Saturday, January 25, 2020

Geological Significance of Dolyhir and Nash Scar Limestone

Geological Significance of Dolyhir and Nash Scar Limestone The geological significance of the Dolyhir and Nash Scar limestone (Silurian) of the Welsh Borderland Introduction and History Ther regions of Old Radnor and Presteigne (Fig. 1), found on the outskirts of Hertfordshire and Powys, are home to two small inliers containing a mammoth unit of limestones of the early Silurian age, thick and distinctive in their form. In the Nash Inlier in the north-east, an eminent ridged is formed by the limestones which was once host to the quarry of Nash Scar, but is now abandoned. The Old Radnor Inlier in the south-west however, is still a part of a large network of working quarries at Dolyhir. It was in the first half of the nineteenth century that these limestones were first geologically described by Sir Roderick Murchison, who visited the area of Nash Scar as part of his investigations that led to his magnum opus, the Silurian System (Murchison 1893). Sir Murchison stratified these deposits to be Wenlockian and concluded them to be equivalent to Woolhope limestone (Murchison 1854), although he first labelled them as ‘identical in position and organic remains’ t o the newer limestones of Wenlock Edge ((Murchison 1839, p. 313). Davis (1850) in a short paper established the link between the limestone and the underlying deposits at Nash Scar and added a faunal investigation to the study of the area. These studies laid the groundwork, but unfortunately, the Silurian of the area received little attention for almost a century except for Calloway’s brief commentary on the ‘Woolhope Limestone’ of Old Randor during his investigative study on the underlying Precambrian. The credit of the most detailed description on the limestones and the Silurian geology in both areas still goes to Garwood and Goodyear (1919) with their geological map of the Old Radnor Inlier. Also, they presented a view of limestone opposite Murchison’s and claimed it to be equivalent to the limestone at Woolhope, though thermally metamorphosed. They authors were of the view that the limestone deposits were instead a representation of an algae reef. The region continues to be of interest and many works have been published based on the Silurian faunas in Nash and Dolyhir, the consequential biostratigraphic study of limestones themselves, and the overlying and underlying deposits to decipher the exact age age (Kirk 1951, Ziegler et al. 1968, Bassett 1974a, 1974b, Hurst 1975, Hurst et al. 1978, Aldridge et al. 1981), although no major study has been carried out following Garwood and Goodyear (1919). Woodcock (1988) addressed the impact of tectonic activity on the limestone in the Old Radnor Inlier and provided a map of the region. Moreover, other works on the topic include a brief revision of the description on the individual localities (Woodcock 1993, Siveter et al. 1989, Siveter 2000), and a detailed review of the local stratigraphy (Cocks et al. 1971, 1992). It was Bassett (1977) who coined a formal stratigraphic term for the Nash Scar Limestone Formation, Dolyhir and limestones. Global and Regional Palaeogeography Earlier during the Wenlock times, the region of Old Radnor Presteigne was buried in a mid-outer position below the warm and shallow continental sea on the eastern border of the Welsh Basin (Fig 2a). The Midland Platform, a topographic high, lies to the east. Although mostly submerged at this time, the platform probably covers much of present day Lincolnshire, Nottinghamshire and Yorkshire with a large low-lying island. On the south-west lay an even larger landmass, Pretannia, whose northern coastline falls in the present day region of South Wales. The north-eastern border falls in the region of the Mendip Hills, and was home to active volcanoes. The north-western part of the Welsh Basin connected with the Iapetus Ocean, the western side of the Welsh Basin was met by the Irsish Sea Landmass, another topographical high, while towards the north, it was open. This composition has remained unchanged for more than 100 million years. The present day England and Wales formed a part of the microcontinent of Eatsern Avalonia, had drifted away towards the north since Ordovician times as the Iapetus Ocean narrowed and closed REASON (see Pickering et al. 1988, Pickering Smith 1995). Towards the Wenlock times, a series of drastic changes began that over the course of a few million years altered the geography of the region beyond