US President Donald Trump blames massive drop in oil prices and US stock market on Saudi Arabia, China and Russia. The US markets are following their Asian and European counterparts into a deep plunge.
Shares of oil producers have dropped by double digits after opening amid a 30% fall in crude price. Trump also blamed the “fake news,” presumably referring to coverage of the Corona-virus epidemic, for the market’s downfall.
Dow Jones slid by almost 1,900 points, or 7.29%, prompting a 15 minute pause in trading on the New York Stock Exchange. The stock prices of Exxon Mobil and Chevron dropped by over 14%, while the S&P 500 and Nasdaq plunged by over 7% on Monday too.
The president’s indecisiveness was met with derision by the tweeting masses, who pointed out that he’d essentially pegged his presidency’s success to the stock market by constant harping on the rising Dow.
From Corona-virus, to hi-tech, or even sports – according to mainstream media, we must be wary of Beijing’s ulterior motives in all circumstances. But the actions of Western governments across these same theaters are being ignored.
For people living in places like Australia, New Zealand or under the firm grip of the Trump administration, media fearmongering in respect of China’s expanding influence is almost a daily occurrence.
You can’t sleep safely at night for fear of seeing the hidden hand of Beijing masquerading under your bed.
The further accusations leveled by the Trump administration are more extensive, ranging from cyber concerns to genuine panic over China’s increasing naval and missile capabilities, particularly in key geo-strategic locations such as the South China Sea and the wider Indo-Pacific region.
According to some recent insight from the Washington Post, China is also seeking to slowly take over the UN, currently heading up four of the 15 UN specialized agencies while vying to cement a fifth.
Allegedly, the problem here is that Chinese civil servants leading these organizations will solely promote Chinese interests. I shiver at the idea of a UN promoting China’s Silk Road Project and not, for example, the destruction of wealthy ripped off North African nations.
We’ve seen these accusations many times before. In the last few months, the media has alleged that China has “weaponized” the smartphone, the global supply chain, drug exports, artificial intelligence (AI), water, rare earth minerals, nationalism, tourism, currency, and the list goes on. Where will it end?
Beijing has already forgiven $10 billion worth of debt, with around half of these cancellations going to some of the world’s poorest countries, particularly in Africa.
Even if the accusations against China were true to the fullest extent envisioned by the mainstream media, it still blows my mind that Chinese funding and investment in projects in poorer countries is somehow aeons worse than one nation in particular out there who actively projects its influence across the globe through the use of brute force.
The Chinese government must likewise be weaponizing medicine, swimming, education and a whole lot of other things while it vies to take over the entire world.
RT. com / ABC Flash Point News 2020.