Paradigm shift in making. History books will refer to this point in time when China came on par or eclipsed US in global conscience.
Trump 2.0 official thread
- Thread starter siegecrossbow
- Start date
Might as well as use AI to teach this since no human teacher can go through the lecture with a straight face.
On par was 10 years ago.
It is World Bank week here in DC and so there are lots of foreign economic and financial officials and big investors in town. Earlier today JPMorgan held a private meeting at which US Treasury Secretary Bessent spoke. Bloomberg broke the story about his comments on the US-China trade war, writing:
Bessent told a closed-door investor summit Tuesday that the tariff standoff with China cannot be sustained by both sides and that the world’s two largest economies will have to find ways to de-escalate.
That de-escalation will come in the very near future, Bessent said during an event hosted by JPMorgan Chase & Co. in Washington, which wasn’t open to the public or media. He characterized the current situation as essentially a trade embargo, according to people who attended the session.
But then the cleanup began, with reports from the Financial Times and that people are reading too much into his comments.
And from the :
Although Bessent expressed optimism that a deal would be reached at some point, he cautioned that there were no diplomatic negotiations between the countries to end the trade war.
Two people familiar with his remarks said however that there were no signs that Beijing and Washington were anywhere close to finding a solution and that markets were reading too much into his remarks.
One person said it was unclear if Trump agreed with his Treasury secretary.
Eamon Javers of what he said was a rough transcript of Bessent’s comments. This section sounds like what Trump tried and failed to get in his first term, and then had to settle for a disappointing purchase deal while kicking structural reforms to a Phase 2 that was never going to happen, and did not happen:
I believe the report from about six months ago to which Bessent referred is “” from the National Bureau of Economic Research.
PRC Minister of Finance Lan Fo’an will be in DC for part of this week to attend the World Bank meetings, so perhaps there could be a meeting, but if there is not that is probably another sign of no actual progress towards even discussions to talk about an off-ramp. I am skeptical there will be a meeting.
Given the audience - representatives of some of the biggest capitalist organizations in the world - it is not a stretch to imagine Bessent’s comments will be seen by PRC policymakers as another sign that US resolve is weakening, especially on a day when the Wall Street Journal leads with this headline:
Bessent told a closed-door investor summit Tuesday that the tariff standoff with China cannot be sustained by both sides and that the world’s two largest economies will have to find ways to de-escalate.
That de-escalation will come in the very near future, Bessent said during an event hosted by JPMorgan Chase & Co. in Washington, which wasn’t open to the public or media. He characterized the current situation as essentially a trade embargo, according to people who attended the session.
But then the cleanup began, with reports from the Financial Times and that people are reading too much into his comments.
|
Although Bessent expressed optimism that a deal would be reached at some point, he cautioned that there were no diplomatic negotiations between the countries to end the trade war.
Two people familiar with his remarks said however that there were no signs that Beijing and Washington were anywhere close to finding a solution and that markets were reading too much into his remarks.
One person said it was unclear if Trump agreed with his Treasury secretary.
Eamon Javers of what he said was a rough transcript of Bessent’s comments. This section sounds like what Trump tried and failed to get in his first term, and then had to settle for a disappointing purchase deal while kicking structural reforms to a Phase 2 that was never going to happen, and did not happen:
|
PRC Minister of Finance Lan Fo’an will be in DC for part of this week to attend the World Bank meetings, so perhaps there could be a meeting, but if there is not that is probably another sign of no actual progress towards even discussions to talk about an off-ramp. I am skeptical there will be a meeting.
Given the audience - representatives of some of the biggest capitalist organizations in the world - it is not a stretch to imagine Bessent’s comments will be seen by PRC policymakers as another sign that US resolve is weakening, especially on a day when the Wall Street Journal leads with this headline:
|
I disagree with this point. If the price is too high to afford, no one will agree to this' transaction '.
Trump is a person without credibility. Based on past experiences, if you agree to his conditions, he will only feel that 'you still have the ability to bear it, so I can raise the price a little more', and then mercilessly tear up the agreement.
So, the only possibility for him to achieve his goal is to send bombers to kill all the disobedient collaborators, but you know that's impossible.
You have also seen that even loyal puppets like Japan have to refuse because they have really paid too much tribute to the United States.
You know sh1t did just hit the fan when even OF is having a bad time.
The cheapest OF subscription is $5/mo, that's 2 burritos you could be financing (over four months).
lcloo
Major
Trump blinked, but beware this guy like to flip-flop. China should wait out Trump to actually reduce tariff before even talking to him. All tariff and port charges etc must be revoked first or else he would use tariff reductions proposals and port charges as his negotiation tools.