US reliant on China for essential goods - Plutocrats "running" government

The Policy Circle, which is based in India, says the US reliance on Chinese inputs spans 532 key product categories, including essential pharmaceuticals, consumer electronics, and rare earth elements — materials indispensable to defence, green tech, and digital innovation. 

"Beijing knows this, and has already weaponised its control over rare earths by placing American defence and tech firms on its export control list.

When a nation controls 72% of your rare earth imports, you do not pick tariff fights unless you are ready for economic masochism.

Nor is the impact of these tariffs confined to urban industries. Farmers in Trump’s heartland — soybean growers in the Midwest, poultry producers in the South — are once again collateral damage.

These are the very people who powered Trump’s rise in 2016. And they are hurting. American soybean exports to China have never recovered from the first wave of trade wars. Chinese buyers have moved to Brazil, where the grain is cheaper and the diplomacy less abrasive."

Why Trump Could Lose His Trade War With China

Opinion1| Why Trump Could Lose His Trade War With China.

The Times Opinion columnist discusses what he thinks Trump — and American policymakers  — misunderstand about China in the escalating trade war. "Credit Credit..."

https://www.nytimes.com/2025/04/15/opinion/ezra-klein-podcast-thomas-friedman.html

The New York Times in a pice by Ezra Klein in a discussion Tom Friedman: "Thinks. We’re Getting China Dangerously Wrong".

 The Times Opinion columnist discusses what he thinks Trump — and American policymakers — misunderstand about China in the escalating trade war.

Milton Friedman (1912-2006) was a Nobel laureate in economics and senior research fellow at the Hoover Institution and served on President Ronald Reagan's Economic Policy Advisory Board. Margaret Thatcher was also a fan.

Leonard Read (1898-1983), founder of the Foundation for Economic Education (FEE), is best known for his essay "I, Pencil," which Milton Friedman used to illustrate the power of free markets and the invisible hand of the economy.

"Once, on a visit to China, a deputy minister asked, "Who in the America is in charge of materials distribution?" The question took me aback, yet it was natural. For it was almost inconceivable that a citizen from a command economy could understand how markets distribute materials among millions of people for thousands of uses untouched by political hands."

The countries that lend to America

Major foreign holders of United States treasury securities as of December 2024 (in billion U.S. dollars)

The Federal Reserve and U.S. Department of the Treasury say foreign countries held a total of 8.5 trillion U.S. dollars in U.S. treasury securities as of December 2024.

Of the total held by foreign countries, Japan has $1,059.8  and China held the greatest portions, with China holding 759 billion U.S. dollars in U.S. securities.

The Irish $336.2 in billion, may be related to American firms that are domiciled in Ireland.

The federal deficit

The federal deficit in 2024 was $1.8 trillion, equal to 6.4% of gross domestic product.

America is the sick man of the advanced world

U.S. healthcare spending per capita is almost twice the average of other wealthy countries

The average life expectancy in Western Europe is 83 years, while in the US it's 77 years.

Trump's America doesn't like foreigners

Europe highlights gender rules and entry risks and Finland's advisory, updated Tuesday, advises applicants to put their gender at birth. "If the applicant's recorded gender differs from their birth sex, US authorities may deny entry."

Several European countries, including Denmark, Finland, France, Ireland, the Netherlands, and Norway, have updated their travel advisories for the US, highlighting potential entry risks for transgender individuals and those with gender identity discrepancies, due to stricter US immigration measures.

'A hostile state': Why some travellers are avoiding the US

Trump signed an order on April 2, 2025, announcing global tariffs minus Russia 

Adrian Wooldridge of Bloomberg has written "If health means wealth, as the adage has it, then America’s economic future looks grim.

Traditionally, the U.S. has enjoyed a health premium. In the colonial era, American men were on average two to three inches taller than Europeans, according to military records, a fact that fascinates historical demographers because height is correlated with longevity, cognitive development and work capacity.

Today, a premium is turning into a deficit. American men are shorter on average than Northern European men, and the gap is getting bigger. Six in 10 Americans suffer from at least one chronic condition and 4 in 10 suffer from two."

"America is a sick society,” says William Galston in the Wall Street Journal. "Literally.”

Healthcare spending per capita is substantially higher in the US compared to Europe, yet the US lags behind on metrics like life expectancy and infant mortality.

Survival in the wealthiest U.S. quartile appeared to be similar to that in the poorest quartile in northern and western Europe.

The US is the sick man of the developed world.

Americans' living standards aren't nearly as good as they like to think they are.

Health expenditures per person in the U.S. were $12,555 in 2022, which was over $4,000 more than any other high-income nation. The average amount spent on health per person in comparable countries ($6,651) is about half of what the U.S. spends per person."

US personal savings are close to rock bottom

Personal Saving Rate - in 2024, the US was at 4.6%; 15.3% in the 20-country Euro Area, and 44.3% in China.