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Capitalism: Begun the Trade War has
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  • Our representatives have just returned from China where they had constructive talks having to do with a future Trade Deal. We thought we had a deal with China three months ago, but sadly, China decided to re-negotiate the deal prior to signing. More recently, China agreed to...buy agricultural product from the U.S. in large quantities, but did not do so. Additionally, my friend President Xi said that he would stop the sale of Fentanyl to the United States – this never happened, and many Americans continue to die! Trade talks are continuing, and...during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country. This does not include the 250 Billion Dollars already Tariffed at 25%......We look forward to continuing our positive dialogue with China on a comprehensive Trade Deal, and feel that the future between our two countries will be a very bright one!

    Finally some progress.

  • Slowly, slowly

    Just an hour after Beijing effectively devalued the yuan, when it launched the latest currency war with the US, Bloomberg reported that the Chinese government has asked its state-owned enterprises "to suspend imports of U.S. agricultural products after President Donald Trump ratcheted up trade tensions with the Asian nation last week."

    China’s state-run agricultural firms have now stopped buying American farm goods, and are waiting to see how trade talks progress.

  • China now export around 3.2x more to US than import.

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    And structure of export/import now reversed, as China is exporting now more advanced and tech oriented goods, while US much more basic things

    China

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    US

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  • Another point of trade war (and soon real one)

    1. Downgrading of diplomatic relations with India.
    2. Suspension of bilateral trade with India.
    3. Review of bilateral arrangements.
    4. Matter to be taken to UN, including the Security Council.
    5. 14th of August to be observed in solidarity with brave Kashmiris.
  • Nice view

    Trump's trade war has accomplished nothing tangible because that is the point. The goal of the trade war is to act as a distraction and scapegoat for the implosion of the Everything Bubble. As I have said for the past year, the trade war is not meant to be won, it is meant to be lost.

  • Backing off, as before hot season companies want to keep prices and delay official recession announcement

    The United States Trade Representative (USTR) today announced the next steps in the process of imposing an additional tariff of 10 percent on approximately $300 billion of Chinese imports.

    On May 17, 2019, USTR published a list of products imported from China that would be potentially subject to an additional 10 percent tariff. This new tariff will go into effect on September 1 as announced by President Trump on August 1.

    Certain products are being removed from the tariff list based on health, safety, national security and other factors and will not face additional tariffs of 10 percent.

    Further, as part of USTR’s public comment and hearing process, it was determined that the tariff should be delayed to December 15 for certain articles. Products in this group include, for example, cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing.

    https://ustr.gov/about-us/policy-offices/press-office/press-releases/2019/august/ustr-announces-next-steps-proposed

  • Smartphones market in China

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    It is expected that Apple will leave top 5 in early 2020 and will join "others".

    Btw, Samsung share is 0.9% and falling very fast, company is expected to fully leave largest market soon.

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  • The United States is now, by far, the Biggest, Strongest and Most Powerful Economy in the World, it is not even close! As others falter, we will only get stronger. Consumers are in the best shape ever, plenty of cash. Business Optimism is at an All Time High!

    We will soon be winning big on Trade, and everyone knows that, including China!

    “If they don’t get this Trade Deal with the U.S. done, China could have it first recession (or worse!) in years. There’s disinvestment in China right now. Also, the Fed is too tight"

    Nice drugs.

  • China has already replaced US trade imports:

    The trade war instigated by US President Trump is having an effect – but it’s not one that Washington DC will like to hear. The issue has just begun to sink in as the US deferred the latest round of tariffs to until December. Postponing the tariffs will do little to alter China’s new trajectory. The simple truth is that China’s share of bilateral trade with Belt and Road Initiative (BRI) countries, coupled with increasing trade with ASEAN, is more than compensating for any US trade downturn. This is why Chinese President Xi can afford to be ambivalent about the latest round of tariffs slapped on Chinese products to the US. It is also why Washington DC appears to be having second thoughts.

    While reducing its US imports, China has instead bought more from other countries, and especially from BRI countries. The big winners have been African and Latin American countries, many of which signed off on BRI MoUs last year. This can be seen in the graphic below, which shows a huge increase in Chinese buying from alternative markets and US purchases declining significantly over the year.

    The impact of the US-China tariff war will long be felt, and especially by US citizens and US companies overseas. Many of the latter, however, are already adapting to life externally from a US-based perspective. Some will become far more global and cease being “American” businesses in all perhaps but name.

