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Sunday, 4 October 2020

From The Economist

From The Economist: If Biden wins the election, he will face numerous problems, Trump's chaotic approach adds to the difficulty 

  • The Democratic candidate in America is supposed to be leftist, but that is not the reality
  • The virus epidemic put the president at a disadvantage
  • The decision will be difficult because of Biden's pragmatic attitude
All eyes are on Joe Biden, the Democratic candidate for the US presidency. In the first debate between the two candidates, President Donald Trump called his rival a business tycoon. Trump accused Biden of dramatically expanding the government apparatus under pressure from the left. However, Biden's leftist ideology is also feared by some of America's biggest businessmen. This allegation is not true. Biden has rejected the idealist ideas of the Left. His proposal regarding taxes and government expenditure is justified. Biden, on the other hand, will have a legacy of problems if he is elected president. Trump has created a mountain of problems for them.

Biden needs to propose a slight increase in government spending, yet his goal is to solve America's real problems. The country’s infrastructure is crumbling, and the problems associated with climate change and small businesses need to be addressed. However, Biden's proposal is not far-reaching in some areas. When Trump took office in 2017, he hoped to move the business forward quickly. The hotline between the president's Oval Office and businessmen promised a reduction in taxes and government intervention. The scheme was working to some extent before the epidemic. The stock market was booming, with small employees' wages rising at an annual rate of 4.7%. Trump could have won re-election if the virus had not spread.

Trump's shortcomings came out in the epidemic. A number of problems emerged, including a crumbling economy and inadequate social security. Businesses have weakened. Investment does not come. However, the influence of large companies has increased. Trump's chaotic approach is detrimental to the growth rate, such as an attack on the rule of law, public humiliation of companies. The benefits of a war with China have diminished, but the global trading system has become unstable.

Joe Biden will face a number of challenges as the 46th president to win the November 3 election. In 2021, 5 million people will be at risk of long-term unemployment. The bidder has to give a package of two to three trillion. Can ease the market by reducing tensions with China. Biden's policy of collaborating with other countries will facilitate its distribution to the world if a virus vaccine is introduced. Biden will have a hard time making bold decisions because of his pragmatic attitude. Biden wants to save the companies, but there is no concrete offer of competition between them. Biden will have to make bold decisions to defeat America.

Breaking infrastructure and China's challenge are important

Biden will have to focus on the problems that have plagued America for years. They want to build a huge climate-friendly infrastructure. America's Bridge is 43 years old. Government spending on research has fallen from 1.5% of GDP in 1960 to 0.7%. In the field of science, China is seriously challenging America. Biden will ease the sanctions Trump imposed on outsiders. They want to spend more on education, health services and housing. Which is not a socialist or leftist agenda.

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