Are China and Usa profiting with Corona crise?

question from those who live outside the USA:

I live in south america, and here the coronavirus crisis is making the rich very rich and the poor poorest.
I followed the news on English-language websites and saw that many Americans lost their jobs, postponed the mortgage on the house are dying of loneliness (elderly people) and committing suicide more. Is that serious?

At the same time I saw some Latin youtubers who are already Americans saying that Trump is giving money to the people, in the form of benefits and very good loans. That many ordinary Americans are making money from the crisis (as opposed to poor countries where only the elite are profiting).

When the crisis started, only China started to profit at the moment because there is a dependence on medicines and equipment from that country, so the whole conspiracy theory makes sense.

A QUESTION TO AMERICANS: How did the crisis affect the American middle class?

GRATEFUL FOR THE ATTENTION
 
Im not American but I think i can answer it.

The crisis is making the rich richer and everyone else is becoming poorer. 1/3 Americans are having trouble paying rent. Businesses are being shut down by government and money is being inflated - this makes the people holding assets (the rich) richer while everyone else not holding assets become poorer. The government is giving multi million dollar loans to businesses that invest into the stock market and other assets which further inflate asset prices.

I would say the top 5% of Americans are benefiting and everyone else is getting shafted. Trump is giving some money to the people but he giving a lot more money to the rich corporations. In comparison with other Western countries US government is giving less money to their citizens.

Not sure if USA is profiting from this. If anything they are losing a lot from all the debt that is being created to stimulate the economy.
 

skullmask

Woodpecker
I live in south america, and here the coronavirus crisis is making the rich very rich and the poor poorest.

Same here in the USA. Lots of people out of work, lots of loneliness (I'm feeling it too) and the rich as always are doing just fine. Small business is hurting especially. All the "big box" stores like walmart and major chains are doing ok though. Word on the street is that supposedly the big corporations gobbled up all the federal aid money, while the small businesses got screwed. People have a hard time getting their unemployment claims processed, resulting in long delays before they can get an unemployment check.

One personal example: The local used appliance store I bought my current fridge from went out of business. Which kinda sucks, because I found out only after wanting to see if they had any chest freezers available. Chest freezers are kinda scarce right now.
 
In canada people are really suffering mentally. Excess suicides seems to already be higher then total covid deaths. many more to come. a lot of people I know have become alcoholics. a lot are too scared to leave the house still.
Yeah, its crazy. The negative effects of this are seriously outweighing the positives.
 

911

Peacock
Gold Member
China isn't profiting from covid, they've initially paid an economic price for locking down that greatly exceeds the profits they might have made from making more masks and other covid-related stuff. But overall, they have weathered the crisis fairly well, considering they were the first hit. Their 2020 GDP will show a small growth, around 2.1%, vs the staggering annual 6%-7% growth they've had the last several decades. They are however well positioned to recoup some of that lost ground in 2021, with growth forecast above 8%, which is staggering for an economy their size, they will be adding to their GDP the equivalent of the GDP of Australia in one year...

China didn't damage their economy to the point where they couldn't rebound, and are set to experience a V-shaped recovery whereas in most Western states, the damage inflicted in small businesses wiped out and crushing bailout debt is nearly crippling, while the oligarchs position grows ever stronger in what will be a K-shaped small recovery. The most disgusting aspect of this of course is that those are largely self-inflicted wounds that have been inflicted by the oligarchs in order to push their social engineering agendas and implement their control grid, further cutting down the middle class after having spent the past few decades actively deindustrializing and outsourcing to China and the rest of the third world.
 
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China isn't profiting from covid, they've initially paid an economic price for locking down that greatly exceeds the profits they might have made from making more masks and other covid-related stuff. But overall, they have weathered the crisis fairly well, considering they were the first hit. Their 2020 GDP will show a small growth, around 2.1%, vs the staggering annual 6%-7% growth they've had the last several decades. They are however well positioned to recoup some of that lost ground in 2021, with growth forecast above 8%, which is staggering for an economy their size, they will be adding to their GDP the equivalent of the GDP of Australia in one year...

China didn't damage their economy to the point where they couldn't rebound, and are set to experience a V-shaped recovery whereas in most Western states, the damage inflicted in small businesses wiped out and crushing bailout debt is nearly crippling, while the oligarchs position grows ever stronger in what will be a K-shaped small recovery. The most disgusting aspect of this of course is that those are largely self-inflicted wounds that have been inflicted by the oligarchs in order to push their social engineering agendas and implement their control grid, further cutting down the middle class after having spent the past few decades actively deindustrializing and outsourcing to China and the rest of the third world.

Would you not say they're profiting by seeing the US shatter?
 

lookslikeit

Woodpecker
The US tech sector did certainly profit from the coronavirus but the US economy as a whole didn't. Unless the tech sector makes up more than two third of the US economy, the Covid is bad news for the Americans. However, it certainly will fare better (along with China) than the rest of the world which has neither a tech sector nor the ability of China to produce lots of stuff.
 
The US tech sector did certainly profit from the coronavirus but the US economy as a whole didn't. Unless the tech sector makes up more than two third of the US economy, the Covid is bad news for the Americans. However, it certainly will fare better (along with China) than the rest of the world which has neither a tech sector nor the ability of China to produce lots of stuff.
Agree with this.
 
I think geopolitically, if in 2020 we were living in a time shifting again towards multiple powers (not just USA lead west, 1990-2020 dominating the world) I think this has accelerated changes. I.e: This has not been good for USA and EU, but good for China, as they havent been hit so hard, so they are accelerating in closing the difference in the gap between world powers.
 
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