The US presidential election results have started coming in and by all estimates, it looks like Donald Trump is going to have another 4-year stay at the White House. The Democrats and the liberals around the world are now pinning their hopes on the postal ballots as their last glimmer of hope. However, Trump’s arch-nemesis China seems to have all but conceded the loss and is now indirectly praising Trump and his economic policies for his victory.
CCP’s global mouthpiece Global Times today tweeted a post where, in a rather backhand manner, it lauded President Trump’s economic policies and simultaneously tried to set the tone for the coming tenure by starting off on the right foot to reduce the risk of trade wars.
Chinese analysts said tight race between Trump and Biden showed:
1. US voters care more about economy than epidemic
2. So-called "mainstream" liberal ideology is not that mainstream in US
3. Many US voters don't want to return to 4 yrs ago; Democrats haven't made any innovation pic.twitter.com/5QhleSP8cj— Global Times (@globaltimesnews) November 4, 2020
The Chinese mouthpiece saying ‘US voters care more about economy than epidemic’ reinforces the belief that many economists around the world seem to agree upon. China seemed to be pinning its hopes on the extent of the coronavirus spread in the US, but voting pattern in the US has shown that Trump’s economic policies have prevailed.
Trump brought radical improvements in the lives of a common American. In 2016, real median household income was $62,898, just $257 above its level in 1999. Over the next three years, it grew almost $6,000, to $68,703. That’s perhaps why, despite the pandemic, 56% of U.S. voters polled last month said their families were better off today than they were four years ago.
And the undeniable truth is that Donald Trump‘s economic policies have been much stronger and firmer than his predecessor Barack Obama’s who was infamous for his modest and orthodox approach to revitalise the economy.
The businessman in Trump took the aggressive approach and eventually earned greater dividends than Obama for it.
Trump brought down the unemployment rate from 4.7% to 3.5 until December 2019. It might not look a huge number to the layman but when you put it in the context of what the Treasury Department and the Federal Reserve had proclaimed at the time, you can understand that Trump went against the tide and yet, succeeded.
The two departments had said that the economy was at full employment and that further improvement in the labor market was unlikely. This was in line with the Congressional Budget Office’s guidance that further declines in the unemployment rate would push the economy beyond its sustainable capacity. But Trump somehow managed to bring down the unemployment rate.
However, the upshot of the article is the sudden change in the stance of Global Times. A day prior to the D-day, Global Times which so far had batted for Democrats and Joe Biden vehemently had given indications that it had lost hopes of Biden creating any magic.
The publication in a rather defeated manner had remarked ‘China will focus on its own development, and will not put huge expectations on Donald Trump or Joe Biden to fix the bilateral ties.’ And therefore the aforementioned tweet is merely an extension of their lost will.
While Global Times kept a balanced view on the results, contrary to its usual hullabaloo, it didn’t shy away from taking a potshot at the liberal intelligentsia of America that once again has been found with its pants down.
With a Trump win highly likely, China and Xi Jinping are drowning in the misery that they would have to bear the brunt of Trump’s ruthlessness for another four years.