any resemblance to the initial structure. Firstly, the ocean was almost entirely replaced, Eastern Avalonia which had already collided with Baltica during the late Ordovician period (Cocks Fortey 1998), began colliding with Laurentia, the continent which had on the north-western side of the Ipateus, had divided the equator. Recorded as the Caledonian Orogeny in the British geological record, these movements welded together the Eastern Avalonia and Baltica to the border of Laurentia. In the following Wenlock period however, the Welsh Basin maintained its marine form as well as its connections w ith presumably the remnants of the Iapetus Ocean in the north and Rheic Ocean that had emerged in the south. It is agreed that the Welsh Basin possessed a tropical or subtropical position in the Southern Hemisphere during this time, however, there is contradiction over its exact latitude when the Nash Scar and Dolyhir reefs began forming (estimates vary from around 20 to 40 degrees south, see e.g. Scotese McKerrow 1990, Torsvik et al. 1990). Sedimentology and Fauna Currently, the outcrop of the Nash Scar Limestone formation can only be witnessed at the Nash Scar quarry and around Dolyhir where the workings are extensively active. Dolyhir consists of the ‘Dolyhir Quarry’ (Garwood Goodyear 1919) and ‘Strinds Quarry’ as well as their subsidiary quarries C and D and the huge area of Yat Wood and its subsidiary quarries E, F and G (Garwood Goodyear, 1919) in the north. The older southern region and Yat Wood area are now popular as the ‘Strinds Quarry’ and ‘Dolyhir Quarry’ respectively (Fig. 3b). The limestone formation of the Nash Scar and Dolyhir can be described as a pure carbonate formation with over 99% of CaCO3 according to Garwood Goodyear (1919), highly crystalline, with its colour ranging between bluish-grey and white. The limestone is poorly to massively bedded. The thickness is difficult to assess accurately as a result of extensive faulting but it is agreed that it has a minimum thickness of 24m and a thickness of up to 60m at Nash Scar (Bassett 1974a). In some places at the Dolyhir and Strind quarries, the basal part of the limestone consists of a basal rudite which is up to 2m thick The rudite contains apart from the rounded quartz pebbles, angular mudstone and standstone clasts. These casts are as big as 10 cm in diameter are derived from the local Precambrian basement, mixed with in-situ colonies of the tabulate coral Favosites. In spite of the difficulties that arise in collecting the fossils as a result of the crystalline formation and massiveness of the li mestone, an abundant and diverse fauna has been observed. Calcareous algae in the form of oncolites dominate the fauna (Johnson 1966). These have a diameter of up to 20cm and include Girvanella problematica, Girvanella pusilla, Rothpletzella gotlandica, and Solenopora gracilis. These porcellaneous algal structures appear in a striking contrast with the coarse and crystalline limestone. The faunal list of seventy species by Garwood and Goodyear (1919), also names bivalves, brachiopods, bryozoans, cephalopods, corals, crinoids, trilobites and gastropods as being present in the limestone formation. The brachiopods present (Bassett 1974a, 1974b, 1977) include Antirhynchonella linguifera, Megastrophia (Protomegastrophia) quetra, Leptaena oligistis, Streptis grayii, and species of Whitfieldella and Plectatrypa. The trilobites (Thomas 1981) include Cornuproetus peraticus, Dudleyaspis portlockii, Planiscutellum kitharos and Radnoria syrphetodes. The conodonts which are observed to be in abu ndance include Dapsilodus obliquicostatus, Ozarkodina sagitta rhenana, Decoriconus fragilis and Ozarkodina excavate. An acritarch assemblage also thrives in the limestone formation although in low diversity with Micrhystridium Veryhachium, and Diexallophasis(thin-walled forms) dominating the species. The formation’s lower part has within itself, a tectonized and hence discontinuous shale horizon. The shale is abundant in crinoid debris and consists of greenish carbonate concretions nucleated around crinoid stems and brachiopods (Garwood Goodyear 1919) which gives it its nodular form. The fauna here differs from the limestone somewhat in its detail. The species of Trilobites present in the lower part consist of Cyphoproetus depressus and species of Kosovopeltis and Scotoharpes, together with Tapinocalymene volsoriforma (Thomas 1978, Siveter 1980). In the north-east side of the Nash Scar Quarry, the hardground encrusted surface of the