, I don’t know why people are always surprised by this.

          I get that people really do not like the authoritarian aspects of the Chinese government, but state-controlled economies are pretty much the exact intent behind ‘worker-controlled means of production’ in marxism.

          • explodicle@sh.itjust.worksEnglish
            2·
            2 hours ago

            Socialism isn’t just when the government does things. In between workers and the state needs to be a free and functioning democracy.

              • explodicle@sh.itjust.worksEnglish
                21·
                2 hours ago

                In Marxist philosophy, the dictatorship of the proletariat is a condition in which the proletariat, or the working class, holds control over state power. The dictatorship of the proletariat is the transitional phase from a capitalist to a communist economy, whereby the post-revolutionary state seizes the means of production, mandates the implementation of direct elections on behalf of and within the confines of the ruling proletarian state party, and institutes elected delegates into representative workers’ councils that nationalise ownership of the means of production from private to collective ownership.

                https://en.wikipedia.org/wiki/Dictatorship_of_the_proletariat