Opinion: Trump winning trade war with China even as White House blinks - PressFrom - US

OpinionTrump winning trade war with China even as White House blinks

18:15  14 august  2019
18:15  14 august  2019 Source:   thehill.com

The White House quietly appointed a new China director who could rattle Beijing and make a US-China trade deal even less likely

The White House quietly appointed a new China director who could rattle Beijing and make a US-China trade deal even less likely The National Security Council has hired Elnigar Iltebir, a Uighur-American, to direct its China policy. Uighurs face severe oppression in China.

Even some Trump allies are mad at the latest twists in the U.S.- China skirmish. It was easy to miss the U.S.- China trade statement that the White House released Saturday, right in the midst of royal But it's hard to hide that China looks as if it's winning President Trump 's trade skirmish — so far.

“President Trump has given China every chance to change its aggressive behavior,” Mr. Navarro said in a call with reporters on Tuesday. In threatening tariffs on as much as 0 billion worth of Chinese goods, the administration is betting that Beijing will blink first. It’s a risky gamble by a White House

Editor’s note: The opinions in this article are the author’s, as published by our content partner, and do not necessarily represent the views of MSN or Microsoft.

Trump winning trade war with China even as White House blinks© Getty Images Trump winning trade war with China even as White House blinks

Renewed telephone conversations between high-level American and Chinese trade negotiators have led the White House to postpone tariffs on some Chinese imports from Sept. 1 to Dec. 15, and to remove other items from the list altogether. Critics will say that President Trump blinked, buffeted by swooning stock markets and talk of a possible recession that could damage his reelection prospects.

Trump jabs Fed, calls China's currency move 'major violation'

Trump jabs Fed, calls China's currency move 'major violation' U.S. President Donald Trump slammed China's decision to let its yuan currency breach the key seven-per-dollar level for the first time in more than a decade, calling it "a major violation" and jabbing the U.S. central bank. © Provided by Reuters "China dropped the price of their currency to an almost a historic low. It's called 'currency manipulation.' Are you listening Federal Reserve? This is a major violation which will greatly weaken China over time!" Trump tweeted. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.

The Trump administration is waging trade wars on multiple fronts as it imposes tariffs on foreign steel, aluminum, solar panels and washing machines from Mr. Trump ’s aggressive stance toward China is aimed at pressuring the country to curtail what the White House describes as a pattern of unfair trade

White House National Trade Council Director Peter Navarro speaks on trade with Vice President Mike Pence and Commerce Secretary Wilbur Ross before the President signs Executive Orders regarding trade .[34][35]. " Trump hits China with tariffs, heightening concerns of global trade war ".

That may be true. But it is also true that much of what the trade battle was meant to achieve has already been accomplished. That's called winning.

Though elites continue to deplore Trump's hawkish stance against China's cheating, the confrontation has helped publicize Beijing's corrupt and despotic regime. The result is an emboldened pro-democracy uprising in Hong Kong, a reordering of global supply chains formerly overly dependent on China and, perhaps most important, more aggressive truth-telling by the media. Those are significant accomplishments.

Starting with the media turnaround: A recent piece in the Financial Times reported that a group of Chinese hackers were "carrying out political espionage for Beijing while simultaneously attacking businesses for personal financial gain."

Trump, Trudeau discussed developments in Hong Kong, Canadians held in China

Trump, Trudeau discussed developments in Hong Kong, Canadians held in China U.S. President Donald Trump and Canadian Prime Minister Justin Trudeau discussed the Hong Kong protests and the ongoing detention of two Canadians by the Chinese government, a statement from Trudeau's office said on Friday. © Reuters/JONATHAN ERNST U.S. President Trump meets with Canada's Prime Minister Trudeau at the White House in Washington The Hong Kong protests started as a peaceful rebuke of the government in April but have evolved into a direct challenge to Communist Party rule over this former British colony.

