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4% of China's GDP is exports to the US. That's very far from being completely based on exports. China is a huge country with 1.4 billion consumers, so naturally exports is not a big part of its economy unlike much smaller countries.
China is quickly raising their poor up to the middle class by the 100's of millions.
China hurting perhaps the ONE business that the USA is many years ahead of the rest of the world in...
Thanks, Mr. Trump! Brilliant move!
"Elon Musk's electric vehicle company pointed out that China has put an import tariff of 40 percent on Tesla vehicles, compared to 15 percent for other vehicles imported to China.
"Tesla is now operating at a 55% to 60% cost disadvantage compared to the exact same car locally produced in China," the company said in its release."
China hurting perhaps the ONE business that the USA is many years ahead of the rest of the world in...
Thanks, Mr. Trump! Brilliant move!
"Elon Musk's electric vehicle company pointed out that China has put an import tariff of 40 percent on Tesla vehicles, compared to 15 percent for other vehicles imported to China.
"Tesla is now operating at a 55% to 60% cost disadvantage compared to the exact same car locally produced in China," the company said in its release."
But it will protect Tesla from cheap Chinese imports that would otherwise flood the American car market. That’s the whole point of a tariff. Since China doesn’t respect the idea of intellectual property, it might be a good idea to protect the company that actually pays for the research and development from Chinese competitors who would simply steal the technology and then sell the cars at a lower price.
I’m not sure that this is something to celebrate, at least from a USA perspective. There are only so many natural resources to go around.
Which ones will be our limitation?
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