The laws of Trumponomics, after all, are more about resentment and victimhood than stirring animal spirits. And no woe-is-America narrative is more pervasive in the Trump era than China “raping” the US workforce and “stealing” growth from Washington. An undervalued yuan is a pillar of this theory. It’s “killing us,” as Trump likes to say. Expect Trump’s ire to increase as the yuan weakens past 7 to the dollar – from today’s 6.96 – thanks to PBOC largess. That might provoke him to ratchet up the trade war.
Commercial satellite imagery, the respected Johns Hopkins University advisory reports, show increased numbers of massive landslides near the slopes of Mt. Mantap, near Pyongyang’s nuclear test area. Kim’s regime is essentially engineering giant earthquakes. It was a March 2011 quake, remember, that precipitated the Fukushima atomic plant meltdown, the worst nuclear crisis since Chernobyl.
If Donald Trump thought slapping China would divert attention from events in Virginia, he miscalculated. That’s because, just like his slow disavowal of racist protestors, Trump’s move to investigate Beijing’s trade practices is too little, too late. Directing Trade Representative Robert Lighthizer to probe America’s deficit with China makes for great optics for the reality-TV president.