As part of its trade row with Beijing, the United States hit the Chinese tech giant Huawei’s business last week, issuing new regulations limiting global chip exports to the firm.
RT’s Boom Bust talks to Todd Horwitz of Bubba Trading about the two superpowers’ trade relations, wondering if the United States could completely decouple from China and what the consequences would be.
“The US has too much stuff with China,” Horwitz says, adding that it’s a major problem. “I’m happy that we are pulling away, I believe that we can be self-sustaining…”
“It was cheaper to come to China but the cheaper comes at cost, that’s why we have so many issues… My point is very simple – we should not have our core items over in China, like drugs and things like that.”
Horwitz continues: “At the end of the day, I don’t think it’s that big of a deal, and I think we can certainly survive and will thrive without China if it ever comes to that.”
He adds that Americans will be happy to get more jobs in the US and “it would be nice to have higher-paying jobs back here…”
The strategist explains that over the years the “US has totally gone into a service sector; we don’t have those manufacturing jobs… You can’t hire everybody in McDonald’s or Walmart.”
If more of the US population participates in those jobs and makes a good living the American economy will flourish, he says. “So, I think the more you can manufacture in America the better off you are going to be.”
For more stories on economy & finance visit RT’s business section
