After the outbreak of the Russian-Ukrainian conflict, Europe blindly followed the United States to impose sanctions on Russia, especially in the energy field that it relies on the most, resulting in a surge in energy prices. People from all countries complained, such as the UK even had a dilemma of "not able to afford electricity bills". Originally, after more than two years of epidemic, the European economy has been in a downward channel, and the tossing of energy introduction has caused the economic decline to accelerate.
As the culprit, the United States on the other side of the ocean naturally cannot escape. Recently, The United States has heard a bad news - the European economic recession may spill overflow and spread to America . It was not someone else who said this, but the US Treasury Secretary Yellen .
According to reports from Observer.com , in the past August, U.S. inflation continued and was higher than expected by 8.3%. In Wall Street , the three major stock indexes plummeted. Moreover, in the current United States, high prices, depreciation of the US dollar, and incomplete supply chains have not improved much. When European allies encounter economic recession, even Treasury Secretary Yellen, who had previously been "optimistic" about the US economy, has issued a warning to the outside world, saying that the European economic recession may "spillover" to the United States.
Observation found that the whereabouts of the US economy have begun since the time of taking office as President Trump . At that time, people attributed it more to the impact of the epidemic, believing that once the epidemic passes, the US economy will still return to normal and continue to move forward steadily.
But on the one hand, the United States probably did not expect that the impact of the new crown epidemic will last for more than two years, and so far, there is no sign of ending; on the other hand, American society has been deeply divided, racial discrimination happens frequently, and shootings occur frequently. The two parties fight for votes to seize power, and there is no time to improve people's livelihood. Under such a background, it would be strange if the economy does not fall.
How did the US government "take medicine" about this? Trump held high the banner of "America First" and frantically suppressed his competitors. Taking China as an example, the US imposes tariffs on China, launching a "trade war", attempting to use "robbery" to force the US economy; for allies, the US "flee" everywhere and collects "protection fees". Anyway, everyone has to "pay money" to the United States in an attempt to stabilize the declining US economy.
However, after Trump's term ended, the US side calculated the general account and found that under the suppression of the Trump administration, China's exports to the United States not only increased, but also set a historical record in the trade surplus. When purchasing Chinese goods, the American people spent $129 billion.
This also shows that the trade war with China implemented by the United States has completely failed. The consequence of "fleeing" against allies is that not only did the US economy not make any profits, but also caused the allies to stay away from each other, and the US leadership in the international community began to decline sharply.
In this regard, Biden pointed out as early as the election campaign that, first, the forced tariffs did not hurt China at all, and were transferred to the heads of US companies and American people, and instead tied up the hands and feet of the United States; second, it hopes to reunite allies, return the United States to its leadership position, and based on this, reshape the international order and economic rules and stabilize the US economy.
However, it is easier said than done. Biden has been in office for nearly two years now, and the US economy is still operating in the whereabouts channel, without any improvement, which has also attracted Trump's loud irony.
Objectively speaking, if we have to ask about the reasons for the decline of the US economy, the epidemic is indeed one, but firstly, the time for the epidemic is limited after all, and secondly, as long as the United States finds the right way to deal with it, it can still reverse the economic fatigue. But ironically, America, which claims to be the "world's largest power", has failed to overreact in the face of the epidemic. Not only is there a total of nearly 100 million confirmed cases, the death toll is still more than 1 million. Such low epidemic governance capabilities have directly dragged down the economy, and even after the vaccine appears, it has not improved at all.
Another one is the impact brought by the Russian-Ukrainian conflict, but this cannot be blamed on others, because the United States is the initiator. Not only will sanctions be imposed on Russia, but also pressure European allies to attack Russia in the energy field, because this is the main source of Russian foreign exchange and the main source of economic support for Russia's war. However, the United States underestimated how deep Europe is to rely on Russian energy. The final result is that European countries have encountered a "backlash". Not only are the economy declining, but their living standards have also begun to decline sharply. The "coal era" has returned to Europe.
Allies are an important reliance for the United States. This is just like when the United States suffers from a cold, they catch a cold. Now that the European economy is facing collapse, it is also difficult for the United States to survive alone, because after all, the economic connection is too close. In this way, it is probably not possible to maintain hegemony by suppressing China and preventing China from rising. The United States' hegemony building will probably be demolished by itself.