top of the limestone, with crinoids holdfasts is exposed. Geological Setting and Stratigraphy Fig. 4. summarizes the stratigraphy of the Nash Scar and Dolyhir Limestone Formation, and the deposits vertically adjacent to them. A combination of the fine clastic Yat Wood and the dominantly sandy Strinds Formation shapes the Precambrian basement in the Old Radnor Inlier, where the formation lies uncomformably. In the Precambrian Longmyndian rocks of the Church Stretton area (Calloway 1900, Woodcock 1988, Woodcock Pauley 1989), analogues of these lithologies can be found. However, at Nash Scar, the Folly Sandstone Formation (dated from late Aeronian to early Telychian), is overlaid by the limestone disconformably (Ziegler et al. 1968). Although the base of this sandstone cannot be seen, a 30m thickness is suggested by Cocks et al. (1992). Shales of the Coalbrookdale Formation overlay the reefal limestones of both localities (Siveter et al. 1989). Normally the contact is faulted or concealed but at Nash Scar it can be seen above the hardground. The graptolite faunas present at the site suggest basal shales lie within the C. lundgreni Biozone, of earliest Homerian age (Hurst et al. 1978). The outcrops of the Coalbrookdale Formation with a faulted contact with limestone also gives rise to the view that some of the shales may be of the Sheinwoodian age (Bassett 1974a, Kirk 1951, see also Siveter et al. 1989, fig. 5). Above the stratigraphic contact, the shales present are marked by an encrusted hardground at the top of the limestone which is perhaps derived from the crinoid debris present in the shales in abundance (Hurst et al. 1978). This also suggests that it is the original post-hardground sediment that has developed into lundgreni Biozone shales. It can therefore be concluded to some degree of effectiveness, that the Coalbrookdale Formation in the inliers has a diachronous base, and dating from the upper Sheinwoodian age. Contemporaneous The study of trilobites, brachiopods (Bassett 1974a) and conodonts (Aldridge Schà ¶nlaub 1989, Jeppsson et al. 1995) and the palaeontological dating of the limestones based on their study suggests that the limestones belong to the early Sheinwoodian age, occurring at the same time as Woolhope Limestone Formation, and spanning the centrifugus, murchisoni and riccartonensis graptolite biozones (Fig. 4). It has also been suggested by Hurst et al. (1978) that at Nash Scar, the hardground found at the top of the limestone might be representative of the rigidus to ellesae biozones of the upper Sheinwoodian. According to Kirk (1951), at either or both localities the base of the limestone might extend below the Wenlock however, this supposition is not based on any palaeontological evidence (although see Bassett 1974a, p. 759). In the uppermost Llandovery, any evidence for a depositional gap is supplied by the weak angular unconformity with the underlying Folly Sandstone Formation found at the Nash Inleir (Ziegler et al. 1968). It can thus be concluded that the limestone may have been deposited 428 to 426 million years earlier (Fig. 4). Described by both Davis (1850) and Garwood and Goodyear (1919), the limestone facies and their lateral extent is uncertain and is hampered greatly by outcrops at ‘the Sandbanks’, the region between Presteigne and Nash Scar. Within the shales, a band of non-reefal and stratified limestone, as thin as 2-3m, was exposed only ‘a mile †¦ from the typical reef-development at Nash Scar’ (Garwood Goodyear 1919, p. 21). The Welsh Borderland Fault System is straddled at its easternmost element, the Church Stretton Fault Zone, by the Nash inlier and the Old Radnor inlier. The early Palaeozoic is marked by a transition between the high midland Platform and low Welsh Basin regions by this system which has a long geographical history (see Woodcock Gibbons 1988, Woodcock 1988). The process of folding and faulting has tectonically disturbed the limestone formations at Nash Scar and Dolyhir as a result of the closeness of this major line of structural weakness. Towards the north and north-east, major faults dissect the Old Radnor Inlier, while towards the west-north-west, it dips steeply and is marked by many minor faults. A sinistral strike-slip movement marked the structures in post-Wenlock times. The action is most seemingly related to the late Early to early Mid-Devonian Acadian event (Woodcock 1988), the most indispensable phase in the buildup of the Avalonia with the Laurentian continent during the C aledonian Orogeny.

