The crash of Ethiopia Airlines' Boeing 737 Max plane resulted in a never before seen reaction in global aviation history. The same plane model falling previously in Indonesia, a total of 346 people dying in the two accidents, led to a kind of worldwide "Boeing alarm."
Turkey included, dozens of countries grounded the flights of these airliners, and closed off their airspace to the planes in question. Similar to China, Turkey, the U.K., Germany, Italy, Austria, France, Belgium, Malaysia, Indonesia, Singapore, India, Brazil, Argentina, Mexico, South Korea, South Africa, Ethiopia, and Kazakhstan, almost half of the world started an embargo against these airliners.
$500-billion order, much greater loss of reputation
It appears that these airliners are shortly going to be banned all over the world. Even if Boeing fixes and eliminates manufacturing faults, it will never again be able to repair its destroyed image in the aviation industry, which is based on sensitive trust. And in time, the lack of trust in these aircrafts is going to spread through to all of Boeing's aircrafts and products.
Boeing received 5,000 orders to date for its new generation BMax8 and BMax9 aircrafts, and delivered 350 of these. After the accident, 330 of these aircrafts were parked in the hangar. It is, of course, possible to predict that almost all of the orders will be cancelled.
The financial size of the order the company received is $500 billion. We need to think how the world's biggest aircrafts company will endure this heavy cost in the event all orders are cancelled. Beyond the $500 billion, it is impossible to even measure the financial value of the reputation the company will lose in the global markets.
This is a counter-economic war,
An attempt at retribution against the U.S.
Is the matter confined to a security issue only? Is the matter designed to damage Boeing only? How does this issue tie back to the global trade wars? Is the matter part of the world's economic war against the U.S.?
These questions are so important.
Personally, I believe that a reaction of this scale is not limited to the manufacturing flaws of the aircrafts in question alone. I believe the embargo that started with China, continued with Asian countries, then, joined by almost all European countries, and is continuing with Latin America, is not limited to Boeing only, that it is a revenge action against the U.S. economy.
It will have political, geopolitical ramifications
If it is indeed what I believe it to be, then, the world is headed toward an extraordinary showdown, not in the military field, but through commercial aircrafts. Every trade war carries political consequences. A global trade war gives rise to major geopolitical repercussions, and leads to tectonic power shifts.
This was the cause of the two great wars the world has witnessed. It was economic and produced geopolitical results, it turned into large-scale combats, and led to global tremors and power shifts. We can include the Cold War in this too.
US's economic blackmail and the countries impacted
We can see that the U.S. is waging a trade war, and economic blackmail against more than half the world, and if we consider that this is almost making allowances for military deterrence, we can see the next step.
There are those saying that its economic war against China and Europe (Germany), its economic attacks on dozens of countries including Turkey, will, sometime later, strike the U.S. itself.
I feel the same way. I believe the U.S. that globalized the economic war is going to face the heaviest consequences itself. Hence, this is the reason the reaction against Boeing aircrafts started with China, and the countries affected immediately followed.
The world is going to strike as soon as it finds a flaw in U.S. products
Of course the U.S. administration penalizing and pressuring European companies, getting into an "open trade war" with China, striking Asian markets, trying to make countries like Turkey surrender through economic blackmail, its launch of a sort of economic banditry period, was going to have consequences.
This conflict actually started with the 2008 economic crisis. The disputes in the global economy/finance system erupted with Western economies being dragged into the crisis. Ever since then, the world is already in an open trade war. However, in recent times, the U.S. started to carry this on in a quite reckless manner, and turned it into an intolerable bullishness.
The world is waiting for the U.S. to make a mistake. The moment it finds a tiny flaw, it retaliates. The same thing is in question in the Boeing incident. This is a global attempt to take revenge from the U.S., from U.S. companies, and it will only continue.
Why is the U.S.'s weapon being used against it?
The world wants to hit the U.S. through economy. It wants to slow it down and alleviate its aggressiveness. But we are going to see that this fight to tame it will fail to stop the U.S., and that the global trade war will spread in full force to other fields as well.
The issue is not limited to Boeing only. This is the hottest front of a much greater fight. The U.S.'s economic weapon is being used against it.