Trade War with China

Discussion in 'Strategic Defense' started by Ultra, Jan 27, 2018.

  1. AndrewS
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    AndrewS Senior Member
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    Projected growth by the IMF was 6.6% for China and 2.9% for the USA in 2019.

    In other words, the USA would see a 31% reduction in growth, but China would only see a 24% reduction in its much higher growth rate of 6.6%.

    So if Trump follow through on this, we will see the USA shooting itself in the foot.
     
    #2311 AndrewS, Oct 11, 2018
    Last edited: Oct 11, 2018
  2. Dolcevita
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    Dolcevita Junior Member

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    Looks more like SB is getting desperate in finding news to support his bias. When the head of Japan's largest business federation comes to visit Beijing and pay their respect, It is only polite to offer them business and economic cooperation as he has always done, :rolleyes:
     
  3. Hendrik_2000
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    Hendrik_2000 Brigadier

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    That is correct actually it is the Japanese business circle that is pushing for closer tie with China They want to participate in BRI It is win win for both side The Japanese get the cut The Chinese has partner to lessen the risk and give it more credibility to ward off smear campaign to slander China with debt trap etc So it is a good move for both side
    Anyway Trade figure coming from China beat expectation by wide margin Tariff no Tariff it does not make a difference proof once for all that tariff is self defeating. China export to US ballooned while import from US slump
    China-US surplus hits record, adding fuel to trade war
    [​IMG]
    Shipping containers being unloaded at the Port of Long Beach, California (AFP Photo/Mark RALSTON)
    China's trade surplus with the United States ballooned to a record $34.1 billion in September despite a raft of US tariffs, official data showed Friday, adding fuel to the spiralling trade war.

    China's exports to the US rose to $46.7 billion while imports slumped to $12.6 billion, according to the customs administration.


    The world's top two economies imposed new tariffs on a massive amount of each other's goods mid-September, with the US targeting $200 billion in Chinese imports and Beijing firing back at $60 billion worth of US goods.

    "China-US trade friction has caused trouble and pounded our foreign trade development," customs spokesman Li Kuiwen told reporters Friday, adding that the overall situation could be controlled.

    China's overall trade surplus expanded to $31.6 billion, as exports rose faster than imports.

    Exports jumped 14.5 percent for September on-year, beating forecasts from analysts polled by Bloomberg News, while imports rose 14.3 percent on-year.

    While the data showed China's trade remained strong for the month, analysts forecast the trade war will start to hurt in coming months.
     
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  4. Tam
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    Tam Junior Member
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    No one mentioning the stock market crashing two days in a row now? And that Treasury Yields are going high? Oil and tech stocks plunging? Everyone freaking out?
     
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  5. AssassinsMace
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    AssassinsMace Brigadier

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    Trump was bragging about all the money the US was making on tariffs. The US is making more money from tariffs than ever before from exports from China that's breaking record surpluses yet still angry...

    Funny about how people were bragging about how China didn't slap tariffs on US oil meaning to them China is dependent on US oil. But now US oil exports to China have plunged to nearly nothing. Not buying US oil is worse than a tariff.

    https://finance.yahoo.com/news/trump-says-lot-more-china-130526049.html

    All you have to do is look at North Korea. The US could do a lot to North Korea yet the US and its allies were too afraid to take on North Korea. Why? Because it's not about what you can do. It's about what you're willing to lose. That is every Western countries' weakness including the US. The richer, the more important you think you are, the more you have to lose, the less likely you're going to do anything including sacrificing your life.
     
  6. Dolcevita
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    Dolcevita Junior Member

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    Surely more proof that China is getting desperate by suggesting cooperation for Japan PM visit, right SB? :D;)

    http://www.asahi.com/ajw/articles/AJ201810120056.html

    China says Abe to make official visit this month

    BEIJING--Japanese Prime Minister Shinzo Abe will visit China from Oct. 25 to 27 in the first official visit by a Japanese leader in seven years, China said on Friday, as the United States steps up trade pressure on Beijing and Tokyo.

    U.S. President Donald Trump has made clear he is unhappy over Japan's $69-billion trade surplus with the United States, and wants a two-way agreement to address it with the U.S. ally.

    He has also slapped tariffs on hundreds of billions of dollars of Chinese imports for what he calls its trade abuses, prompting retaliation from Beijing.

    "We hope this visit by Prime Minister Abe can help consolidate and elevate mutual trust, deepen practical cooperation, and promote continuous new development in ties," Chinese foreign ministry spokesman Lu Kang said in Beijing.

