* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, June 27, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    Wayve Expands Engineering Leadership to Power Next-Gen Autonomous Driving Technology – Silicon Canals

    Wayve Boosts Engineering Leadership to Accelerate Next-Gen Autonomous Driving Innovation

    Frontdoor Announces Tech Expert Dr. Bala Ganesh as Chief Technology Officer – Business Wire

    Frontdoor Appoints Tech Visionary Dr. Bala Ganesh as New Chief Technology Officer

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    China’s Military Introduces Mosquito-Sized Drones: A Game-Changing Surveillance Technology – Indian Defence Review

    China Unveils Mosquito-Sized Drones: Revolutionizing Surveillance Technology

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    Wayve Expands Engineering Leadership to Power Next-Gen Autonomous Driving Technology – Silicon Canals

    Wayve Boosts Engineering Leadership to Accelerate Next-Gen Autonomous Driving Innovation

    Frontdoor Announces Tech Expert Dr. Bala Ganesh as Chief Technology Officer – Business Wire

    Frontdoor Appoints Tech Visionary Dr. Bala Ganesh as New Chief Technology Officer

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    China’s Military Introduces Mosquito-Sized Drones: A Game-Changing Surveillance Technology – Indian Defence Review

    China Unveils Mosquito-Sized Drones: Revolutionizing Surveillance Technology

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Biden’s Debate Disaster Puts Asia’s $3 Trillion U.S. Debt At Risk

July 6, 2024
in Business
Biden’s Debate Disaster Puts Asia’s $3 Trillion U.S. Debt At Risk
Share on FacebookShare on Twitter

U.S. President Joe Biden looks on as he participates in the first presidential debate of the 2024 elections with former U.S. President and Republican presidential candidate Donald Trump at CNN’s studios in Atlanta, Georgia, on June 27, 2024.

ANDREW CABALLERO-REYNOLDS/AFP via Getty Images

The costs of Joe Biden’s disastrous debate performance could be highest for Asia — $3 trillion high, in fact.

That’s roughly the amount of U.S. Treasury debt sitting on the balance sheets of Asia’s major central banks. Japan is most exposed with $1.2 trillion, followed by China with $770 billion. Talk that President Biden’s reelection bid is doomed has policymakers fearing the worst about vast sums of state assets.

Never mind the epic trade wars a Donald Trump 2.0 White House would unleash on a region he’s long blamed for all of America’s challenges. Dating back to his days as real estate mogul, Trump thinks Asia thrives by stealing U.S. jobs, income and wealth.

In the runup to the November 5 election, Trump is previewing 60% tariffs of all Chinese goods and revoking Beijing’s “most favored nation” trade status. He’s threatened 200% taxes on autos. He’s even talked of replacing all U.S. taxes with levies on foreign goods.

Suffice to say, most Asian leaders hoped Biden had this election sewn up. But his cognitively challenged June 27 debate with Trump was a game-changer of the highest order.

Suddenly, the specter of Trump making giant trade clashes great again appears to be the most likely scenario as polls turn against Biden.

The panic among currency reserve managers overloaded with dollars may be most acute considering Trump’s nutty plans for a second term.

Trump the businessman, remember, has been a serial bankruptcy filer since at least the early 1990s. On the campaign trail in 2016, Trump spooked Wall Street by hinting at a default on U.S. debt.

“I would borrow, knowing that if the economy crashed, you could make a deal,” Trump told CNBC when asked about his fiscal plans. “And if the economy was good, it was good. So therefore, you can’t lose.”

In April 2020, the Washington Post reported that Trump officials, looking to punish China, mulled cancelling debt held by Beijing. With the U.S. debt mushrooming toward $35 trillion, it’s not hard to understand how much of a catastrophe that would be.

Anyone who thinks such fears are ludicrous hasn’t been paying attention to Trump’s policy wish-list.

Look no further than the “Project 2025” manifesto the Heritage Foundation wrote up for Republicans. It could see Trump moving to abolish the Federal Reserve, revert back to a gold-backed currency and neuter enforcement of financial shenanigans.

Trump has talked of devaluing the dollar to gain trade advantage, Argentina-style. Efforts during his first term to shake down allies in Asia that host U.S. troops — including Japan and South Korea — will surely be a key priority in a second.

On July 1, the Supreme Court ruled that Trump, and future presidents, are effectively immune for anything they do as an “official act.” That’s carte blanche for Trump more recklessly than ever at home and abroad.

