Trying to understand the trade war (economic, education, vs, states)
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"The diplomatic cable from Beijing arrived in Washington late on Friday night, with systematic edits to a nearly 150-page draft trade agreement that would blow up months of negotiations between the world’s two largest economies, according to three U.S. government sources and three private sector sources briefed on the talks.
The document was riddled with reversals by China that undermined core U.S. demands, the sources told Reuters.
In each of the seven chapters of the draft trade deal, China had deleted its commitments to change laws to resolve core complaints that caused the United States to launch a trade war: Theft of U.S. intellectual property and trade secrets; forced technology transfers; competition policy; access to financial services; and currency manipulation."
China rose by copying the US, instead of listening what they preach. The US became a world power by copying Britain and surpassed it. Britain was never able to control all the oceans, the US do.
A country that has more technology and manufacturing capability has a huge advantage over others. This is why the US and Europe pushes free trade over poor countries: to rip them off as they have no chance of competing. In the case of China it is different. Since China has grown and can built technological goods at a cheaper price, rich countries impose huge tariffs to protect their industries. I am talking about expensive goods like Huawei, the cheap junk is no problem.
That is the double standard of trade. China will be destroyed for trying to surpass the US in tech and manufacturing. I bet before 2030, China will be destroyed just like Japan and Germany. They are going to learn the hard way only English speaking nations can be on top. Everyone else is to be a subordinate or raw producing colonies like so many nations around the world today.
The problem is that people can't see the American empire like they see the British empire. I mentioned in another thread how the Roman Empire was founded in Rome but for most of its history its capital was Constantinople, modern day Turkey, from the year 330 to its fall in 1453.
China will not be destroyed. Unlike Germany or Japan, China is a huge country, a world of its own if necessary, with ancient history. And with the silk road project, they are bonding with other countries, many of them developing countries, countries with big, growing populations and resources. Germany alone doesn't have the critical mass (as part of the EU with its 500m people it is a different story), China does. China is very different from Germany.
"The diplomatic cable from Beijing arrived in Washington late on Friday night, with systematic edits to a nearly 150-page draft trade agreement that would blow up months of negotiations between the world’s two largest economies, according to three U.S. government sources and three private sector sources briefed on the talks.
The document was riddled with reversals by China that undermined core U.S. demands, the sources told Reuters.
In each of the seven chapters of the draft trade deal, China had deleted its commitments to change laws to resolve core complaints that caused the United States to launch a trade war: Theft of U.S. intellectual property and trade secrets; forced technology transfers; competition policy; access to financial services; and currency manipulation."
Don't know the details of those complaints, but the Fed also manipulates the Dollar. And the EU central bank manipulates the Euro. Usually they all try to keep their currencies down so as to boost exports.
"The diplomatic cable from Beijing arrived in Washington late on Friday night, with systematic edits to a nearly 150-page draft trade agreement that would blow up months of negotiations between the world’s two largest economies, according to three U.S. government sources and three private sector sources briefed on the talks.
The document was riddled with reversals by China that undermined core U.S. demands, the sources told Reuters.
In each of the seven chapters of the draft trade deal, China had deleted its commitments to change laws to resolve core complaints that caused the United States to launch a trade war: Theft of U.S. intellectual property and trade secrets; forced technology transfers; competition policy; access to financial services; and currency manipulation."
Trump should terminate trade negotiations and implement a 100% trade embargo. No Chinese imports at any tariff price. Shut their factories down.
We have to run large trade deficits in order to maintain the dollar’s status as the world’s reserve currency. We would hate to lose all the advantages of having the worlds reserve currency. Trade deficits are a strongly positive thing for the USA.
We are not given goods for green pieces of paper. Those dollars come back to us in many ways and help keep the interest on our debt low. Which is quite important when you have a 20 trillion dollar debt.
See the post above this one for the rest of the story. No economist worth his salt supports tariffs. Nor do most businesses. Tariffs killed the long running bull market.
You are making the typical flawed assumption though that the tariffs are set in stone, forever to be left in place. That is what the left-leaning media outlets and politicians want you to believe because it focuses solely on the immediate problems with tariffs, while ignoring the long-term strategy behind implementing them, which is to improve trade policy so that the tariffs can be removed or readjusted.
These tariffs are not meant to be permanent. They are meant to create temporary discomfort so that hopefully both parties are motivated to rethink the current trade situation. They create a sense of urgency. That's the point.
You as are most Americans are impatient, which is why we get out-negotiated on the world stage. Our keen to instant, or at least quick-gratification puts us at disadvantage. American media and public is constantly focused on the 'hurts' of these sort of negotiations.
Asian, Middle-Eastern and to a lesser extent, European negotiators know if they delay, sooner than later U.S. politicians will cave due to being soft and punished by an even softer American public. Of course Asian and Middle Eastern have a much firmer grip on their media outlets, channels of communication in general, so can contain the 'message'.
It is our strength, yet paradoxically, also our greatest weakness that we are so open. The openess, along with a generally fat, spoiled society and impatient society is used against us.
So much truth in this post it's amazing. Yet it was completely passed over in any part of this discussion so far.
It's so much more than our trade policy that needs to be revamped. It is our fat, spoiled, impatient society is where the REAL work needs to be done. We Americans trample all over the world and it's resources.
We live an upscale lifestyle compared to the rest of the worlds citizens. That lifestyle comes at the expense of most of the other planets people and their resources. We literally plunder the planet. Yet no one ever talks about that.
Ever compare our lifestyle to the rest of the world? Goods and services everywhere else are just not in unlimited and instant supply like they are here. We even get more demanding by insisting that it all be cheap too. Who cares if the guy making it gets $2 bucks a day. I don't want to pay $100 or $200 more for my washing machine. That's our attitude.
There would be a whole lot of us, with a lot less " cheap to buy stuff", if we had to make it here, to buy it here. It could also bring back some better paying jobs here too. However accepting a lesser lifestyle to bring us more in line with others on this planet is just NOT the American way. Reducing our over the top gotta have it all now, cheap, and in mass quantity lifestyle is way over due.
Not nearly as much in reverse, hence $400 Billion annual trade DEFICIT.
Yes, but the point is, Chinese factories would not shut down, contrary to what has been claimed.
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