Welcome to a new world of trade and economics ::: Trump Trade Shambles ... ::: Going down the memory ... we find what the world said decades back -- "GATT fails, we all lose"

The threat to the global economy remains real. 

It is also true the two largest economies in the world – which between them have generated around half of global economic growth in the 21st century – are, in effect, no longer doing business with each other.  

Even Mr Trump admitted that Americans were “getting yippy”. They had every right to be, says 'The Guardian' in their edit.

So did the markets, along with the rest of the world. Trust disappeared long ago, replaced now by uncertainty. There is no way that this is over, insists the British newspaper.

Going down the memory ... we find what the world said decades back --  "GATT fails, we all lose" 

"The Uruguay Round of the General Agreement on Tariff an Trade negotiations which had been in progress for the last seve years, would come to an end on December 15, 1993.

According to the Director-General of GATT Mr. Peter Sutherland, "at stake is nothing less than the world trading system. If the negotiations fail, those same world leaders will be committing one of the biggest collective follies of the century". 

The article is from 'The Sunday Observer'. (1993)

Such newspaper clippings and many more rare items -- but wonderful to read appear in a book 'Collapse of Capitalism' written by a former colleague and a dear friend Lalitha Vaidyanathan. 

In the preface of the book, Dr Lalitha (who was more known as LV in Press Trust of India, PTI) ....

writes: 

"On October 9, 1992 i wrote a letter entitled "Calcium bomb that broke world economy" and made 15,000 copies and mailed them to all foreign embassies, consulates in India, all the Indian embassies abroad, all the foreign embassies in the U.S., all the ambassadors of U.N. and chiefs of various U.N. special bodies, 

Prime Minister, President of India and Chief Ministers and Governors of all the states in India and all the members of Indian Parliament (Rajya Sabha and Lok Sabha) and prominent personalities of various political parties, ..... 

I did this as I saw TRUTH in it which I wanted to share with my fellow human beings.

Therein I mentioned that the recession in the early part of the century made people use energy efficiently in the industries and readjusting and restructuring the economies which helped them to overcome the Great Depression." 

Among other articles and news items, the volume throws light on FAO making forecasts about fall in 'global cereals trade'. 

(20 July, 1993, 'Business Standard')