Posted on 05/30/2019 12:04:43 PM PDT by SeekAndFind
Economist Gary Shilling predicts that not only will President Donald Trump win the seemingly endless trade war with China, but in the long run the U.S. will be better off.
“People say nobody wins trade wars. Yeah, in the short-run you don’t, but in the long-run…the U.S. will be better off,” Shilling recently told Business Insider.
“When you’ve got plenty of supply in the world, and I think you do. It’s the buyer that has the upper hand not the seller. The buyer has the ultimate power and who’s the buyer? U.S. is the buyer, China is the seller,” he told BI according to Hellenic Shipping News.
“If we weren’t buying all those consumer goods from China…where would China sell them? They have no other place to sell them, and in the meanwhile, China’s growth is slowing,” said the president of economic consulting and forecasting firm A. Gary Shilling & Co.
Shilling, also a Newsmax Finance Insider, urged Trump to continuing challenging China’s “underhanded” trade practices. “They [China] basically have not fulfilled their promises, they have not opened up their technology, they’re not opening up to our investments, they steal our technology, they demand tech transfers for companies that want to operate in China and so on,” he said.
Shilling predicts Trump will eventually win long-overdue concessions from China.
“They [President Xi of China and President Trump] could go to the mat and you could get a really nasty, all-out trade war and a serious global recession. I’m not predicting that. I think they probably will settle and China will begrudgingly give ground. They’ll import more U.S. goods, they’ll ease up on required tech transfers, steal less of it. They’re not going to change their views entirely, but I think under pressure, they probably will give way
(Excerpt) Read more at newsmax.com ...
Nationalize all the Chinese debt and real estate.
Bad idea, IMHO. The US is subject to more nationalization issues than anyone else. Let's not open that Pandora's Box for a satisfying one-time strike.
The “endless trade war” hasn’t even really started yet.
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