#ChinaChinaChina Propaganda by Republicans Could Result in Serious Consequences for the United States

Republicans have been engaged in a propaganda attack against China regarding the coronavirus, working to lay blame on China and divert attention, and blame, from the moron in the White House.

It could backfire.

China is extremely dissatisfied with the abuse of litigation by the US against China over the COVID-19 epidemic, and is considering punitive countermeasures against US individuals, entities and state officials, such as Missouri’s attorney general Eric Schmitt, who filed a lawsuit against China,  seeking compensation for the coronavirus pandemic, sources close to the matter told the Global Times exclusively. At least four US Congress members, including Josh Hawley and Tom Cotton, and two entities will be put on China’s sanctions list, analysts said. 

China won’t just strike back symbolically, but will impose countermeasures that will make them feel the pain, analysts said. 

Some US lawmakers and state governors as well as attorneys who are also GOP hawks have filed lawsuits against China, alleging that the Chinese government mishandled the epidemic and it caused severe economic consequences in the US.

“While the Chinese government makes adjustments to business relations between China and states like Missouri or Mississippi, local economies would likely be under pressure, or special interests of certain officials might be affected,” Diao [Daming, a US studies expert at the Renmin University of China in Beijing] said.

Missouri, together with other states like Michigan, South Carolina and Texas, had taken measures to make it easier for Chinese investment to come in and boost local job growth years ago. For example, in 2013, one week before Chinese company Shuanghui purchased Smithfield Foods, the Missouri legislature amended a law clearing the way for approval.

Hong Lei, then Chinese Consulate General in Chicago, said in a speech in 2017 that Chinese companies invested more than $1.1 billion in Missouri, creating 4,500 jobs.

Global Times

Jobless rate spikes to 14.7%, highest since Great Depression

The U.S. unemployment rate hit 14.7% in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record. The figures are stark evidence of the damage the coronavirus has done to a now-shattered economy.

The losses reflect what has become a severe recession caused by sudden business shutdowns in nearly every industry. Nearly all the job growth achieved during the 11-year recovery from the Great Recession has now been lost in one month.

AP

Related:

States face economic death spiral from coronavirus

Related:

The U.S.’ coronavirus recovery is way behind Europe’s

After three years of economic mismanagement a Trump Recession is imminent

A new quarterly survey from the respected National Association for Business Economics shows the American economy slowing after an unprecedented 123 months of expansion following The Great Recession. That means that we’re beginning to see less hiring in the private sector and disappointing wages for new employees among middle-class suburbanites, a long-time Republican constituency now deserting the party in droves.

Alternet

More Proof of Another Republican Big Lie (“Tax Cuts for Corporations Will Boost Jobs and Help the Working Class”)

Remember what Republicans called the “Tax Cuts and Jobs Act”?

As you know (if you’ve been paying attention), the “Jobs” part of the Republican bill was a huge lie.

Corporations didn’t generally invest in their companies, their workforce, or create jobs. They spent BILLIONS buying back shares to boost the stock price (executives’ bonuses get a boost when the company’s stock price goes up).

Five companies blow $55 billion in Q1 to prop up their own shares.

Wolf Street

Universal Basic Income: Be Careful What You Wish For.

John Yang is trying to corral the millenial vote by promising everybody a free chicken in every pot ($1,000 per year).

Remember: Republicans will oppose it and if it’s enacted, they’ll look for ways to claw back the money from other programs (Social Security, Medicare, Medicaid, Food Stamps, etc.).

Look at the conservative-governed U.K. for an example:

Almost 2m people will lose £1,000 a year with universal credit.

Those on disability benefits and low incomes will be among worst affected

The Guardian