    However, what does now seem apparent, when trade figures, and developments instigated by China, become more clear, is that the trade war is effectively already over. The sad thing about the US is that as China’s national purchasing strategy has changed, and it shifts its supplier base away from the US, those American businesses are highly unlikely to get that China market share back.

    https://www.china-briefing.com/news/china-makes-us-trade-war-trade-deficit-buying-asean-belt-road-countries/

    All this talk of the sky is falling in China, guess which country had the biggest contribution to global economic growth this year?

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  • “This isn’t my trade war, this is a trade war that should have taken place a long time ago,” Trump told reporters outside the White House.

    “Somebody had to do it,” the president said. He added, while looking to the heavens: “I am the Chosen One"

    Huh.

  • Huh... what can i say it's getting...huh...

    He should get the main role in the next Matrix sequel.

  • Huh ! I'm the chosen one , i will make US a third world country disguised in a first world country !

  • "In 1820, China contributed more than 32% to the world's gross domestic product. Then, almost 20 years later, came the infamous wars of opium and it was the beginning of the most tragic period of the great Asian country ". "The country then immediately suffered" aggression, successive territorial amputations [including Hong Kong] and humiliations of all kinds. " Domenico Losurdo, in Fuir l'Histoire (Editions Delga, 2007)

  • Friday China announced tariffs on $75 billion of American goods and cars, in a retaliatory move against President Trump, after he delayed some tariffs on Chinese goods to bolster the U.S. holiday shopping season.

    The tariffs will go into effect in two batches: one on September 1, and the other on December 15. “In response to the measures by the U.S., China was forced to take countermeasures,” said the Chinese State Council in a statement Friday.

  • New series of rants caused by thing posted above

    Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen! We don’t need China and, frankly, would be far ....better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing.....your companies HOME and making your products in the USA. I will be responding to China’s Tariffs this afternoon. This is a GREAT opportunity for the United States. Also, I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE.......all deliveries of Fentanyl from China (or anywhere else!). Fentanyl kills 100,000 Americans a year. President Xi said this would stop - it didn’t. Our Economy, because of our gains in the last 2 1/2 years, is MUCH larger than that of China. We will keep it that way!

    So, it is Fentanyl. I see.

  • Trump: Every selfie phone and selfie camera is made in CHINA. China is murdering us with selfies! And this must STOP! I hereby order everyone to stop taking selfies! Millions of Americans are falling off cliffs after saying CHEESE. The Grand Canyon is piling up with bodies and we can't get rid of them! One body on a donkey won't work, especially when the first donkey won't move! You have millions of donkeys carrying millions of bodies just standing there! Eating carrots grown by our Great Patriot Farmers and we're getting NOTHING for it! Not good! Bad for the American Economy. Bad Donkeys!

  • Next round

    Sadly, past Administrations have allowed China to get so far ahead of Fair and Balanced Trade that it has become a great burden to the American Taxpayer. As President, I can no longer allow this to happen! In the spirit of achieving Fair Trade, we must Balance this very.......unfair Trading Relationship. China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated!). Starting on October 1st, the 250 BILLION DOLLARS of goods and products from China, currently being taxed at 25%, will be taxed at 30%......Additionally, the remaining 300 BILLION DOLLARS of goods and products from China, that was being taxed from September 1st at 10%, will now be taxed at 15%. Thank you for your attention to this matter!

  • EU vs USA

    In terms of tackling threats from Donald Trump, the bureaucrats propose a highly aggressive new framework to slap tariffs unilaterally on the United States. They justify these unorthodox trade defense measures — called an “Enforcement Regulation” — by saying Brussels needs to draw up countermeasures in readiness for Trump effectively destroying the main global trade arbitration court at the World Trade Organization (WTO) by the end of this year.

    Without that safety net in Geneva to resolve trade disputes, the officials argue that the von der Leyen Commission would need a strategy to hit back against Trump’s tariffs outside the usual purview of WTO law, effectively plunging commerce back into the law of the jungle.
  • I'll repost it again

    Only conceivable basis under capitalism for the division of spheres of influence, interests, colonies, etc., is a calculation of the strength of those participating, their general economic, financial, military strength, etc. And the strength of these participants in the division does not change to an equal degree, for the even development of different undertakings, trusts, branches of industry, or countries is impossible under capitalism. Half a century ago Germany was a miserable, insignificant country, if her capitalist strength is compared with that of the Britain of that time; Japan compared with Russia in the same way. Is it “conceivable” that in ten or twenty years’ time the relative strength of the imperialist powers will have remained unchanged? It is out of the question.

