I’m not so sure about this. One of the knock-on effects of the Ukraine conflict raising European energy prices is that European (particularly German) industry is relocating to the US for its lower input costs. After what transpired with Nord Stream 2 being destroyed by the UK under the US’s orders, it’s not outside the realm of possibility that they were seeking to keep Germany from lowering its energy prices to maintain this migration. (The simpler, more obvious reason is to keep Germany from negotiating into neutrality, but the reasons aren’t mutually exclusive or even conflicting.)
I think it’s less a case of Europe dragging down the US so much as the US appropriating Europe’s secondary industries to make up for its declining tertiary sector. A sign of Empire in decline, yes, but the US isn’t in danger of suffering as much as Europe.
It’s figuratively the US ship shoring up its leaks by taking pieces off the sinking EU ship
Another factor is that US isn’t the only game in town. I expect that a lot of industry will move to Asia, and to China in particular. US simply can’t compete with China when it comes to industrial production capacity. China is also a huge market and the economy there is much more stable than in US.
Basically, trying to cannibalize your allies is incredibly short sighted, and it shows lack of vision in US leadership.
I’m not so sure about this. One of the knock-on effects of the Ukraine conflict raising European energy prices is that European (particularly German) industry is relocating to the US for its lower input costs. After what transpired with Nord Stream 2 being destroyed by the UK under the US’s orders, it’s not outside the realm of possibility that they were seeking to keep Germany from lowering its energy prices to maintain this migration. (The simpler, more obvious reason is to keep Germany from negotiating into neutrality, but the reasons aren’t mutually exclusive or even conflicting.)
I think it’s less a case of Europe dragging down the US so much as the US appropriating Europe’s secondary industries to make up for its declining tertiary sector. A sign of Empire in decline, yes, but the US isn’t in danger of suffering as much as Europe.
It’s figuratively the US ship shoring up its leaks by taking pieces off the sinking EU ship
I do think that blowing up Nord Stream was at least in part intended to force Germany into deindustrialization.
The problem for US is that Europe is the biggest export market, and if European economy collapses that’s necessarily going to have a knock-on effect on US economy. U.S. goods exports to the EU 27 in 2019 totaled $267.6 billion, up 6.2 percent ($15.7 billion) from 2018 and up 53 percent from 2009. U.S. exports to the EU 27 account for 16.3 percent of overall U.S. exports in 2019.
Another factor is that US isn’t the only game in town. I expect that a lot of industry will move to Asia, and to China in particular. US simply can’t compete with China when it comes to industrial production capacity. China is also a huge market and the economy there is much more stable than in US.
Basically, trying to cannibalize your allies is incredibly short sighted, and it shows lack of vision in US leadership.
The US has never been known for having much long term thought, tbf.
very true