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Commentary: USA/Inflation
FILE: Washington D.C., USA - May 12, 2020 (CCTV - No access Chinese mainland)
1. Various of White House
Beijing, China - Oct 23, 2021 (CCTV - No access Chinese mainland)
2. Graphic showing number of tweets with hashtag "EmptyShelvesJoe"
3. Graphic showing locations of tweets with hashtag "EmptyShelvesJoe"
Los Angeles, California, USA - Oct 21, 2021 (CCTV - No access Chinese mainland)
4. Various of empty shelves in supermarket
Beijing, China - Oct 23, 2021 (CCTV - No access Chinese mainland)
5. Screenshot of tweet of White House chief of staff Ronald Alan Klain regarding most of U.S. economic problems as high class problems
FILE: Crystal City, Colorado, USA - 2019 (CGTN - No access Chinese mainland)
6. Various of employees working
FILE: Racine, Wisconsin State, USA - Dec 14-16, 2019 (CGTN - No access Chinese mainland)
7. Various of workers working at farming equipment manufacturing line
FILE: Shanghai, China - Date Unknown (CGTN - No access Chinese mainland)
8. Various of U.S. dollar banknotes going through cash counting machine
FILE: Arlington County, Virgina State, USA - June 2021 (CGTN - No access Chinese mainland)
9. Various of people receiving food from food bank
FILE: New York City, USA - Date Unknown (CCTV - No access Chinese mainland)
10. Various of workers packing goods at Amazon warehouse
Los Angeles, USA - Oct 20, 2021 (CCTV - No access Chinese mainland)
11. Various of port, containers, ships
FILE: Los Angeles, California, USA - Date Unknown (CCTV - No access Chinese mainland)
12. Various of port facilities; ship
Supply shortages have led to price increases and record inflation in the United States, yet U.S. politicians are calling it a "high class problem," noted a commentary published by Chinese media outlet Yuyuantantian on Friday.
Extracts from the commentary are as follows:
The hashtag #EmptyShelvesJoe started trending on social media platform Twitter on Oct. 13, according to the big data and artificial intelligence (AI) company Global Tone Communication Technology Co., Ltd.
On the same day, U.S. President Joe Biden announced that the Port of Los Angeles would operate 24 hours a day to solve the supply chain crisis, as store shelves across the nation were still empty with only two months until Christmas, a peak selling season for many retailers.
The lack of supplies is leading to price increases. As reported by the U.S. Bureau of Labor Statistics, the annual inflation rate in the U.S. has reached its highest level in 13 years.
However, top officials in the U.S. haven't shown any sympathy for the plight of Americans.
White House chief of staff Ronald Alan Klain tweeted that most of the economic problems the U.S. is facing now are "high class problems."
Klain instead focused on the unemployment rate, arguing that the decline in joblessness is evidence that the U.S. is emerging from the worst of the economic downtown brought about by the COVID-19 pandemic.
However, the protracted inflation misery facing businesses and consumers has acted as a headwind stronger than many have expected.
The transportation sector has suffered the largest impacts. Following an increase in transportation prices and a large number of workers quitting their jobs in the transportation sector, many ports in the U.S. are experiencing shipping logjams as goods are stranded in containers.
As a result, the inventories to sales ratio of retailers dropped to their lowest point, with no stock in the warehouses or goods on the shelves.
The Federal Reserve System (Fed) is also turning a blind eye to how inflation is contributing to the wealth gap in the U.S.
Since low-income people are suffering the most, it is no wonder that "high class" U.S. officials are deliberately ignoring the issue of inflation.
This "high class" fantasy reflects not only the superiority of the wealthy in the U.S., but also shows the illusion of the U.S. as the best country in the world.
The U.S. does have a card to play to solve the problem of high inflation. They can alleviate inflation by lifting the unreasonable tariffs imposed on Chinese goods exported to the U.S., thus providing affordable goods for ordinary U.S. families. However, it seems they are not prepared to do so.
After all, the U.S. does not want to give up its "high class" fantasy.