Friday, January 17, 2020

Goals of Competiton Law Essay

According to Barry Rodger and Angus Macculoch,competition law concerns intervention in the market place, when there is some problem with the competitive process or when there is market failure. This includes public authority intervention and is based on different concerns of the principal legal systems. They go on to state that monopolies, cartels and mergers are the three principal issues of interest for most competition law systems, the major concern with cartels and mergers being that, eventually they will achieve a monopoly position, dominate the market and exploit their position. Generally, the fundamental purpose of competition law is to ensure that markets for producing and selling products are effectively contestable.Competition law therefore exists to regulate the conduct of businesses, by preventing them from entering into anticompetitive agreements and abusing a dominant position, to ensure open and fair competition for both consumers and businesses. Nations adopt competition laws for various reasons hence it is important to state expressly if possible, in the legislation the goal that it seeks to achieve for easier implementation. Various goals have been put across to justify the existence of competition law which are discussed in the ensuing discussion at length. DISCUSSION: The consumer interest and protection from anticompetitive behaviours by cartels and firms with market power, has been stressed as the primary goal of competition law. In any economy there are competing interests between industry and consumers hence the former wish to amass wealth at the expense of the latter. It is therefore necessary for competition law to protect the ignorant consumer from the gluttony competitive tendencies of firms. Under the UK Enterprise Act 2002, section 11, the importance of the consumer is seen where super complaints are made to the Office of Fair Trading (OFT) by designated consumer bodies. Also, the OFT fined Manchester United, and other football clubs for their role in harming the consumer by resale price maintenance, of replica football strips. Another goal is to ensure preservation of liberty and prevention of the concentration of economic power. R. Whishcharacterized this as â€Å"the promotion of economic equity rather than economic efficiency†. It is a political ideal that relates to the pure competition objective, that economic power should be fairly distributed and is based on the idea that economic corporations should not become more influential than elected democratic governments.Jones and Suffrin therefore argue that competition law may serve the purpose of upholding the foundation of liberal democracy, by precluding the creation of excessive private power and that it decentralizes and disperses private power and protects individual freedoms, in a competitive market structure, where individual sellers and buyers are insignificant in relation to the si ze of the market. Competition law also aims at protecting competitors and ensuring fair competition. The argument behind this goal is based on the premise that, competition law should be applied to foster the ability of smaller companies to compete more directly with established larger companies. R.Whish argues that the competiton authorities should, ‘hold the ring and ensure that the â€Å"small guy† is given a fair chance to succeed’. That competition law should be concerned with both competitors and the process of competition. This is also known as the â€Å"populist goal† and has been heavily criticized by the Chicago school of antitrust analysis, who argue that antitrust intervention to protect competitors from their more efficient rivals is harmful to consumer welfare, since small inefficient firms may take wealth from consumers. I subscribe to the view that where a smaller firm is equally or more efficient than a rival but because of its financial resources it cannot survive a price war, competition law should protect it. Creation of unified markets and prevention of artificial barriers to trade is another goal of competition law. This is also called market integration, which led to the birth of the European Union (EU). Its overall aim was to integrate the member states, to create more united Europe, with a common; market, economic and monetary union, to achieve sustainable economic growth and economic development, to compete favourably in the world market. Indeed this resulted into the eventual birth of the Treaty on the Functioning of the European Union which regulates a total of 27 European country markets and protects the regional economy of the EU. Competition law may also service social, economical or industrial, environmental and regional goals. For instance, before approval of a merger competition au thorities may look at other issues outside competition like job creation or job losses. Such goals should however be accommodated in other governmental arrangements to allow for meaningful competition. On analyzing the above goals, it can be concluded that there is need for competition law in a poor country like Kenya or Tanzania, to attain economic development. G.R Bhatiai stresses that the absence of fair competition eludes stakeholders the benefits of competition, persuading countries to either enact competition law or to modernize their existing legislation and to revamp Competition Authorities. In the discussion below I majorly focus on Tanzania as per the question, considering her past socio-economic stages, the most fundamental being, the Arusha Declaration 1967 which led to nationalization of all major means of production, then liberalization of the economy in the mid 80s, leading to a dominant role of the private sector in commerce, though ‘state owned monopolies in the provision of social