With the United States now using an ‘America First’ approach, it’s relations with countries around the world has reached an all time low. Relations with China in particular have become strained over the past year. As countries, differences should be expected, but China and the United States are the polar opposites of each other in many ways.
America is the country which embodies capitalism while China is the epitome of communism. Ideological differences aside, the leaders of both countries have exacerbated tensions by taking actions the other have strongly disagreed with. Donald Trump, who is not known for being subtle, has made no secret that he believes China is to blame for the spread of coronavirus, declaring ‘China lied, people died!
Trump also decided to nickname coronavirus the China Virus, stirring up racial tensions within the countries. China has introduced a controversial security law in Hong Kong, which limits free speech and gives the government unheralded power over the people who live there. China has also been accused of using controversial ‘reeducation camps’ which house over one million inmates!
Unfortunately, a trade war has broken out between the two countries. While the relationship between the two countries has never been ideal, it has never been as fierce and bitter as it is right now. Trump introduced tariffs on all imported Chinese goods that was worth an estimated 50 billion dollars. It specifically targeted steel and electronic goods.
It was introduced due to China allegedly stealing United States technology. In late 2019, the United States manufacturing sector fell into its worst slump on record as a direct result of the trade war. A phase one agreement was made by the two countries in early 2020, as China’s economic growth rate fell to a thirty year low. However since the increase in coronavirus cases and the upcoming Presidential election, tensions have once again increased.
You may be wondering what this has to do with gambling at Spin Rider Casino, the United States and China both have the two largest gambling hotspots on the planet, Las Vegas and Macau. As gambling is illegal in China, people would have to travel to Macau or another destination to gamble, with Las Vegas being a popular choice. Since the trade war began, revenue in both Las Vegas and Macau has fallen. Chinese nationals have been discouraged from visiting the United States by the government. With Las Vegas baccarat tables being popular amongst Chinese tourists, they experienced a loss of over 50% of its revenue! China’s gambling industry may also be affected by the trade war, with US branded casinos making up to 60% of Macau. There is a possibility they could lose the licenses with the current intellectual property disputes in the trade war.
China and the United States are both world superpowers, while both countries are both opposites they also rely on having a strong gambling industry. The trade war has impacted gambling revenue and it will continue to do so for as long as the trade war continues.