As China's Economy Implodes, Trump Ratchets Up the Pressure

PJ Media ^ | 5-4-2020 | Jeff Reynolds

[Sir Napsalot]

As the Wuhan coronavirus continues to spread, stay at home orders have shut down commerce in many parts of the world. Some have predicted a 40% contraction in the U.S. economy in the 2nd quarter of 2020. This means that China’s economy, heavily dependent upon exports, will see no economic rebound for quite some time. ...

The Epoch Times reports that China’s manufacturing industries have completely imploded:

Chinese factories are ramping up production as the country struggles to get back on its feet from the pandemic-induced recession. Around 80 percent of the small and medium-sized businesses, and nearly all large firms have returned to work, according to China’s commerce authorities (in simplified Chinese). But analyses of recent data from the country suggests a quick rebound is nowhere in sight.

Export orders, including to China’s top export markets of the United States and Europe, have shriveled up as the virus shatters the world economy and workforces continue to shrink, and companies are uncertain about the outlook ahead.

(snip)

This gives the Trump administration more ammunition in its attempts to move global supply chains away from the Chinese Communist Party (CCP). Reuters reported on Sunday:

Now, economic destruction and the massive U.S. coronavirus death toll are driving a government-wide push to move U.S. production and supply chain dependency away from China, even if it goes to other more friendly nations instead, current and former senior U.S. administration officials said.

“We’ve been working on [reducing the reliance of our supply chains in China] over the last few years but we are now turbo-charging that initiative,” Keith Krach, undersecretary for Economic Growth, Energy and the Environment at the U.S. State Department told Reuters.

[Sir Napsalot]

Note: I couldn't read the whole Epoch Times article, didn't sign up for further reading. So I'll accept the author (Jeff Reynolds) excerpt.

Link: https://www.theepochtimes.com/no-sign-of-recovery-for-chinese-economy-as-virus-cripples-export-orders_3336205.html

Here is some interesting tidbits:

"The report describes a “whole-of-government” effort in which free trade advocates seem to be losing their struggle with China hawks inside the administration. Citing national security concerns, many departments have joined in the process to figure out how to incentivize U.S. firms to move their operations out of the Chinese mainland. Options reportedly include ‘reshoring’ subsidies, tax incentives, developing closer ties to Taiwan, and ever higher tariffs on goods produced in China."

Note what Keith Krach, undersecretary for Economic Growth, Energy and the Environment at the U.S. State Department, said. Moving manufacturing jobs away from foreign soil, esp. China, had been going on since Trump took office. Now this is on super accelerating turbo charge.

No wonder CoC (Chamber of Commerce) was out attack Trump admin a few days ago. I would not be surprised one bit if they financially backing Justin Amash's 'presidential bid'.

[stevem]

There ought to be a 500% tariff on anything from China for the next 25 years.

[Sirius Lee]

They should reward Kissinger for his part in this mess with a necktie party.

[pepsi_junkie]

China owns most of our politicians and deep state apparatchiks. Don’t hold your breath waiting for any long lasting punitive actions taken.

[Responsibility2nd]

Imploded? Has the CCP economy really imploded?

We better hope not. Like it or not, much of our economy is tied to China.

But even so, the very idea that China is in a world of financial hurt gives credence to the idea that the Wuhan virus was not a designed bio-weapon. But an accident.

[combat_boots]

Not necessarily

Maybe someone needed some dough.

[CatOwner]

China owns most of our politicians and deep state apparatchiks. Don’t hold your breath waiting for any long lasting punitive actions taken.

Agreed. When you add in the vast number of US citizens itching to spend money on the cheapest item they can find as soon as they're allowed, China's economy is going to spiral upward.

[Responsibility2nd]

There ought to be a 500% tariff on anything from China for the next 25 years.

_________________________________________

AND.....

Immediate USA debt forgiveness of the trillions of dollars the CCP currently holds.

[smvoice]

Is he still alive,? I swear evil cannot be killed.

[rrrod]

China owns the Democrat party.

[Sirius Lee]

Henry Kissinger Former United States Secretary of State Henry Kissinger Born: May 27, 1923 (age 96) · Fürth, Germany

Amazing what feasting on human baby fetuses can do for a fella...

[rfp1234]

But even so, the very idea that China is in a world of financial hurt gives credence to the idea that the Wuhan virus was not a designed bio-weapon. But an accident.

Bat-Chernobyl.

[Pravious]

There ought to be a 500% tariff on anything from China for the next 25 years.

—

I liked the idea from someone I read earlier that we should declare them an enemy country and refuse to let companies make things there.

Let them eat cats, dogs and bats and make their cheap Chinese crap for their own use until the end of time, as far as I’m concerned. We would have been far better off if our own companies hadn’t sold out their own country for profit by using the Chinese in the first place.

[Dr. Sivana]

There ought to be a 500% tariff on anything from China for the next 25 years.

The CHiComs have already been playing games using middlemen in Vietnam and other countries to disguise their products. If we are going to import cheap stuff, it should be from places like Mexico, Brazil, Honduras, etc. Also, as manufacturing becomes more automated, much of it can return here to the U.S. without making the products unaffordable or paying workers less than standard U.S. wages.

[Sir Napsalot]

Democrat party, corporate media, higher education institutions, large swatches of businesses large and small, etc. etc. You name it.

Like I said on Belmont Club site the other day:

>>> America is too broke to engage in overt military war with the CHICOM’s. $24,946,709,000,000 in the hole and rising. <<<

True. ChiComm and our other enemies just might be counting on that.

But I am not as worried about them (i.e. waging an overt military war) as our domestic enemy/enemies inside our borders already.

[gnarledmaw]

Maybe just the opposite. The nations of the world are rapidly aging due to failure to reproduce. China is aging quickly into a nation of “useless eaters” and doesn’t have enough people to continue the present rate of production let alone whatever increase their government needs to cover their near term plans of domination behind One Belt, One Road. With this infection targeting the older population that would free China to not only forget the bad old days of the one child policy but to reward reproduction.

[TwelveOfTwenty]

If we are going to import cheap stuff, it should be from places like Mexico, Brazil, Honduras, etc.

I especially agree with this on Mexico. They played ball with us be renegotiating NAFTA, so let's play ball with them.

[Liz]

The monumental disaster of the US-China Relations Act is becoming clearer.It was Bill Clinton’s last (cough)
"presidential accomplishment," the historic moment when a Democrat president of the greatest superpower of all time,
sap-happily handed its demise to a backward country, poised to strip America of its intellectual and
technological superiority.

=============================================

SOURCE functionhttps://dailycaller.com/2016/09/02/flashback-bill-clinton-collected-donations-then-us-missile-tech-shipped-to-china/

(Lobbying a president at a WH gala was unheard of till the greedy Me-First Clintons came to town....)

Pres Clinton was lobbied at a WH gala by big buck donor Bernard L. Schwartz, CEO of Loral Space & Communications Ltd......

First Clinton made sure to collect donations ........then he shipped Loral's US missile tech to China.

JOHNNY CHUNG: "Gotta put coins in---ka-ching---to make Clintons do something.

[TwelveOfTwenty]

I especially agree with this on Mexico. They played ball with us by renegotiating NAFTA, so let's play ball with them.

[Bubba Ho-Tep]

Immediate USA debt forgiveness of the trillions of dollars the CCP currently holds.

Yes, let's show the world that we don't honor our debts.