The saying goes that opposites attract, this may be the case in many relationships but when it comes to America and China, this is not the case. Despite this, they do need to coexist with each other and this is mainly for business purposes – visit megareel.com for online slots.
The problem is that China and America are on the polar opposites of the political spectrum to each other. One is the epitome of Capitalism whilst the other of Communism and the relationship between these two superpowers are rocky at best.
However, the two countries still do business with each other despite their differences. This is because both of their economies have plenty to gain from trading with each other. Bill Clinton knew this to be true and in 2000 he pushed Congress to approve the U.S China trade agreement.
Since Donald Trump got elected as the President of the United States, relations between the two have nosedived. Strangely, America’s relationship with archenemies North Korea is rosier than ever, even though this may be superficial at best, it’s still an unexpected development.
Trade War Worries
You may have read about the trade war recently and this has a lengthy history like the ups and downs of US/ China relations through time. In February 2012 the U.S trade deficit with China was at an all-time high of $295.5 billion.
By 2018 Donald Trump was beginning to make his mark by announcing tariffs on Chinese imports worth at least $50 billion, in direct response to alleged Chinese theft of U.S technology and intellectual property. The tariffs targeted steel, aluminum imports, clothing, shoes and electronics. In July 2018 Donald Trump imposed fresh tariffs totaling $34 billion and by May 2019, the trade war intensified further with tic for tac tariff rises.
Effects Of The Trade War On Gambling
The souring of relations has already had an effect on the US gambling industry with fewer Chinese tourists visiting popular gambling destinations in America, such as Las Vegas. Since the Chinese are keen gamblers, this has affected revenue.
Usually, if the Chinese want to gamble they have to visit other countries or Macau that is similar to Hong Kong and is the only place in China where casinos are legal. In fact, American casino brands are allowed to operate in this gambling capital of the world. Chinese officials could target the licenses of these U.S casinos in the continuing trade wars and this will mean more revenue loss for the American economy.
Despite the communist government outlawing gambling in China, there is still plenty of illegal gambling online and in unlicensed casinos. Further crackdowns on gambling could wipe out a huge market for online slots in Asia, from western providers.
The effect on gambling seems to be more negative for Americans as fewer Chinese tourists feel welcome in the U.S. If the Chinese government starts a war on illegal online gambling, then online slots will suffer when this huge market is lost.