Commentary: USA/Inflation
Dateline : Oct 23, 2021/Recent/File
Location : China;United States
Duration : 2'13
FILE: Washington D.C., USA - May 12, 2020 (CCTV - No access Chinese mainland)
1. Various of White House
Beijing, China - Oct 23, 2021 (CCTV - No access Chinese mainland)
2. Graphic showing number of tweets with hashtag "EmptyShelvesJoe"
3. Graphic showing locations of tweets with hashtag "EmptyShelvesJoe"
Los Angeles, California, USA - Oct 21, 2021 (CCTV - No access Chinese mainland)
4. Various of empty shelves in supermarket
Beijing, China - Oct 23, 2021 (CCTV - No access Chinese mainland)
5. Screenshot of tweet of White House chief of staff Ronald Alan Klain regarding most of U.S. economic problems as high class problems
FILE: Crystal City, Colorado, USA - 2019 (CGTN - No access Chinese mainland)
6. Various of employees working
FILE: Racine, Wisconsin State, USA - Dec 14-16, 2019 (CGTN - No access Chinese mainland)
7. Various of workers working at farming equipment manufacturing line
FILE: Shanghai, China - Date Unknown (CGTN - No access Chinese mainland)
8. Various of U.S. dollar banknotes going through cash counting machine
FILE: Arlington County, Virgina State, USA - June 2021 (CGTN - No access Chinese mainland)
9. Various of people receiving food from food bank
FILE: New York City, USA - Date Unknown (CCTV - No access Chinese mainland)
10. Various of workers packing goods at Amazon warehouse
Los Angeles, USA - Oct 20, 2021 (CCTV - No access Chinese mainland)
11. Various of port, containers, ships
FILE: Los Angeles, California, USA - Date Unknown (CCTV - No access Chinese mainland)
12. Various of port facilities; ship
Supply shortages have led to price increases and record inflation in the United States, yet U.S. politicians are calling it a "high class problem," noted a commentary published by Chinese media outlet Yuyuantantian on Friday.
Extracts from the commentary are as follows:
The hashtag #EmptyShelvesJoe started trending on social media platform Twitter on Oct. 13, according to the big data and artificial intelligence (AI) company Global Tone Communication Technology Co., Ltd.
On the same day, U.S. President Joe Biden announced that the Port of Los Angeles would operate 24 hours a day to solve the supply chain crisis, as store shelves across the nation were still empty with only two months until Christmas, a peak selling season for many retailers.
The lack of supplies is leading to price increases. As reported by the U.S. Bureau of Labor Statistics, the annual inflation rate in the U.S. has reached its highest level in 13 years.
However, top officials in the U.S. haven't shown any sympathy for the plight of Americans.
White House chief of staff Ronald Alan Klain tweeted that most of the economic problems the U.S. is facing now are "high class problems."
Klain instead focused on the unemployment rate, arguing that the decline in joblessness is evidence that the U.S. is emerging from the worst of the economic downtown brought about by the COVID-19 pandemic.
However, the protracted inflation misery facing businesses and consumers has acted as a headwind stronger than many have expected.
The transportation sector has suffered the largest impacts. Following an increase in transportation prices and a large number of workers quitting their jobs in the transportation sector, many ports in the U.S. are experiencing shipping logjams as goods are stranded in containers.
As a result, the inventories to sales ratio of retailers dropped to their lowest point, with no stock in the warehouses or goods on the shelves.
The Federal Reserve System (Fed) is also turning a blind eye to how inflation is contributing to the wealth gap in the U.S.
Since low-income people are suffering the most, it is no wonder that "high class" U.S. officials are deliberately ignoring the issue of inflation.
This "high class" fantasy reflects not only the superiority of the wealthy in the U.S., but also shows the illusion of the U.S. as the best country in the world.
The U.S. does have a card to play to solve the problem of high inflation. They can alleviate inflation by lifting the unreasonable tariffs imposed on Chinese goods exported to the U.S., thus providing affordable goods for ordinary U.S. families. However, it seems they are not prepared to do so.
After all, the U.S. does not want to give up its "high class" fantasy.
ID : 8234845
Published : 2021-10-23 06:16
Last Modified : 2021-10-23 16:33:22
Source : China Media Group(CMG)-CCTV,China Media Group(CMG)-CGTN
Restrictions : No access Chinese mainland
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