services, education and health still do exist. According to Louise du Pleiss et al, the challenges faced by developing countries Like Tanzania justify the need for competition law. That the general challenge faced by developing countries is high barriers to entry, yet for effective participation by any producer in the market, degree of accessibility to the market is important. These take the form of unrestrained business legalities such as licensing procedures, high taxes that limit imports of raw materials and a high degree of state intervention in the form of state owned enter prises. Her market like any other developing country is also generally smaller compared to their developed counterparts, making a limited number of firms to realize equitable distribution of resources and economies of scale. High production costs also act as a barrier to entry. Electricity for example costs US$ 1.11kwh, in Tanzania. In Uganda the same unit costs US$ 0.075 and KenyaUS$0.035, making it easier for investors to access the latter markets. However, competition law can serve to improve, infrastructure for instance, which if underdeveloped limits competitiveness in the domestic market by barring entry. In Tanzania export Gross Domestic Product (GDP) declined the period between 1995-1999 and so did the import GDP, one of the causes being closure in manufacturing firms due to rising costs of production, hence making the market small ,with few or no substitutable goods. Also, the structure of the economy of Tanzania is such that a bulk of the wealth is held by a disproportionate minori ty of its population. Competition law serves as a solution by which these inequalities can be addressed.Major industries according to Louise du Pleiss such as water, electricity, transportation tend to be dominated by the ‘state owned monopolies’ who in turn abuse their positions by charging excessive prices and tying goods and services. In Tanzania the Tanzania Electric Supply Company (TANESCO), monopolises distribution of electricity and takes advantage of this to charge high prices. It is argued that such monopolies discourage innovation, but through the promulgation and enforcement of a well-designed competition law, attainment of equality is possible since provisions to curb abuses by dominant firms will have a positive impact on the proper functioning of markets and equitable distribution of wealth. For instance, Section 59 (2) of the The Botswana Competition Act, 2009 permits the Competition Authority to assess whether a proposed merger may interalia, enhance competitiveness of a citizen owned small and medium size enterprise, to encourage fair competition in the market. Competition law however, serves as a tool in the alleviation of poverty, through the regulation of firms by ensuring that they do not charge high prices, which directly affects the consumer. It has been stated that due to Cartel conduct, countries such as Tanzania, Chile and Malawi have suffered a rise in food prices hence more than 100 million people have been pushed to deeper poverty. However in South Africa, two pharmaceutical giants accused of engaging in excessive pricing of branded antiretroviral had to engage in a settlement agreement hence medication fell between 58% and 88% in South Africa. It has been argued however that due to interalia lack of resources, skill and capacity to implement competition law, other concerns like poverty, illiteracy, and health should be attended to. The severe shortage of trained professionals to assess the complex competition law concepts also questions the need for competition law in poor country like Tanzania.Also competition law perse cannot achieve the goals stated above for it to be beneficial to Tanzania. Furthermore, the Fair Competition Act needs to be amended, to deal with the challenges discussed above to instill confidence in investors in the market and to protect consumers. CONCLUSION: Though arguments for and against the need for competition law have been advanced, it remains relevant to a greater extent and it must go hand in hand with the goals it aims to achieve. The question however which must be addressed is, whether competition law based on US or European models is relevant for an immature market like Tanzania’s which, like any other African country has virtually no culture of consumer advocacy and its small market can only accommodate a few suppliers. The answer should be in the negative but in this era of globalization, neocolonialism is evident which has made it a challenge to effectively implement competition law.

Thursday, January 9, 2020

The Event That Changed My Life Essay - 537 Words

Describe an event from your past and how it shaped you as a person. nbsp; Im a victim, I thought. The books were closed. The papers were signed. It was official. The next school year, I would enter the fifth grade -- again. nbsp; I knew I was gifted and capable of more, but after we moved from urban Oklahoma City to Tulsa before the fourth grade, my intelligence was meaningless. Suburban-school luxuries like computers, advanced math, and special ways to learn English flooded my brain. Homework was an afterthought. nbsp; Homework was not an afterthought to my fifth grade teacher, however. With her annoying, dogged persistency, Mrs. Thomas gave me zero slips whenever I forgot an assignment. She was on a†¦show more content†¦Tears welled up in my eyes but anger manifest itself instead. Its not fair. My grades may be bad, I grumbled angrily, but Im NOT stupid. nbsp; Yet stupidly, I refused to ask for help. nbsp; Stupidly, I let the entire year pass me by. nbsp; The end of school came eventually, and I abandoned dreams of the sixth grade. Luckily, I was transferring to another elementary school, but this offered me little consolation. Only dummies have to repeat a