Posted on 12/22/2016 8:12:46 PM PST by Rockitz
As the FT first reported yesetrday, in a dramatic development for Sino-US relations, Trump picked Peter Navarro, a Harvard-trained economist and one-time daytrader, to head the National Trade Council, an organization within the White House to oversee industrial policy and promote manufacturing. Navarro, a hardcore China hawk, is the author of books such as "Death by China" and "Crouching Tiger: What China’s Militarism Means for the World" has for years warned that the US is engaged in an economic war with China and should adopt a more aggressive stance, a message that the president-elect sold to voters across the US during his campaign.
In the aftermath of Navarro's appointment, many were curious to see what China's reaction would be, and according to the FT, Beijin's response has been nothing short of "shocked." To wit:
The appointment of Peter Navarro, a campaign adviser, to a formal White House post shocked Chinese officials and scholars who had hoped that Mr Trump would tone down his anti-Beijing rhetoric after assuming office.
“Chinese officials had hoped that, as a businessman, Trump would be open to negotiating deals,” said Zhu Ning, a finance professor at Tsinghua University in Beijing. “But they have been surprised by his decision to appoint such a hawk to a key post.”
Shortly after the announcement of Navarro's appointment, the US Office of the Trade Representative yesterday put added more fuel to trade tensions with Chine when it put Alibaba, China’s biggest e-commerce platform, back on its “notorious markets” blacklist of companies accused of being involved in peddling fake goods.
(Excerpt) Read more at zerohedge.com ...
Guess the Dollar Tree is going to have to rebrand itself: the DollarTen Tree.
Chinese are allowed to become citizens of the USA, but no american can ever become a citizen of China, unless they happen to be racially chinese.
A tariff is a tax that will be passed on to consumers. It’s a bad idea and not what Republicans have stood for in recent times.
No, it was not caused by speculation or tariffs.
You should read Carroll Quigley. There was substantial departure from the Gold-based exchange rates in order to fund WWI. The Brits aided by the U.S. Federal Reserve tried to force the Pound Sterling back up to 1913 value and in so doing triggered a deflationary spiral that crashed stocks, froze lending (because who would borrow if they had to pay back in MORE EXPENSIVE dollars or pounds?) and caused the GD.
Even higher tax rates were minimal impact on the economy as compared with the deflationary spiral deliberately forced by the globalist banks.
Tariffs are absolutely necessary to end the unsustainable trade deficits.
Hopefully, after a few years of tax cuts and elimination of regulations, they can be mostly removed again.
Things change. The U.S. built up its manufacturing under the protection of tariffs — then it was to our advantage to push for free trade. NOW IT IS CHINA and others who have built up manufacturing. FREE TRADE HURTS AMERICA AT THE PRESENT TIME.
Do not get locked into what Reagan said. He had bigger fish to fry (i.e., the Evil Empire; U.S. tax code) . . . and besides, whatever his rhetoric, he knew how to use the THREAT of TRADE WARS to benefit America.
If you do not believe me, do some research on the PLAZA ACCORD, a massive take-down of Japan under threat of Trade War that occurred on Reagan’s watch, in 1985.
I expect to see a 2017 “Plaza Accord” against China. The situation is almost identical to dynamic with Japan in the 1980s.
>>Reagan saved Harley Davidson with a tariff on Jap bikes <<
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True; but there was a MUCH BIGGER Trade maneuver Reagan quietly carried out against Japan: the Plaza Accord.
See my #125
A gradual increase in interest rates actually will benefit the economy at this time.
When rates are rising it benefits businesses to borrow NOW and invest in capital improvements like new factories. This is because they anticipate the TERMS are better NOW than in the FUTURE.
It’s a little counter-intuitive.
The only ones benefiting from Obama/Yellin’s artificially low rates are the giant banks that can trade CRAP in their derivatives casino and NEVER ACTUALLY MAKE BUSINESS LOANS, especially to small businesses.
While I’m sure China is buying certain advantages from our only native criminal class (aka politicians), the major problem is right here with regulations and taxes that are designed to drive companies offshore. Unfortunately, people seem to think China is the main problem. It isn’t. It is the regulatory swamp and tax policy. That is what we should focus on.
This post covers global trade. The fact that China is pissing in it pants shows that it has a lot to lose!
The Chinese justify their dumping by stating “it’s a lower quality product. Of course people should pay less for it!”
The Great Depression didn’t really start until 1932. That crash in 32’ made the one in 29 look paltry and the market had recovered 30% up to 1932.
So my point is that Hawley-Smoot was passed in that critical period between 1929 and the real beginning of the GD, 1932.
Start at 10% and raise it 2% per year until you reach 20%.
There is free and unfettered duty free commerce between the states as regulated by the feds. All 50 states have to follow the same federal commerce regulations.
There is NOTHING in the US Constitution that provides for economic freedom across international borders and in fact the opposite is true.
Remember George Washington signed the fist tariff act in 1789.
That is preposterous. Nobody really believes that. This is a globalist Free Traitor™ lie/propaganda.
The Great Depression was a financial crises caused by an inflated stock market crashing instigated by buying stocks "on the margin" with borrowed money .10 on the dollar. HAD NOTHING TO WITH TARIFFS.
Chinese make crap. I have never bought a Chines made car part that was worth a sh!+.
The USA built itself int an industrial powerhouse behind a high wall of tariffs. FACT.
I think JarHead lost screw on Parris Island.
Trump is a God send. Thank you God.
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