BEIJING — China ’s leaders have sought to project confidence in the face of President Trump ’s But as it becomes clear that a protracted trade war with the United States may be unavoidable, there A Chinese investor at a brokerage house in Beijing on Thursday. Worry over the economy has led to a

China blinks and accepts a trade agreement more-favorable to the US. I figure this is a fair chance, since China has a growing economy, an enormous China does not trade fairly since entering the WTO they use their market as a lure. They force foreign companies to partner up with local companies.

A U.S. cybersecurity group called Fireye has, according to The Financial Times, identified a well-financed hacking cell within China that has been spying on numerous industries and individuals since 2014 at the behest of the government while carrying out for-profit cyber intrusions, apparently tolerated or condoned by the state. Called Advanced Persistent Threat 41, the spy group has operated in 14 countries, including the U.S., and targeted industries important to the success of Beijing's five-year economic plan like telecom, AI and semiconductors.

The most interesting thing about the Times story, to long-time critics of the West's interactions with China, is that it was reported at all. There was a time when media companies were intimidated by Beijing and reluctant to expose the government's role in cyber crimes and intellectual property theft or, indeed, a host of other misdeeds such as the persecution of the Uighurs.

Trade war is raising the risk of U.S. recession, Goldman Sachs warns

Trade war is raising the risk of U.S. recession, Goldman Sachs warns The trade war with China is having a greater effect on the U.S. economy than expected, and the risk of recession is rising, Goldman Sachs Group Inc. said Sunday. © MarketWatch photo illustration/Getty Images, Reuters President Donald Trump has threatened additional tariffs against Chinese goods starting Sept. 1. In a note to clients, Goldman analysts led by chief U.S. economist Jan Hatzius said a trade deal between the U.S. and China is no longer expected before the 2020 presidential election. Goldman (GS) said it now expects a 0.6% drag on the U.S. economy due to trade-war developments, up from earlier estimates of 0.2%.

So much for a U.S.- China trade war . If only President Trump had thought of that earlier! major U.S. equity markets are about where they were at the beginning of 2018, even if the are still The tariff war truce cuts both ways, but investors for the most part agree that a trade war with China is a negative for U.S business profits for the foreseeable future, or as long as the President stays in the White House .

President Trump on Tuesday moved to protect U.S. consumers from the next round of his trade war with China amid mounting threats to the economy and his reelection. Trump insisted Tuesday that he maintains the upper hand in his battle with China , arguing that Even so, Trump conceded that

You can hardly blame them.

The New York Times saw its English and Chinese-language websites blocked in China in 2012 when it published an article detailing the wealth of Prime Minister Wen Jiabao. Google and Bloomberg (which dared to publish a story about Xi Jinping's wealth) also got into hot water with China's censorship machine. A piece on media censorship published by the Council on Foreign Relations noted that "the France-based watchdog group Reporters Without Borders ranked China 176 out of 180 countries in its 2016 worldwide index of press freedom."

Media outfits took note and proceeded with caution.

That has changed, and we should credit President Trump for helping to "out" Beijing as a bad actor.

The White House's pushback against China's forced technology transfers, widespread espionage and unfair trade practices has not only encouraged more critical press coverage, it has also driven Americans' disapproval of China to record levels. As our government attempts to protect U.S. interests in China, it helps to bring the public along.

Stocks dip as Trump raises doubts about China trade talks

Stocks dip as Trump raises doubts about China trade talks President Trump said it's "fine" if a planned meeting of U.S. and Chinese negotiators doesn't happen next month

The trade fight between the United States and China intensified Monday as the two economic superpowers hit each other with This is what a trade war looks like 02:08. They include charging even higher tariffs, imposing import quotas, restricting Chinese citizens' travel to the United States for

Even more catastrophically worrisome is the Chinese stock market hit from the Trump administration tariffs. The Chinese stock market was already down Fourth, every one of the United States demands in the ongoing trade negotiations with China is irrefutably defensible. Yes, China must stop stealing

It has also demanded more honesty from America's multinational corporations, which have protected Beijing for decades, fearful that criticizing Chinese policymakers would exclude them from the fastest-growing large market on earth and a source of enormous cheap labor.

