Trump: China’s stock market crash is similar to the 1929 US stock market crash

Los Angeles, United States, October 22, 2018/QY Research, Inc.

China and the United States are fighting a trade war, and the plunge in China’s stock market has caused concern in the United States, and the United States has often used this to attack China.

US President Donald Trump spoke about the Sino-US trade war in an interview with Columbia TV’s “60 Minutes” program.

Trump said he has imposed tariffs on China’s $250 billion in goods.

When asked if he would tax more goods, Trump said to see the situation. He also said that China wants to negotiate.

Trump also said: “I have a very good chemical reaction with President Xi of China. I don’t know if this will continue. I told President Xi that we cannot continue to let China take 5,000 from the United States every year through trade and other forms. One hundred million U.S. dollars.”

When asked about China’s retaliation, Trump said that China can retaliate, but there is not enough ammunition to retaliate. “We exported $100 billion worth of goods to them. They exported $ 531 billion worth of goods to us.”

When asked if they were trying to push China into recession. Trump said: “No, no. Although their stock market fell by 32% in 4 months, it is like 1929 (the US stock market crash).”

Trump also said: “I don’t want this. I don’t want to. I want them to negotiate a fair deal with us. I want them to open up the market and think that our market is as open.”

Trump also said that China and the United States did not fight trade, but a small conflict. “We will win.”

The 1929 US stock market crash was a historical event and a collapse of the New York Stock Exchange.

In this stock market crash, thousands of people have committed suicide by jumping off the building. Many investors in the investment industry have also lost their lives in this stock market disaster.

The impact of the stock market crash on the US economy has continued for decades. The stock market crash has completely hurt investors’ confidence. People have changed their stocks and their investment mentality has not recovered for a long time. The stock market crisis, the banking crisis and the crisis of the entire economic system are a vicious circle of mutual promotion. After the stock market crashed, investors suffered heavy losses, consumer desires were greatly reduced, and commodity backlogs were more serious. At the same time, the stock market and banks have experienced a crisis, which has made it impossible for companies to find financing channels and production slumps, which in turn has aggravated the crisis of the stock market and banks. The US economy is worse.

As the United States occupies an important position in the world economy, its economic crisis has triggered a Great Depression throughout the capitalist world: 50 million people are unemployed, countless people have been displaced, hundreds of billions of dollars of wealth have been lost, production has stagnated, and the industry has withered. The Great Depression that emerged from 1929 to 1933 was mainly characterized by the following: First, the output and prices fell sharply. Second, the stock market plummeted. In the past three years, the stock market plunged 85%, and people almost regarded the Great Depression as a stock market crash. The third is the high unemployment rate, and the Great Depression brought a lot of unemployment. From 1031 to 1940, the unemployment rate averaged 18.8%.


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