Striking comment from US economist: 'It has turned into a paper tiger in terms of finance'
American economist Michael Hudson pointed out that the Washington administration, which insists on a confrontational mindset and uses trade as a weapon, will eventually isolate itself.
12punto
American economist Michael Hudson spoke yesterday to the US-based Geopolitical Economy Report website (geopoliticaleconomy.com).
In his statement, Hudson expressed that while other countries are pursuing win-win plans based on goals of jointly developing bilateral trade, building interdependent relationships, and creating effective regional trade systems, the decisions made by the US are aimed at damaging the trade system.
Stating that the US has become a 'paper tiger' in terms of finance in the current situation, Hudson noted that the US, which has suddenly disrupted the trade model built over many long years, has no tangible tools available other than the threat of tariffs.