The Hidden Truth About Globalization and Economic Power
Economists perceived globalisation as the definite route toward financial success for countries at different economic levels. The basic principle held that wealthy nations would innovate to progress at higher value levels, and developing nations could take charge of basic manufacturing. Vice President JD Vance recently revealed that the depicted projections behind globalisation failed to materialise. China and other nations ignored their previous position as cheap labour bases to achieve their individual economic growth and rise against Western financial dominance.
Trump’s 50% Tariffs on Canadian Steel and Aluminum: A Trade War Escalation
President Donald Trump has undertaken a step that escalates trade tensions between the U.S. and Canada by implementing a 50% tariff on the entire volume of Canadian steel and aluminium imports. According to the administration, this action is retaliation after Ontario implemented a 25% surcharge for border states to receive Ontario electricity.