Page 15 - THE SOUTH CHINA BUSINESS JOURNAL
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plemented by $600 per week from the federal U.S. Commerce Secretary Wilbur L. Ross Official Photo
government, in addition to the $1,200 one-time
payment to Americans in low- and middle-income inflated by excessive mortgages and other forms of
brackets, President Donald Trump has continued credit. Banks were already failing, and therefore
to ensure that Americans have every opportunity incapable of transmitting increased liquidity
to recover from the economic downturn. into the real economy. Consumer confidence was
Fundamentally different from what Americans incredibly low. By contrast, our biggest problem
experienced in 2009, when they were leaving the before the coronavirus pandemic was that under
labor market with no hope of reemployment, 77% the leadership of the president, there were more
of unemployed Americans now expect they will available jobs — 6.5 million to be exact — than there
be reemployed quickly, and consumer confidence were people to fill them.
continues to grow.
The malaise that led to a catastrophic 2009 had
Measures signed into law by the president have been accumulating for years, and it is not surprising
infused $4 trillion into the American economy, that it took a leader like Donald Trump to help
twice the amount post-2009. This money is going overcome it. The coronavirus, in contrast, is a one-
straight back into the economy and ultimately into time health crisis that caused a temporary collapse
the pocketbooks of everyday Americans, where it to the economy. Now that America is reopening,
belongs — marking a second fundamental difference it should not take long for us to see the economic
from what we experienced in 2009, where relief recovery unfold. Confidence is growing in both the
went to plug structural flaws in mismanaged state economy and our president.
capitols and Wall Street.
As the economy gets back to where it was, with
But we can’t gloss over a third, very critical difference record low unemployment for African Americans,
between the economic revitalization we’re soon Hispanics, women and the disabled, and with more
to see and the recession we experienced just over rapid increases in non-supervisory pay, Americans
10 years ago: the contrast of a strong American deserve to be hopeful and eager to get back to
economy versus the severe structural problems in their pre-pandemic routines. While we focus on
the economy of the late 2000s. Wages remained improving the economic growth of our nation, all
stagnant for middle-class America for more than a Americans from coast to coast will be able to enjoy
decade. Gross domestic product had been recklessly the economic benefits of which the United States of
America is capable.
SOUTH CHINA BUSINESS JOURNAL 12
government, in addition to the $1,200 one-time
payment to Americans in low- and middle-income inflated by excessive mortgages and other forms of
brackets, President Donald Trump has continued credit. Banks were already failing, and therefore
to ensure that Americans have every opportunity incapable of transmitting increased liquidity
to recover from the economic downturn. into the real economy. Consumer confidence was
Fundamentally different from what Americans incredibly low. By contrast, our biggest problem
experienced in 2009, when they were leaving the before the coronavirus pandemic was that under
labor market with no hope of reemployment, 77% the leadership of the president, there were more
of unemployed Americans now expect they will available jobs — 6.5 million to be exact — than there
be reemployed quickly, and consumer confidence were people to fill them.
continues to grow.
The malaise that led to a catastrophic 2009 had
Measures signed into law by the president have been accumulating for years, and it is not surprising
infused $4 trillion into the American economy, that it took a leader like Donald Trump to help
twice the amount post-2009. This money is going overcome it. The coronavirus, in contrast, is a one-
straight back into the economy and ultimately into time health crisis that caused a temporary collapse
the pocketbooks of everyday Americans, where it to the economy. Now that America is reopening,
belongs — marking a second fundamental difference it should not take long for us to see the economic
from what we experienced in 2009, where relief recovery unfold. Confidence is growing in both the
went to plug structural flaws in mismanaged state economy and our president.
capitols and Wall Street.
As the economy gets back to where it was, with
But we can’t gloss over a third, very critical difference record low unemployment for African Americans,
between the economic revitalization we’re soon Hispanics, women and the disabled, and with more
to see and the recession we experienced just over rapid increases in non-supervisory pay, Americans
10 years ago: the contrast of a strong American deserve to be hopeful and eager to get back to
economy versus the severe structural problems in their pre-pandemic routines. While we focus on
the economy of the late 2000s. Wages remained improving the economic growth of our nation, all
stagnant for middle-class America for more than a Americans from coast to coast will be able to enjoy
decade. Gross domestic product had been recklessly the economic benefits of which the United States of
America is capable.
SOUTH CHINA BUSINESS JOURNAL 12
