US President Donald Trump has made good on his word to hit the world with tariffs by imposing a 10% baseline tariff on all imports to the US, which by all accounts, is likely going to trigger a trade war to erupt in the world.
According to an executive order signed by US president Donald Trump yesterday, 49 countries have been slapped with reciprocal tariffs, with Malaysia being one.
The country hit hardest by Trump’s tariff was Lesotho at 50%, while the Democratic Republic of Congo got off the easiest with 11 %.
Malaysia was hit with a 24 % tariff, which will likely deal a heavy blow to Malaysia, as previously stated by foreign minister Mohamad Hasan.
According to Trump, the tariffs are justified.
“For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike,” Trump railed at the world, as if to suggest that the global economic structure was rigged against America, despite the fact that America has been the greatest beneficiary of the global economic structure for decades.
When I heard of Trump’s tariff, the first thing that crossed my mind was that in as much as Hitler is attributed towards ending the age of colonialism, Trump too might be credited by the future generation for ending the age of capitalism.
If there is one figure that can be attributed towards ending the age of colonialism, it is certainly Hitler.
I am not saying that Hitler was against colonialism - Hitler was not only against colonialism, he was likely for colonialism more than the all the major colonial powers at the time combined - he was so in favour for colonialism, as a matter of fact, that he attempted to conquer and colonize most of the colonial powers at the time – but saying that, it is also a fact that if it was not for Hitler trying to out-colonize the colonial powers at the time, World War 2 wouldn’t have erupted, and colonialism might have never ended.
In the same way, I am not saying that Trump is against capitalism - I am quite certain that Trump might be for capitalism more than any other capitalist in the world - but just as how Hitler's fervor for ultra-colonialism, started a world war that ended the age of colonialism, I earnestly believe that Trump’s penchant for ultra-capitalism , will also trigger a trade war that might end the age of capitalism.
Just as how at the end of the second World War, most of the nations in the world become so disenchanted with their colonial masters, that they finally managed to arouse themselves to liberate themselves from the yoke of colonialism, I predict that by the end of the Trump's trade war, most of the nations in the world are going to be so disgusted by capitalism, that they might very well abandon capitalism and adopt an alternative economic system.
Ironically, Trump has called the day that he announced his Tariffs (April 2) as "Liberation Day".
Future generations might as well remember April 2 as Liberation Day, just as Trump is calling it, but not for the same reason.
While Trump is referring to April 2 as a day that America liberated itself from the economic injustice that the rest of the world was subjecting it to, I am betting that future generation are going to remember April 2 as the day that the world liberated itself from the debauched and degenerate capitalistic system, where 1 percent owns 50 percent of the world's wealth, and the the richest nation in the world accused poorer nations of economically raping and plundering it.
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