John Ing Gold Is Going To Surge Above $2,000
John Ing Says Gold Is Going To Surge Above $2,000 from King World News
Today a legend who is connected in China at the highest levels predicted the price of gold is going to surge well above $2,000.
Trade War Fallout
By John Ing, Maison Placements
February 20 (King World News) – A slowdown due in part to the fall-out from the trade war between the world’s two largest economies, China and the US, suggests considerable cause for concern. Chinese statistics in the last few months have come below expectations. In the US, inflation is running about two percent but wage increases and the inflationary impact of tariffs have yet to surface. Retail sales fell to the lowest rate since 2003. Apple’s misfortunes are due to slowing iPhone sales in China. Industrial bellwether Caterpillar, expects sales to be flat this year after a whopping 40 percent increase last year. Harley Davidson blamed the tariffs for wiping out all of last year’s profits. China’s champion Alibaba, too warned about slowing growth and weakening sales. Midwest farmers’ bankruptcies are at the highest level in a decade. Unilateralism is not a fix at all. It will be costlier and less stable.
Business attitudes too have changed in a relationship that will outlast Trump’s presidency. In the last 50 years, America was on the ascendance but in the past two decades, its commerce and financial system became intertwined such that US laws today have extraterritorial reach against countries and companies worldwide. And now with the extradition arrest of Ms. Meng Wanzhou, Huawei’s chief financial officer in Vancouver and American indictments against Huawei, Trump’s administration’s intertwining of legal with commercial interests has changed the rules of engagement, likely for generations to come.
US, China and the Thucydides Trap
All of this suggests that the overriding aim of the US administration is to contain its strategic rival to maintain America’s economic and military primacy. China in turn has countered that it does not seek to impose Chinese culture on the world nor replace America’s hegemonic powers but desires a harmonious relationship over time.