Summary

Trump had to reverse his aggressive tariff rhetoric after CEOs from Walmart, Target, and Home Depot warned of empty shelves and higher prices due to supply chain disruptions.

Investors reacted negatively to his threats against Fed Chair Jerome Powell, prompting a market sell-off.

Trump backtracked, expressing optimism on a China trade deal and now denying plans to fire Powell.

Global markets remain volatile, and the IMF cited Trump’s trade war as a “major negative shock” to global growth.

  • anarchiddy@lemmy.dbzer0.com
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    10 hours ago

    There’s a reason why Marx coined a term referencing ‘dictatorship’ that included elements like ‘direct democracy’. He sought to exclude the capital class entirely from it, and so referred to it as dictatorship ‘of the working class’. Marx specifically saw liberal democracy as one designed for the borurgeoisie, and so using that as a basis of comparison for a socialist project is counter-productive

    When liberals accuse China of being a ‘dictatorship’, they’re pointing to the parts of China’s democracy that differ from western democracy that specifically have to do with the inclusion of the capital class. Even a single-party state can be of the working-class and have direct-democracy, as is China’s.

    You’re free to disapprove of China’s system of government (I have scruples about it myself), you simply can’t reasonably argue they are a dictatorship by any modern standards(at least, in no other way than in Marx’s own use of the term).

    Far from ‘approving’ of their system of governance, though, their state-controlled economy is definitionally socialist.