It wasn't just U.S. firms; the entire world turned a blind eye to Beijing's bad practices, convinced that China's sheer size and rapid transformation into an open, industrial society would deliver huge benefits to every nation. That was the premise for inviting China's participation in the World Trade Organization in 2001; the member nations, which embrace market economies, hoped Beijing would behave. That proved a false hope.

In the wake of tariffs being levied on Chinese imports, American and European firms are reordering their sourcing. It's high time. Depending on a country that scorns the rule of law is foolhardy. In the past few years, Chinese officials have "disappeared" any number of prominent business leaders in China and harassed and threatened to hold foreign executives hostage for political purposes.

These tactics, in addition to other outrages and combined with rising local wages, have made diversification an obvious necessity. Evidence of companies shifting their business to Vietnam and elsewhere is more than anecdotal. Quality Control & Supply Chain Audits, a company that monitors supply chain compliance, reported recently that demand for their inspections and audits in China from U.S.-based companies dropped by 13 percent in the first half of 2019 compared to the year before.

China Signals It Will Continue to Weaken Its Currency as Trade War Rages

China Signals It Will Continue to Weaken Its Currency as Trade War Rages China signaled on Thursday that it might continue to weaken its currency, a move that threatens to again escalate the trade war with the United States. China’s central bank on Thursday set the midpoint of the renminbi’s daily trading range above 7 to the American dollar for the first time in more than a decade. The move in effect tells financial markets that Beijing expects the renminbi to continue to weaken versus the dollar, perhaps well past the 7-to-the-dollar level. That is likely to provoke more ire from the Trump administration. A weaker currency helps Chinese factories offset the higher costs of Mr. Trump’s tariffs when selling their goods to the United States.

U.S. President Donald Trump , right, chats with Chinese President Xi Jinping during a welcome It was easy to miss the U.S.- China trade statement that the White House released Saturday, right in Trump even expressed openness to rolling back restrictions on the Chinese tech firm ZTE, a surprise

Trump calls trade war with China 'a little squabble'. The almost yearlong trade standoff between the United States and China is nothing but "a little squabble," President Donald Trump said Tuesday morning, telling reporters at the White House , "You know what: We always win ."

Citing its own mid-year survey, the company also noted that more than two-thirds of businesses in the U.S. and European Union had already started sourcing from new countries this year, or had plans to do so in the near future.

That signals a vast turnaround.

Meanwhile, the protests in Hong Kong could significantly weaken that region's position as Asia's top financial center, further undermining Beijing's economy. Hong Kong has played a critical role in funneling capital into and out of mainland China and in building the country's financial markets. About 58 percent of money flowing out of China passes through the semiautonomous region.

If investors come to perceive Hong Kong as unstable, China's ability to attract foreign investment, cited as a key pillar of Beijing's five-year plan, will also come under threat. Already, wealthy Chinese who once viewed Hong Kong as a safe haven have been shifting assets elsewhere.

The U.S. and other developed countries will not benefit from China's problems unless slowing growth and capital flight press Beijing to amend its behavior. Whether Xi Jinping will choose to compromise with the Trump White House and with the pro-democracy protestors in Hong Kong remains to be seen. But here's what we do know: Beijing is under pressure as never before, thanks to President Trump's trade battle. And the entire world could benefit.

Liz Peek is a former partner of major bracket Wall Street firm Wertheim & Company. For more information visit LizPeek.com. Follow her on Twitter @lizpeek.

Giannis Antetokounmpo would trade MVP for gold medal in China.
Giannis Antetokounmpo made a tremendous statement with his 2018-19 NBA season, earning NBA MVP honors while establishing himself as one of the game’s greatest. Speaking to reporters ahead of the FIBA Basketball World Cup, Giannis made it clear that there is something he desires far more than the NBA’s highest individual honor: “I would exchange the MVP title for the gold medal in China,” he said, per FIBA Basketball. Antetokounmpo is set to compete in the FIBA Basketball World Cup with his native Greek national team. Winning the title with this squad would be extremely special for the 24-year-old, who is already a national icon in Greece.

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