Trade War with China

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localizer

Colonel
Registered Member
I mean it’s pretty easy to predict what’s gonna happen based on this:
No trade deal.
Ban world high tech exports to China

Those rich old people in office won’t be here went shit goes down so whatever for them.
 

Shaolian

Junior Member
Registered Member
This incident reminds me of the kangaroo court decision on the South China Sea a few years back. It was so biased, with utter disregard with UN laws, because China was playing such a hard but fair game, that that was the only way that the West could hit back.

Well, what did that decision did for the West? The complete de-facto control of the South China Sea by China.

It is China's and by extension, Asia's goal that in the future, they will be able to prevent themselves from falling victims to these kind of actions. Like I said ALL their decisions will be calculated towards this goal. But maybe today's not the time yet for retaliation lest it disrupt that goal.

I've seen too many times of how China's leadership has managed to overcome these western challenges, that I'm quietly confident that they'll also handle this case wisely.

Remember, China has been peeling away the West's cards one by one, and these are one of their final, if not the final card.
 

SteelBird

Colonel
.
Not sure this is the latest news. You may have read this news already.

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Huawei exec accused of lying about ties to Hong Kong company that tried to sell U.S. gear to Iran
The executive is asking for bail following her weekend arrest in Vancouver.

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DEC. 7, 201801:16


Dec. 8, 2018 / 4:25 AM GMT+8
By David K. Li

Canadian authorities said Friday that the U.S. government believes a senior executive of a Chinese telecom giant lied about her ties to a Hong Kong company that tried to circumvent trade sanctions against Iran.

The revelation came during a bail hearing for Meng Wanzhou, chief financial officer of Huawei Technologies, who was
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Saturday at the behest of U.S. officials who seek her extradition to New York.



A lawyer for the Canadian Justice Department told a Vancouver judge that Meng misled banks to believe her company had no connections to Skycom Tech, which tried to sell American computer equipment to an Iranian mobile phone company — a move that violated U.S. sanctions on the sale of American goods to Iran.

Meng told U.S. banks that the two companies are separate operations, but Canadian authorities said American investigators believe Skycom works as subsidiary of Huawei.

"Ms. Meng personally represented to those banks that Skycom and Huawei were separate when it fact they were not separate," prosecutor John Gibb-Carsley said. "Skycom was Huawei."

No decision was reached Friday and the bail hearing was scheduled to resume Monday.


Meng faces up to 30 years in prison in the United States, making her an extreme flight risk, according to the Canadian government lawyer.

Defense attorney David Martin said his client would submit to electronic monitoring and that Meng wouldn't skip bail, which Martin said would bring shame to her family and country.

He pushed back against the prosecutor, who said Meng is too rich to be allowed to go free.

"The fact a person has worked hard and has extraordinary resources cannot be a factor that would exclude them from bail," Marin said.


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that a Huawei partner, Skycom, offered to sell Hewlett-Packard computer equipment to an Iranian company, which would violate sanctions on the country.

Reuters later reported that Skycom records showed
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between February 2008 and April 2009. Shenzhen-based Huawei is now the
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maker in the world.

Meng has said Huawei sold Skycom in 2009.

Appearing in a downtown Vancouver courtroom on Friday, Meng looked calm, wearing a green sweater and pants and waving at supporters in court, according to reporters on the scene.


Meng, 46, is the daughter of Huawei founder Ren Zhengfei, one of the most powerful businessmen in China. She is considered next line to run Huawei.

Her arrest has strained already-tense relations between Washington and Beijing in the wake of President Donald Trump's threats of increased tariffs on Chinese-made products headed to the U.S.

I did read this news. the cellphone version of CNN didn't show any news regarding the case but the PC version does.

one thing I don't understand that under what laws the US authority can order an arrest of a foreign citizen? for my understanding, this is not a criminal case. when Huawei buy something from a US company, they have a contract. the contract will state that Huawei can do what and cannot do what with US's products. If Huawei breach the contract, the US company can sue Huawei to the court and the consequences will follow on. the arrest of Meng is like it is a criminal case.
 
