The Big Tech and the American challenge
After world war II, the world was basically divided into two alternatives: capitalism, led by the US and Europe, and communism led by the then Soviet Union. Of course, we had the “unaligned” nations negotiating their relationship with both sides.
But what we had were sovereign nations fighting for the sans destinies, for the best for their peoples.
Multilateral agreements have become widespread and the economy has become international, trying to overcome national borders in trade in goods and services.
Gradually the U.S. was, even being the largest food producer and exporter of goods, gaining space in the export of services.
According to data available from the Commerce Department, in 2019 the U.S. exported $853.3 billion against an import of $564.3 billion in private services.
Services as a whole totaled $1.7 trillion while imports of services from third countries total $1.2 trillion, noting that much of this import” comes from branches of U.S. companies located offshore for tax reasons.
Today the only surplus area of the U.S. balance of payments is in the service area.
To defend the power of governments, gradually, global ideals have been replaced by bilateral agreements, which have gained ground in recent decades, particularly during President Trump’s administration.
But the Big Tech monster had no connection to the country that gave rise to it anymore. They had and have interests of themselves, far superior to the interests of the country that is their initial cradle.
The loss of billions of dollars spent too much, due to the immigration rules of professionals carried out in the previous government and the trade war with China, which raised the costs of its products manufactured in China, gave the impetus that big tech sums up to seek power in the elections in the country that would subordinate it to its commercial interests.
Today we no longer see the American interest in ensuring benefit for their companies, but the Big Tech tying the American Government to defend its interests.
It is worth considering whether U.S. Treasury Secretary Janet Yellen’s proposal to create global taxation for multinationals is aimed at taxing them or protecting them from national taxes, which are increasingly imposed on them.
Europe has defended itself as it can of these corporations, with rules and limitations, and it certainly did better than the US.
But the High Tech alliance with China presents a major challenge for Western governments.
China has an interest in power, and according to the Document of the Chinese Communist Party, will dominate world trade by logistics until 2025 and, very efficiently, goes for this with the silk route in Europe, the control of the two entrances of the Panama Canal, the acquisition of major ports and the making of railways in Africa and Latin America , among others and multiple examples.
This is a great alliance, which the U.S. has succumbed to.
Not that this situation jeopardizes the American economy and prosperity. on the contrary. It is in the general interest of China and Big Tech to keep the U.S. as a generator of state-of-the-art technology and capitalizing of companies around the world, including and especially Chinese and high-tech companies.
Some even say that the US will be China’s new Hong Kong, but this is already above what can be considered valid at the moment.