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Another clearly misleading thread title. I don't know why conservatives do that, but they always do. They are threatening tariffs. Trump is destroying everything. I fear the mess this guy is creating will be irreparable. Hubris will be the downfall of us.
How do you figure, have you not seen what we have gone through in the past 8 years, how many jobs were lost? How many were unemployed?
Were you the parent that told you kid to always give your lunch money to the bully?
The only people that should hate Trump are those that are about to loose their trading advantage over America.
How do you figure, have you not seen what we have gone through in the past 8 years, how many jobs were lost? How many were unemployed?
Were you the parent that told you kid to always give your lunch money to the bully?
The only people that should hate Trump are those that are about to loose their trading advantage over America.
US suffers almost US$400 billion trade deficit with China year after year. Can this go on forever?
Of course NOT. In fact, such worsening trade deficit has been going on right after China's accession into WTO. No matter who was the POTUS, be he Republican or Democrat, he turned a blind eye to such irregularities.
What was the original deal when China agreed to join WTO in 2000? It had agreed to lift many quotas as well as open many markets to let foreign companies come in to compete.
Take an example that I always cited. In 2000, China agreed to expand its import of foreign films to 50 in 3 years' time. So how many foreign films did China import last year? 34 despite the fact that Hollywood movies like Avengers Alliance are immensely popular in China.
So actually we should ask China to play fair. Honor what you have promised.
Tariff is not an ideal way to win the trade war. But US has exhausted its options and patience after so many years of lopsided trade deficit. This is the last resort.
And unlike what so many posters wrote, almost all of China's exports to US are substitutable. US economy may experience high inflation for a couple years (which IMO is good since interest rate can be restored to a normal level), but all those goods like shoes, apparel, bikes,.......etc can be produced in Vietnam, Mexico, India,....etc with similar low cost over time.
On the other hand, some of US exports to China are irreplaceable. For example, Chips. Recently Trump administration penalized China's high tech giant ZTE by ordering Intel to stop shipment. Right away ZTE, which employed hundreds of thousands workers in China, paralyzed.
And when some posters claim that Chinese people will not yield in this trade war, how will they win?
This is a war without real fighting. So maybe they can win by:
-- Stop buying iphone. Very unlikely.
-- Stop sending their kids to US to study. Very unlikely. Not even Xi Jinping would.
-- Stop touring US. Likely but doesn't hurt US economy much.
-- The wealthy stops buying their 2nd, 3rd , 4th home in US. Not likely. But they will do it in a more clandestine way.
-- Stop buying Enfamil and Similac. The New Zealand dairy farmers would love it.
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