The Managing Editor of the Insight Newspaper, Kwesi Pratt Jr, has described the 10% tariff imposition on Ghana as United State of America’s (USA) desperate attempt to revive its declining economy.
He explained that all indications point to the fact that the western superpower is in decline and struggling for survival by leveraging other countries.
“America is an empire in decline. It’s a huge empire whose time has come; and it is struggling to survive,” he said during a discussion on Pan African TV on April 12, 2024.
He particularly stated that the US is highly indebted and its major infrastructure, according to research he has read, showed that major bridges and structures need to be revamped.
“America’s debt has ballooned beyond $3 trillion, running into $4 trillion. Even infrastructure including bridges, rail system in America compared to China presents one as being from the 20th century while one is from the 1st century.
“In America’s bid to revive a declining economy, (they) brought back Donald Trump whose slogan strongly painted the true image of America’s state. The slogan ‘Make America Great Again’ suggests that America is no longer great,” he stated.
The veteran journalist challenged the impression created by America that it is being cheated by its competitors and other countries.
“These imposition of tariffs by America appear to suggest that it is being cheated by the world, but this impression is absolutely wrong as it is America that has cheated other countries through wars, transatlantic slave trade, colonialism and more recently neocolonialism,” he stated.
He argued that the era where America rose to prominence through industrialisation is in the past and that no level of tariff imposition will restore the enormous impact it had in the past.
“Even if Trump imposes 10,000% tariffs on the world, it will not bring production back to the USA. The cost of labour per the framework of America can never be as cheap as labour in China and other industrialised countries.
“For instance, if the cost of production of a Nike shoe is $1000, the same could be done in China $10,” Kwesi Pratt explained.
VPO/AE
Meanwhile, catch up on the concluding part of the story of Fort William, where children were sold in exchange for kitchenware, others, below:
