President Trump has been in office for a year now. He has not implemented any of his grand schemes. In fact, he is doing the opposite of what he promised. While in China, the first stop on his current tour of Asia, he fawned over Chinese President Xi Jinping, who, in turn, silently endured Trump’s ingratiating behavior while flashing a smile now and then for the media.
What prompted Trump’s change of heart?
It seems the US president has woken up and smelled the coffee. China’s economy has been booming for decades. The country’s share of global exports has reached 14 percent and continues to rise, while the US has only hit the ten percent mark. Americans are living on credit and must rely on loans from China in the future. For years now, Beijing has been investing its export surplus in US bonds and has become the nation’s largest creditor, if you exclude the US Federal Reserve. If Beijing wanted to, it could turn off the money supply and plunge the US economy into a crisis.