Trade War with China

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manqiangrexue

Brigadier
I can't imagine a US citizen whom would adopt such Hateful, Divisive emotion?
Well well look who doesn't know half his country, AKA the democratic party!
your own words for the whole world to see my friend, I hope you will be man enough to retract that statement, and ask the mods to delete your post... you're much better than this!
There you go with that pathetic strategy again, as if someone who suddenly agrees with you will be rewarded with "being man enough" and being "better." LOL There's plenty of people who disagree with you on every point and are every bit as manly or as "good" as they would have otherwise. You know what would make someone "no good" or "not manly"? If he somehow changed his mind because of your pressure or fell for that obvious bait.

Actually, Mao/Stalin/Hitler weren't complete jokes with half their countries laughing at them like Trump is. They didn't say stupid, incorrect things only for reporters to disprove in 5 minutes with a fact check, which is Trump's daily routine. When it comes to leadership, Trump's a midget compared to them. Yeah, they all made bigger mistakes than start a trade war but honestly, who knows how much damage Trump could do to his country if there weren't checks and balances on him.
 
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now I read
Economic Watch: Healthy China-U.S. ties conducive to world economy
Xinhua| 2018-12-02 19:49:02
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After months of tariff duels, China and the United States have seen positive changes in their economic relationship following a meeting between the presidents of the two countries.

Chinese President Xi Jinping and U.S. President Donald Trump reached important consensus during their working dinner Saturday, said Chinese State Councilor and Foreign Minister Wang Yi when briefing the media on the Xi-Trump meeting after the Group of 20 summit in Argentina's capital city of Buenos Aires.

Wang said both heads of state have agreed to "have further exchange of visits at an appropriate time," continue the trade talks between the two countries and stop imposing new tariffs.

As the world economy is facing downward pressure and becoming more uneven, analysts said that the consensus was conducive to easing market fears over the escalation of new trade restrictive measures between the world's two biggest economies.

In his speech at G20 summit, Xi said that the number of new trade restrictive measures applied on a monthly basis among G20 members had doubled compared with six months ago. In 2018, the growth of trade in goods may decline by 0.3 percent globally.

"We should stay committed to openness and cooperation and uphold the multilateral trading system," Xi said, stressing win-win cooperation to promote inclusive global development.

China is taking solid steps to advance opening-up in the service sector, expand financial opening-up and accelerate the opening-up process of sectors including telecommunications, education, medical treatment and culture.

Last month, the first China International Import Expo (CIIE) was successfully held, which was warmly received by the international community. The CIIE will be held annually as a way to further open China's market. China's imported goods and services are estimated to exceed 30 trillion U.S. dollars and 10 trillion U.S. dollars respectively in the next 15 years.

China has also taken efforts to foster a world-class business environment, and promote international cooperation at multilateral and bilateral levels. In the latest World Bank Doing Business report, China moved up 32 places in the ease of doing business ranking from last year.

According to Xi, China hopes that all countries will work together for a free, open, inclusive and orderly international economic environment.

Liang Ming, a researcher with the Chinese Academy of International Trade and Economic Cooperation, said Dec. 1 was "an important day" for China and the United States, as the two countries made "the first step" in the past few months towards a healthy relationship.

"China and the United States share huge potential in trade. Currently, China is the United States' third largest export market. It could become United States' largest export market if trade potential in farm produce and energy are fully released," Liang said.

He said that the important consensus reached by the two heads of state could help stabilize the global financial market, which had been rattled by the past disputes. If upcoming talks could yield positive results, that would help reverse the slowing trend of world economic growth and global trade.

IMF chief Christine Lagarde on Saturday said there was "an urgent need" to de-escalate trade tensions, reverse recent tariff increases and modernize the rules-based multilateral trade system.

In a statement issued at the conclusion of the G20 Summit, Lagarde reiterated her staunch opposition to trade barriers. "Pressures on emerging markets have been rising and trade tensions have begun to have a negative impact, increasing downside risks."

The IMF estimated that, if recently raised and threatened tariffs were to remain in place and announced tariffs were implemented, about 0.75 percent of global gross domestic product (GDP) could be lost by 2020. If, instead, trade restrictions in services were reduced by 15 percent, global GDP could be 0.5 percent higher.

"We are all living at an important historical moment; an historical moment in which decisions by leaders of the world's two largest economies will determine the trajectory of the 21st century," said AmCham China Chairman William Zarit, hoping for a healthier and more sustainable U.S.-China trade relationship.

According to Wang, the two presidents agreed that the two countries "can and should" ensure success of China-U.S. relations and that coordination, cooperation and stability should be the defining features of bilateral relations.

In the eyes of Liang Ming, the upcoming negotiation leaves room for the two countries to put an end to the trade frictions by stopping imposing additional tariffs and annulling tariffs already imposed.

