🌐 Trade War Fallout: Developing Nations Bear the Brunt
U.S. President Donald Trump’s sweeping tariffs are sparking fears of a global recession, with experts warning that developing economies will face the harshest consequences. 📉 "The heaviest burden will fall on the developing world," said economist Jayati Ghosh, highlighting canceled export orders and rising unemployment in countries like Bangladesh and the Bahamas.
📊 By the Numbers: $3.3 Billion at Stake
Bangladesh, the world’s second-largest apparel exporter, could lose $3.3 billion in annual U.S. exports by 2029 if Trump’s 37% tariffs remain, per International Trade Centre data. Meanwhile, the Bahamas, already grappling with inflation, called the tariffs 'very bad news' for families struggling with soaring costs. 🛑 The island imports nearly all physical goods, making it acutely vulnerable.
🤝 Global South Unites Against Trade Bullying
Chinese Ambassador to the Bahamas Yan Jiarong urged Global South nations to strengthen cooperation against trade pressure, emphasizing China’s role as an "anchor of stability" in global trade. "Deepen industrial coordination to safeguard our development rights," Yan wrote, highlighting China’s push for multilateral solutions. 💡
🌪️ A Manufactured Crisis?
Ghosh warned that Trump’s policies could fuel a "manufactured global recession," disproportionately impacting supply chains and jobs in poorer nations. With U.S. inflation still a hot-button issue, the ripple effects of this trade war could reshape economies worldwide. 🌏🔗