grade. nbsp; The final bell rang, and students erupted in a joyful chorus of cheers as summer break began. I sang a melancholy dirge of self-pity. My bitterness increased as I waited for my mother to pick me up. She came at last and I jumped up, anxious to leave forever. Again, Mrs. Thomas thwarted my plans; she came outside to talk to my mother, undoubtedly about my ignominious fate. As they murmured, I viewed the co-conspirators with hostile eyes. Im a victim, the final sigh of my fifth grade year whispered wearily. nbsp; Before I could escape, she had to heighten my torture with a few words of wisdom and the obligatory good-bye. I ignored her words as she stood before me. Her words had not averted this horrible moment. I prayed that she was done, but soon she had her arms around me. Not strangling my incorrigible neck, but hugging my ten-year old shoulders. nbsp; I remember few details of this hug. First,Show MoreRelatedEvent Changed My Life1514 Words   |  7 PagesI want to share with you five things that I implemented into my life that created amazing, compounding change, and completely shifted the direction and energy of my life. I came to them through reading, talking with others, and taking an honest look at my circumstances and the chain of events that led me to be where I was. I was discouraged by the drudgery, loneliness, and lack of direction I found embedded in my day to day experience. 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Wednesday, January 1, 2020

Trumps Tariffs and Trade War - Free Essay Example

Sample details Pages: 2 Words: 714 Downloads: 1 Date added: 2019/04/08 Category Politics Essay Level High school Tags: Donald Trump Essay Did you like this example? My team will be reporting on the trade war between Trump and China with the impact of tariffs and the new beginning of a cold war. I will be covering the impact of the tariffs and how they will greatly impact Chinas economy, people and its power in the market world negatively because the United States is their biggest profit and trade partner. Indeed it is is known that China is our biggest friend when it comes to imports and exports, but with the new tariffs at stake, a new Cold War has just been stirred and will be going on for years to come.. Don’t waste time! Our writers will create an original "Trumps Tariffs and Trade War" essay for you Create order In retaliation to Chinas sixty billion dollars worth of tariffs on the United States, President Trump set two-hundred billion dollars of tariffs on Chinese goods. Not only are the tariffs in place but they also deal a great threat to China. China has relied almost solely on infrastructure investments to push forth with their economic growth over the years. With the tariffs in place, the government cant resort to public spending because the astonishing debt the country faces. Facing two hundred fifty trillion dollars in debt the country has to face another giant hit with Trump at the helm enforcing the tariffs on the country, the stock market in China has dropped twenty percent since January. Chinas currency just had its two weakest months in history June and July along with the Chinese stocks in global value dropped thirty percent. The trade war still in full force and Chinas fragile aging economy, the United States exports and imports would be an effortless way out of the debt that China has created. The impact of the tariffs will greatly impact Chinas economy, people and its power in the market world as the United States is their biggest profit and trade partner. When recession is brought into China, the fragile economy falls apart with civil unrest and strikes. The last person to say the economy is stable before the new governor of the peoples bank in China was, Herbert Hoover during the Great Depression. Chinas leaders and governmental officials can hide all that is going on to the public, basically stating the president can meet with Trump to end the trade war and go back to China without anyone knowing. Rising prices on the exports and imports are the most concerning parts for companies and Chinas economy. The impact of the tariffs are leading to a combined loss of profits along with companies and employers having to cut some of their staff in order to stay profitable. With cuts in employees is equaling out to less production and but less money for running costs. Although, some of the employers have already laid of some employees, that number is sure to rise with the new round of tariffs that were put into place by Trump. Some companies that are based out of China whether or not the companies originated from the United States or not, they are planning on relocating, but not in China. They are looking for new places to relocate their companies now due to the increase in taxes on the imports that was put on China by the United States. The impact of the tariffs on Chinas economy has dropped the stock prices dramatically over the past year. With the rising debt numbers, China will have to produce more product and supplies to help them slowly dig their way out of the hole they were put into. The increase of tariffs will affect Chinas growth with the range of -3.4% to -2%. Instead of increasing the GDP the rate will actually go down by -.5% or -.3%. All levels of the Chinese economy will be affected negatively by the tariffs. The companies may be be financial and some may not be, but are still losing export growth from a range of -8.3% to -.4%. Chinas economy is being affected by these tariffs because the biggest most profitable companies as well as the smallest companies are losing growth and GDP due to the tariffs that have been put in place by our President Donald Trump. Chinas fragile economy is about to break under the tariffs we have put on it and will see a Great Depression like did back in 1929.