"The December 1 meeting is not the end of the story. It is a new start," he said.
 

SteelBird

Colonel
let me "retweet"
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China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%.
As for my personal opinion, US and China cannot go tit-for-tat. For a win-win solution, China needs to concede at some degree so that both sides can accept and decrease this standoff to a lower stage (I'm afraid the trade war cannot be completely eliminated) so everyone can do business happily.
 

Biscuits

Major
Registered Member
As for my personal opinion, US and China cannot go tit-for-tat. For a win-win solution, China needs to concede at some degree so that both sides can accept and decrease this standoff to a lower stage (I'm afraid the trade war cannot be completely eliminated) so everyone can do business happily.

Jesus what is even the point of trying to pursue a win win solution? US is just clawing for unfair advantages and won't give up until they get tons of hand outs.

They had a good thing going with the agriculture tariffs. Might as well go for the kill instead of doing a half assed job.
 

Broccoli

Senior Member
Privatization is the key word what breeds innovation and healthy economy in a long run. Who cares if the company is foreign as long they hire locals and pay their taxes? Both Donny and Xi are similar in a way that they believe consumer doesn't know the best and that markets are wrong.

Governments should stay away as much as possible (imposing eco regulations is their only job etc) from private businesses doings instead of trying to impose their will on markets & consumers.
 
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AndrewS

Brigadier
Registered Member
Privatization is the key word what breeds innovation and healthy economy in a long run. Who cares if the company is foreign as long they hire locals and pay their taxes? Both Donny and Xi are similar in a way that they believe consumer doesn't know the best and that markets are wrong.

Governments should stay away as much as possible (imposing eco regulations is their only job etc) from private businesses doings instead of trying to impose their will on markets & consumers.

That is not entirely accurate.

Competition is what breeds innovation and a healthy economy in the long run.
So private companies are more suited to operating in competitive markets where there are lots of suppliers and also customers.
And yes, in the case of China, I don't think China has anything to fear from foreign companies setting up in China. It's been happening for decades now.

But what happens when there is is only one supplier and one customer?

In the MIC, we see scenarios where there is only one supplier that the US government can choose from.
So we have numerous examples of privatised companies charging excessive prices and delivering substandard products because they can get away with it.
In these market failure scenarios, it is debatable whether a private company or a state owned company is better.
 
here comes this
Commentary: With sincerity, no issue is insoluble between China, U.S.
Xinhua| 2018-12-02 20:14:10
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If there is a magic wand to solve the China-U.S. trade frictions, that is sincerity.

At a working dinner under global spotlight, Chinese President Xi Jinping and his U.S. counterpart Donald Trump managed to reach consensus here Saturday over their countries' economic and trade issues.

The consensus, for the time being, relieves people around the world who were anxiously waiting for the result and, what's more, demonstrates that as long as the two sides have sincerity, there is a way out.

China-U.S. relations are at a critical moment. This meeting was the first face-to-face interaction between the two heads of state since trade ties between the world's two largest economies became frayed in March this year.

The two countries now agree to avoid escalation of trade restrictive measures, a positive signal that points out the direction for as well as injects impetus into the development of economic and trade ties between them for the next stage.

To solve their economic and trade issues, the mindset plays the most important role. Dragging on from spring to winter, this round of China-U.S. economic and trade frictions has lasted for more than eight months.

During the period, a previous consensus was later torn up by the United States, and recently, in particular, the White House made some different voices, triggering concerns about the prospects of China-U.S. relations.

This time the two sides chose to meet in Buenos Aires, showing a positive attitude that made the outside world see the dawn of solving the issues as soon as possible.

After three rounds of consultations, China and the United States have accumulated more experience in dealing with each other.

The Xi-Trump meeting has put a brake on the China-U.S. trade dispute to prevent it from further escalation. Either Beijing or Washington should treasure the hard-won progress.

For now, the economic teams on both sides should implement the directions by the two heads of state, take immediate steps to tackle the issues of the other side's concern, accelerate consultations to secure agreements so as to remove the additional tariffs imposed this year, and put bilateral economic and trade ties back onto the normal track at an early date.

However, considering the size of their economies as well as the complexity of bilateral ties, there is yet a long way ahead before anything of substance can be achieved.

The China-U.S. relationship, which is a month away from its 40th anniversary, is at a historical juncture.

As long as the two countries join efforts to remove disturbances, build up mutual trust and step toward each other, they will be able to have both the wisdom and time enough to manage their differences properly.
 

Totoro

Major
VIP Professional
It's going to be hard to solve anything sincerely since both sides want to be the top dog, both when it comes to technological prowess, economic clout, political influence in the world, etc. Theoretically, China hasn't shown so explicitly they want to be at the top, though US has. Until that desire changes and until both sides are sincerely content with sharing the top place in the world - no such solution can be had.
 
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