For Japanese Prime Minister Fumio Kishida, Biden’s big stumble makes this even more of a nightmarish year. At the start of 2024, the Bank of Japan seemed certain to end its 23-year-old quantitative easing regimen.

Instead, Asia’s second-biggest economy is contracting, the yen is plunging and China is slowing. Prospects are poor for widespread wage gains to hasten economic growth. And Kishida faces a real prospect of being ousted in a September election within his ruling Liberal Democratic Party.

A cratering economy, coupled with finance scandals among party members, has driven Kishida’s approval rating down to 21%. Within Kishida’s party, the specter of Trump returning would ring loud alarm bells.

The same goes for South Korean President Yoon Suk Yeol, who also spent considerable political capital cozying up to Biden’s White House. Along with huge losses on its Treasury securities, Korea’s export-reliant economy could get trumped.

That’s not to say all major leaders in Asia are sad to see Trump’s second-term odds skyrocket. North Korea’s Kim Jong Un would love to get a few more summits with Trump, perhaps in the Oval Office.

And though Xi might not relish the trade wars to come, China would welcome Trump 2.0 in other ways. Anything that alienates close U.S. allies and pushes Washington into turmoil and dysfunction would play into Beijing’s hands.

That could be true even if Trump loses. There’s a zero percent chance that Trump would concede graciously and move on, virtually ensuring another insurrection akin to January 6, 2021. When Fitch Ratings revoked Washington’s AAA status last year it cited the polarization behind that day.

All this means America’s Asian bankers may have little choice but to buckle their seatbelts and hope for the best as $3 trillion hangs in the balance.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Forbes – https://www.forbes.com/sites/williampesek/2024/07/05/bidens-debate-disaster-puts-asias-3-trillion-us-debt-at-risk

Tags: Biden’sbusinessdebate
Previous Post

Inagua: 3 Must-Visit Spots For Nature Enthusiasts In The Bahamas

Next Post

4 Ways To Build A Long-Lasting Relationship, From A Psychologist

St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

June 27, 2025
NBA Draft 2025: Did the Hornets reach for Kon Knueppel? And why the Spurs did the right thing with Dylan Harper – Yahoo Sports

NBA Draft 2025: Did the Hornets Overreach for Kon Knueppel? Why the Spurs’ Pick of Dylan Harper Was a Brilliant Move

June 27, 2025
Fossil evidence of proboscidean frugivory and its lasting impact on South American ecosystems – Nature

Fossil evidence of proboscidean frugivory and its lasting impact on South American ecosystems – Nature

June 27, 2025
Distrust in public-health institutions is not just an American problem – The Economist

Distrust in public-health institutions is not just an American problem – The Economist

June 27, 2025
Cuts to federal science spending will cost every American – University of California

Cuts to federal science spending will cost every American – University of California

June 27, 2025
CCTA Bests CV Risk Scores for Bolstering Lifestyle Changes, Medication Uptake – TCTMD.com

CCTA Bests CV Risk Scores for Bolstering Lifestyle Changes, Medication Uptake – TCTMD.com

June 27, 2025
TIFF announces first wave of World Premieres! – TIFF – Toronto International Film Festival

TIFF announces first wave of World Premieres! – TIFF – Toronto International Film Festival

June 27, 2025
With no end to war in sight, Ukraine’s economy teeters on the edge – The Washington Post

Ukraine’s Economy on the Edge as Conflict Shows No End in Sight

June 27, 2025
A typical workday for freelancer Ashley Abramson – Association of Health Care Journalists

A Day in the Life of Freelancer Ashley Abramson: Inside Her Dynamic Workday

June 27, 2025
‘This is not a luxury’: Families in Trump states agonize over GOP’s proposed Medicaid cuts – CNN

Families in Trump States Face Hardship Amid GOP’s Push for Major Medicaid Cuts

June 27, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (699)
  • Economy (719)
  • Entertainment (21,613)
  • General (15,586)
  • Health (9,758)
  • Lifestyle (724)
  • News (22,149)
  • People (721)
  • Politics (726)
  • Science (15,937)
  • Sports (21,216)
  • Technology (15,704)
  • World (699)

Recent News

St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

June 27, 2025
NBA Draft 2025: Did the Hornets reach for Kon Knueppel? And why the Spurs did the right thing with Dylan Harper – Yahoo Sports

NBA Draft 2025: Did the Hornets Overreach for Kon Knueppel? Why the Spurs’ Pick of Dylan Harper Was a Brilliant Move

June 27, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version