by Alasdair MacLeod
Before the coronavirus caused governments to impose lockdowns, whole economies, markets and even currencies were already on course to be destroyed by a vicious downturn in bank lending at a time of contracting trade and record debt. The additional strains from the virus have intensified the crisis further and quickened the pace of all aspects of monetary destruction.
The coronavirus has permitted America and other Western nations to adopt a war footing by restricting personal freedom in the interest of the state. As tensions against China rise and the global economic crisis escalates, these freedoms will be not be returned, being deemed to be against national interest.
This is an election year for America and the political system is already ramping up blame for the virus and her economic misfortunes against China. We are entering dangerous territory when politics mobilises hate against a supposed enemy by using propaganda tactics which are designed to stir up xenophobic anger.