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US economy grew only by 1.3% (as opposed to the expected 2.3%); the news sent XAU and JPY soaring. The silver cloud was that the consumer spending still looked
by ittekimasu 10y ago
US economy grew only by 1.3% (as opposed to the expected 2.3%); the news sent XAU and JPY soaring. The silver cloud was that the consumer spending still looked decent; such tariffs without massive structural changes to the US manufacturing will come with a recession.
People don't understand why people manufacture in China - it's less about wages now, and more about logistics. Considering the global decline in demand, it's unlikely US (or any others in S. Asia / Africa) will be able to repeat the China/Asian Tiger story on such a mass scale.