    China welcomes investment from Japanese firms, he told a regular briefing, adding that increasing trade and economic cooperation between the two major economies benefits both them and the world.

    "We attach importance to China-Japan relations."

    Visits by Abe in recent years to attend multilateral events in China have not been considered official visits.

    In September, after meeting Chinese President Xi Jinping in Russia, Abe said the two sides had agreed to work toward an October visit, in what was seen as a sign of warming ties between the two Asian rivals.

    "Both Japan and China share a big responsibility for the peace and prosperity of this region," Abe said in a speech in Tokyo on Friday.

    He added that he aimed to drive ties between the neighbors to a new level through mutual visits by their leaders and expanded exchanges between their people.

    Abe returned to office for a rare second term in December 2012, promising a hard line towards China in a territorial row over tiny islands in the East China Sea.

    Although the dispute simmers, relations have stabilized recently amid trade actions by Washington toward both countries.
     
  7. AssassinsMace
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    AssassinsMace Brigadier

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    And Abe is now open to RCEP that doesn't include the US and will be discussed at this year's APEC summit. TPP was suppose to be a counter to RCEP yet it's not enough.
     
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  8. Tam
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    Tam Junior Member
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    China buying Canadian crude. Canadian oil is not just cheaper, but also richer in Bitumen than West Texas Intermediate Crude. You need Bitumen for asphalt and other infrastructure uses, and China is still building infrastructure like there is no tomorrow.

    https://www.theglobeandmail.com/inv...-gets-even-worse-canadian-crude-hits-another/

    Chinese not buying US oil is a factor in causing oil stocks to go down, which may have helped the stocks to crash in the last few days, along with the issues with Iran.

    China not buying new US Treasuries, or just allowing existing ones to mature without replacement, may also be a factor in the rise of US Treasury yields. No one is willing to say the C-word when it comes to the cause of the rise in Treasury yields, certainly not the corporate shilling business press (CNBC, Bloomberg, Fox Business) but do you find it a coincidence this is happening at the same time?

    Smart for the Russians giving up on US Treasuries to buy Gold when Gold is low. Now people are flocking to Gold as an investment shelter and where to park their money.

    Tech stocks led the rout but I still expect cloud and mobile tech companies to shine when they release their earnings this October. This can cause the stock market to rise but this does not solve their fundamental issues about the tech stock bubble.

    1. Vulnerability of the China-US tech supply chain due to the trade war. Imagine if tariffs were truly imposed on Apple iPhones.
    2. EU leading a movement to cut the US tech giants to size, ranging from fining Google on Android to faxes on Apple, and now Amazon is under investigation.
    3. US self inflicted. Wanting to investigate concerns about Facebook and Google, and so on.

    Two red indicators on the US economy. Mortgages are down, leading financing firms to cut down their mortgage departments and laying off staff. This will hit the housing and construction industry, and the industries supplying them.

    https://www.realtor.com/news/real-e...fast-approaching-5-fresh-blow-housing-market/

    The second red indicator are car sales. Aluminum and steel tariffs are hurting car manufacturers as well as tariffs on Chinese parts. New trade deals with Canada and Mexico are not going to help when the automobile corporations are going to report their quarterlies. Already Ford is sounding they are going to lose big money and planning to layoff.

    http://www.thedrive.com/news/24176/ford-loses-1b-to-trump-tariffs-announces-massive-layoffs

    Bad for GM, whose stocks have been slumping for months now.

    https://www.fool.com/investing/2018/10/11/sales-just-slumped-will-general-motors-cut-its-45.aspx

    Look to signs on US consumer spending --- car sales, home mortgages, the retail front where we are still having Retailpocalypse (Sears maybe reading to declare bankruptcy soon), and you got a very jittery US stock market.
     
    #2318 Tam, Oct 13, 2018
    Last edited: Oct 13, 2018
  9. Jura
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    Jura Lieutenant General

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    now I read this
    Opinion: 'The art of the deal' can't be a light for the world
    2018-10-13 13:18 GMT+8 https://news.cgtn.com/news/3d3d414e774d444f7a457a6333566d54/share_p.html

     
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  10. PiSigma
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    PiSigma "the engineer"

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    Please don't quote globe and mail on oil news. Canadian crude is not rich in bitumen, it is bitumen. It is asphaltene rich, which makes the asphalt used to pave roads. Also because there is a huge discount to Canadian oil due to professional "eco warriors" protests, all paid for by the koch brothers.
     
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