{"id":117802,"date":"2019-04-06T17:30:13","date_gmt":"2019-04-06T17:30:13","guid":{"rendered":"https:\/\/www.bnreport.com\/is-america-losing-its-grip-on-world-economy-5-big-defeats-for-us-financial-interests-abroad\/"},"modified":"2019-04-06T17:30:13","modified_gmt":"2019-04-06T17:30:13","slug":"is-america-losing-its-grip-on-world-economy-5-big-defeats-for-us-financial-interests-abroad","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/is-america-losing-its-grip-on-world-economy-5-big-defeats-for-us-financial-interests-abroad\/","title":{"rendered":"Is America losing its grip on world economy? 5 big defeats for US financial interests abroad"},"content":{"rendered":"

Donald Trump made it a banner promise of his presidency to stop the US being abused as the worlds \u201cpiggybank\u201d \u2013 but not all foreign powers seem to be cowed into submission by his assertive style of foreign economic policy. <\/p>\n

The United States remains the worlds second-biggest exporter after China, but these five cases show that it cant always get its own way \u2013 even among its allies. Is this a consequence of Trumps personal abrasiveness, a period of painful adjustment before as the giant rouses, or perhaps a harbinger that the rest of the world no longer needs America as much as it used to?<\/p>\n

No US alternative to Huawei<\/h2>\n

Washington tried to scare other Western countries into dropping a Chinese telecoms giant from supplying 5G network equipment, claiming Beijing could capture any data transferred through Huawei devices \u201cat will.\u201d<\/em> But both Germany and the UK refused to bar Huawei from participating in tenders, with Berlin publicly rebuking Washington by saying that it has its \u201cown security standards.\u201d<\/em><\/p>\n

Also on rt.com Merkel on Huawei: Germany wont exclude 5G providers just because they come from China <\/a><\/p>\n

The impact will be massive: the super-fast network will power not just telephones and computers, but likely any piece of sophisticated electronic equipment in your home for years to come.<\/p>\n

Did Washington fail because the case made by its officials appeared to be based entirely on evidence-free hypotheses, to follow other red scares of various hues? Or was it because the US has no 5G provider of its own to match up with the might of Huawei, on which countries around the world have become increasingly reliant?<\/p>\n

Brussels sets trap for tech giants<\/h2>\n

The EU led a futile crusade to dismember Microsoft in the 1990s, but the assault on American tech giants by European lawmakers both in Brussels and through national governments is on an entirely different scale.<\/p>\n

From trying to regulate Facebook and Twitters content monitoring to Amazons tax practices to harrying Google for abusing its dominant position and levying a record $5 billion fine, the European Union has set itself up for years in the courtrooms against the American giants legal teams.<\/p>\n

Also on rt.com Pompeo urges France not to tax American tech firms as competition with China heats up <\/a><\/p>\n

Ironically, with its hunt for Russian trolls and fake news, the US has done more than any other country to tarnish the image of its own companies, meaning that almost any measure against them, however punitive or unrealizable, will be met with no resistance from the public.<\/p>\n

Uber not (always) welcome<\/h2>\n

If the battle against the EU is a grand strategic campaign, the difficulties faced by US peer-sharing companies like Uber and Airbnb are more akin to a street-by-street city battle, and for every new market they have cracked, a lucrative one wipes out their business at the stroke of a single vote or edict.<\/p>\n

Also on rt.com Madrid taxi drivers block city center as they step up anti-Uber protest (VIDEO) <\/a><\/p>\n

Uber is currently locked out from markets as diverse as China, Turkey, and much of the European Union, while new labor regulations elsewhere could lessen its advantage versus traditional cab providers. Meanwhile, Airbnb struggles with pushback in many of the worlds most popular destinations, including Paris, Barcelona, Los Angeles and Japan.<\/p>\n

Worst of all, rather than being regarded as innovations that make life easier \u2013 which they often do for the end consumer \u2013 these unicorn disruptors are increasingly being treated as law-skirting, employee-abusing parasites.<\/p>\n

Nord Stream 2 goes ahead<\/h2>\n

The US is betting on liquefied natural gas (LNG) becoming the worlds top fuel by the end of the next decade. But to propel itself to the top of the new export industry, which requires heavy investment in infrastructure for a product that is not always competitively priced, the US has had to use all of its economic and lobbying prowess.<\/p>\n

So every one of the dozens of times Donald Trump \u2013 with backing from draconian Senate legislation \u2013 has insisted that Germany must abandon its Nord Stream 2 project with Russia, he has not just been fearing the Kremlins hold over Berlin, but propping up American LNG exporters. Germany has held firm, preferring to divorce house heating from politics and US interest.<\/p>\n

Also on rt.com Full stream ahead: RT takes a peek at progress on co<\/a>Read More \u2013 Source<\/strong><\/a><\/p>\n

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RT<\/a><\/h5>\n

[contfnewc]
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