I'm late, so just one sentence:

"Meng did everything she could to be transparent with Huawei's banking partners, and the company always worked to ensure its compliance with sanctions law, her lawyer continued."
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Hendrik_2000

Lieutenant General
China's surplus with the US hits new record in November
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China-US relations remain tense despite a trade war truce struck between Donald Trump and Xi Jinping (AFP Photo/FRED DUFOUR)
Beijing (AFP) - China's trade surplus with the United States ballooned to a record $35.6 billion in November, official data showed Saturday, as exports across the Pacific remained strong despite a raft of US tariffs while imports shrank.

Relations between the world's top two economies continue to be tense despite a trade war truce struck between US President Donald Trump and his counterpart President Xi Jinping last week.

Trump and figures in his administration have said China would immediately start buying US goods in bulk, but Beijing has refrained from confirming those claims.

The increasingly lopsided trade in goods between the two nations threatens to further derail prospects for a trade deal during a 90-day negotiation period.

The ballooning trade deficit with China is a particularly sore point for Trump, who campaigned on turning around the situation.

China's exports to the US rose 9.8 percent for November on-year, while imports for the month fell 25 percent on-year, the data from China's customs administration showed.

American farmers have been hit particularly hard by the trade tensions. Trump tweeted this week that China would begin buying products from US farmers "immediately".

Usually Chinese buyers have snapped up American soybeans in the final months of the year as the harvest hits the market and beans from competitor Brazil dry up.

But this year, Chinese buyers have passed on US soybeans which face a 25 percent border tax upon import, part of the $50 billion in US goods Beijing hit with higher duties this summer in retaliation for US tariffs.

China's soybean imports fell 38 percent on-year, to 5.4 million tonnes for the month, the data showed.

The trade surplus with the US expanded to $293.5 billion for January-November, up from $251.3 billion during the same period last year.


China's overall trade -- what it buys and sells with all countries, including the US -- logged a $44.7 billion surplus in November, up from $35 billion the previous month, the data showed.

But growth of exports and imports slowed from October, with exports rising 5.4 percent for November on-year, short of the 9.4 percent forecast by Bloomberg News, and imports rising 3.0 percent on-year, also below the forecast.

The sagging export and import growth is another bad sign for China's economy, which grew at its slowest pace for nine years in the third quarter, expanding 6.5 percent on-year for July-September.

While exports to the US have held up so far this autumn, the row has sapped confidence.

The Shanghai composite stock index has fallen by about one-quarter from its January high, while the yuan has slipped about nine percent against the dollar.

- Trade truce -

The trade tensions with Washington come at a tough time for Beijing, which is battling to tackle a mountain of debt as credit tightens and infrastructure investment falls.

Last week, as part of the trade war truce, Trump agreed to hold off on plans to raise tariffs on $200 billion in Chinese imports to 25 percent beginning January 1, leaving them at the current 10 percent rate.

But unease over the agreement has dented stocks this week with major US indices falling more than two percent to close the market's worst week since March and one that left both the Dow and the S&P 500 in negative territory for the year.

China also reacted furiously after a top executive and daughter of the founder of Chinese telecom giant Huawei was arrested in Canada this week following a US extradition request.

In addition to buying US goods immediately, Trump claimed this week that China would roll back tariffs of 40 percent on US made cars -- but China's commerce ministry declined to confirm this move when asked about it Thursday.

Still, Beijing remains outwardly optimistic on prospects for a trade deal.

"We are fully confident that we can reach an agreement in the coming 90 days," commerce ministry spokesman Gao Feng said Thursday.

Trump tweeted out the quote, adding: "I agree!"
 

Anlsvrthng

Captain
Registered Member
But growth of exports and imports slowed from October, with exports rising 5.4 percent for November on-year, short of the 9.4 percent forecast by Bloomberg News, and imports rising 3.0 percent on-year, also below the forecast.
Another data point showing exhausted Chinese internal demand.

Current trade surplus is around the 3% of GDP, and growing.
Means there is insufficient internal demand, and China has to dump the excess stock onto the world.
 

ougoah

Brigadier
Registered Member
So many Chinese elites buying real estate in the West, and sending their kids there. This is a wake up call.

That's understandable though. They do not know they will never truly be welcomed and accepted no matter how much benefit they bring. It is up to Chinese to improve the situation within China so that there is less reason for leakages like that. They're doing a decent enough job but there's always room for improvement. Examples like these are indeed wake-up calls to those still naive enough to believe that the West works just like China. It doesn't.
 
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