The American economy in the time of Corona … collapse or a passing stumbling block?


The writer and researcher Abdulaziz Al-Qenaei said that the American economic system has been based on capitalism since 1900, and it has existed on its own and is not affected by political rule, and America today controls 30% of the global wealth.

In statements to the episode (11/8/2020) of the program “The Opposite Direction”, Al-Qenaei added that the American economy is able to heal itself for two reasons. The first is that it has a large number of young people and they are the driving energy of the economy, and the second is that the US government is able to develop plans that bypass big problems. This has happened previously.

He added that the US economy after the Corona pandemic suffers from a recession, but reports confirm that it will recover by next year, indicating that America will overcome the current crisis because it is based on institutions and not on people, and it cannot be limited to the personality of the current President Donald Trump or the personalities of his predecessors.

On the other hand, writer and analyst Mikhail Awad said that America is an aggressive country and rose at the expense of everyone, and after the fall of the Soviet Union it became the superpower, which enabled it to bully the rest of the countries and plunder their wealth.

Awad added that one of the results of what former President George Bush did was the economic crisis in 2008, and as a result of all the previous American adventures, America is now on the verge of collapse, and it was not able in the past to save its economy without restructuring, but the US economy did not rise in the past until after controlling many From the economies of Western European countries.

He added that the Corona pandemic caused a major collapse in the restaurant sector in America, and also led to the closure of many shale oil companies that America is proud of and that it has become an oil-exporting country, in addition to increasing the budget deficit, which prompted the US Central Bank to print 4 trillion dollars.

Awad emphasized that due to America’s current policies and its deteriorating economic situation, it will not reach the presidential elections scheduled for next November, and it may reach the point of fragmentation if it does not correct the current crisis and emerge with a comprehensive solution.


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