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+1. Trump is on the verge of setting off an economic disaster in the U.S. -- and that shouldn't be a surprise, look how many of his businesses ended in failure. Trump Univ., Trump Airlines, Trump Steaks, Trump casinos in Atlantic City, etc., etc.
The rubes in the Rust Belt who bought Trump's snake oil are going to be so disappointed when those promised new factory jobs never show up...
It was never about jobs for those folks. All along their only agenda was stickin it to the liberal, progressive democratic system. As long as they can do everything in their power to destroy every social safety net, every social justice initiative, every clean air and water act put in place by democrats since the Kennedy era, they are happy and will gladly elect Trump president, for life.
China is a developing-State and in particular they are developing their 2nd Level Economy.
Such growth rates are normal under the circumstances.
As China's 2nd Level Economy becomes more advanced, its GDP growth rate will eventually drop to 4%-5% per year.
Apparently, I didn't explain it well enough.
China's economy has been growing by leaps and bounds. They've got some money to spend. Hell, they even have money to loan. U.S. owes China over a trillion. Even Trump owes money to the Bank of China. "Trump is in a real estate partnership that borrowed $950 million from a group of banks including a subsidiary of Deutsche Bank and the state-owned Bank of China." Trump Has a Huge Foreign Bank Problem | Mother Jones
China is also facing a declining work-age population. Vietnamese are working in China now.
Mexico has a population that wants to work so much that they will risk everything to come to the U.S. and work dreadful jobs for low pay.
Chinese leaders want to be a world power. Mexico borders the U.S.
Partnering with Mexico makes perfect economic and strategic sense for China.
Nonsense and you know it. Ask Americans who live in border states what it's really like. I think you know the answer. Nothing you say changes the truth. I've lived in CA for 50 years and I've seen many cities turn from middle class to third world hell holes filled with illegals.
Where are these third world hell holes you've lived in?
Location: New Albany, Indiana (Greater Louisville)
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It does stink when the US looses a factory to Mexico but at least we get some benefits: fewer people trying to enter from the Southern border and a more affluent / stable Mexico. There is no benefit when a factory moves to China. Mexico also looses jobs to China. Maybe time for a NAFTA vs China trade war?
Slapping a massive border tax/tax on American consumers is a very unreasonable. Especially bad since people seems to have this idea that America is the only true market that counts and believe trade wars are good for the American people. Its terrible. Less than 2% of China's economic output is exports to America. Asia is China's biggest market. And China's domestic market is gigantic. People have this idea that China will collapse in a trade war and Trump supporters will man the factories in rural America again. It doesnt work that way. What will happen is that US automakers will be shut out of the biggest and most important car market in the world by far. Who suffers then? The midwest.
This right here is the point that people are missing.
U.S. automakers could staff up every single factory in the Midwest, but if the cars and trucks don't sell, what then?
Is the U.S. government going to subsidize sales in the name of protectionism?
These SUVs will replace/reduce the demand for US SUVs in Latin American market, which is quite large (larger than US market). Its nice we build cars in US, but if the policies kill the demand, then the industry will die too.
US auto makers have been breaking a record after record with exports, but this will change with trade wars.
You said all countries slap tariffs on products as they please. Thats nonsense and a myth. China also gave American companies in China advantages over Chinese companies, like tax advantages. But according to WTO it couldnt do that and had to stop it.
You seem to forget we're not just having a conversation in a bar where you can make up stuff that "You said blah blah..."
here's what I said, and its all memorialized in the posts above. Go back and look if you want to be honest:
"I don't trust their planning either. But since you mention China, China has for years imposed tariffs on all sorts of different products, as have European countries. This is business as normal, the only thing that changes from year to year is the extent of the tariff and on which particular products. If it gets exciting it becomes a "trade war." Still - its being going on for decades"
So you made up some straw man and said that straw man was a myth. What I said, in contrast, is actual fact. The tariffs and product selective VAT rates already exist in China.
Well, looks like the only foreign cars we will be driving in the future are Lada Logo, and Volga.
We won't be driving any. They'll be driving us. Once perfected self-driving cars take off, trying to insure yourself as a manual driver of the car will be cost prohibitive for most people. Insurance coverage is going to change a lot.
"Exacerbated by trumps Actions"? Do you really believe a deal like this was hatched overnight. Get a clue.
do you really not get that there will be consequences to Trumps stupid bluster...All these Trumpsters who keeps saying how Mexico will back down because it has no where else to go don't seem to get China is poised to fill all the holes Trump's policies will create....Our chief economic and military rival with a sphere of influence on our Souther border...do you not get that? Maybe get a clue yourself....TPP was this exact premise in reverse - get the US more trade and influence in Asia, but you dodo's hated it....
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