    Therefore, in the realities of the capitalist system, and not in the banal philistine fantasies of English parsons, or of the German “Marxist”, Kautsky, “inter-imperialist” or “ultra-imperialist” alliances, no matter what form they may assume, whether of one imperialist coalition against another, or of a general alliance embracing all the imperialist powers, are inevitably nothing more than a “truce” in periods between wars. Peaceful alliances prepare the ground for wars, and in their turn grow out of wars; the one conditions the other, producing alternating forms of peaceful and non-peaceful struggle on one and the same basis of imperialist connections and relations within world economics and world politics.

    V. Lenin Imperialism, the Highest Stage of Capitalism

    Time after time smartest professors hired by capital told that guy is wrong, and time and time again reality showed how right he is :-)

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  • US companies make nearly $500 bil revenue in China, Chinese companies make ~$40 bil in US. Not included in exp/import figures.

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    Quitting Chinese market will be suicide for US firms

    US President Donald Trump has ordered US companies to "immediately start looking for an alternative to China." If US firms obey his dictate, such actions will have serious consequences.

    China is now the biggest market for some US-based enterprises, such as US automaker General Motors (GM). The automaker's China sales came to 3.65 million cars in 2018, exceeding its total sales in the US market, where GM delivered nearly 3 million vehicles. Some statistics have shown that China's car market is even bigger than those of the US and Japan combined. GM is already facing weak sales in the US. The automaker will suffer a fatal blow if it loses the Chinese market.

    GM is a big player in the US auto industry, an important component of the US economy that is particularly prominent in some Midwestern and Southern states. According to statista.com, motor vehicle and parts dealers in the US had about 2 million employees as of March 2019. If GM's profits fall or it loses money, the whole US auto industry will be affected, the country's auto supply chain will shrink and mass unemployment will result.

    In China, the vehicle industry is a fully competitive market. If GM withdraws from China, homegrown brands and automakers from countries outside the US will fill the gap in auto sales. As long as China has the world's largest vehicle market, there will be no shortage of auto-related investment. China has the initiative in this game.

    There's not much chance that GM will obey Trump's outburst. The automaker needs its factories to be close to its customers to survive in a fiercely competitive market. To keep its foothold in China, GM has to keep producing in China - despite Trump's order. If Trump pressures US companies to take sides between the US and China, many of them will probably choose the latter. US business groups have already expressed their fierce opposition to Trump's gyrating trade policy.

    "We do not want to see a further deterioration of US China relations," Myron Brilliant, executive vice president and head of international affairs at the US Chamber of Commerce, was quoted by media reports as saying. US companies are welcome to invest and operate in the Chinese market, but if some US companies want to obey Trump's order and join Washington's trade war, the result is bleak. A decision to give up the Chinese market is just suicide.
  • US investment in China rises despite trade war, says consultancy

    US companies invested $6.8bn into China in the first half of the year, up 1.5 per cent from the average during the same period over the past two years, according to the Rhodium Group, a consultancy. 

    Most of that total went into greenfield projects, such as electric vehicle maker Tesla’s factory in Shanghai, which will be the first wholly foreign-owned auto plant in China. Other large deals included US fund Bain Capital’s $570m investment in data centre provider Beijing Qinhuai. 

    “Companies we speak to are still investing and many are expanding to second and third-tier cities,” said Ker Gibbs, head of the American Chamber of Commerce in Shanghai. “They tell us that the China consumer growth story is still strong.”

    According to an Amcham China survey in May, 35 per cent of US companies in China said they were adopting an “in China, for China” strategy to cope with the impact of tariffs.

    Nike said in June it would “expand production in China for China”, while US chemical company Dow in June broke ground on a new silicone resin plant in eastern China to meet growing needs for high-performance materials in China. 

    “Fortune 1000 companies in anything to do with high-end manufacturing . . . are doing deals and expanding their China operations,” said James McGregor, greater China chairman at consultancy Apco. “They know that China will continue to be the world's most active manufacturing centre.” Some manufacturers were relocating outside China but mainly to avoid rising wages, said Mr McGregor.

    https://www.ft.com/content/cabf76d4-c5a1-11e9-a8e9-296ca66511c9

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  • President Donald Trump’s next move in an increasingly fraught trade war with China could be one for the history books, literally. The Trump administration has been studying the unlikely prospect of reviving century-old claims on Chinese bonds sold before the founding of the communist People’s Republic.