U.S. economy is damaged by trade wars as much as other global economies
A chain is no stronger than its weakest link. The U.S. dollar used to soar as it seemed to be the best among the rest. The report on the US manufacturing PMI in August has significantly damaged the greenback’s reputation. The purchasing managers index fell below 50 for the first time since 2016 which indicates the U.S. economy is generally shrinking amid trade wars. The U.S. is not that resilient to the trade wars’ negative impact as it used to seem, so it makes no sense to…
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