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US Tax Cuts and Global Economic Dynamics
This chapter analyzes the projected financial impact of tax cuts in the US, estimating a $20 trillion revenue loss over the next decade and emphasizing the looming national debt crisis. The discussion covers the economic implications for both the US and global trade relations, especially with China, amidst rising inflation and government spending cuts. The chapter also examines recent trends in Europe, highlighting varied economic performances and the challenges faced by member states, particularly Germany and France.
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