Posted on 03/11/2018 8:25:40 AM PDT by Mariner
China said Sunday that it will not initiate a trade war with the United States, but vowed to defend its national interests in the face of growing American protectionism.
"There are no winners in a trade war, and it would bring disaster to our two countries as well as the rest of the world," Minister of Commerce Zhong Shan said at a briefing on the sidelines of China's annual parliamentary session.
"China does not wish to fight a trade war, nor will China initiate a trade war, but we can handle any challenge and will resolutely defend the interests of our country and our people," he said.
It was Beijing's latest statement on "problems in Sino-U.S. economic trade and cooperation," alluding to President Donald Trump's plan to impose heavy tariffs on imported steel and aluminum. The U.S. leader said Thursday that he was slapping tariffs of 25 percent on imported steel and 10 percent on aluminum, temporarily exempting big steel producers Canada and Mexico.
Chinese leaders have threatened in the past to retaliate against raised trade barriers, but have yet to take direct action following Trump's announcement.
(Excerpt) Read more at cnbc.com ...
Our largest deficit by far.
And it's been going on for decades. For decades we have witnessed the siphoning of America's capital stock to fund the rise of the fascist dictatorship in China.
Of course, they'd be happy to buy more from us...that innocuous "dual use" stuff they can reverse engineer.
Steel no big deal. We have lotsa crap to dump. US is one big dumpster.
What’s the problem China you just voted Yogi Bear President For Life
China would be the biggest loser by far. They know it, which is why they won't retaliate. In fact, there has been a trade war for decades and China is winning.
There are those, even some on this board, that would argue that chart represents natural market forces in the realm of unhindered free trade, and no action should be taken to correct it.
Everything you said...DEAD ON
There are idiots everywhere.
We get stuff we want like washers & computers
They get green pieces of paper with printing on them.
If they are stupid enough to sell below their cost, it’s a win for us.
The beauty of the current proposals by President Trump is that for the first time in, what, a hundred years, we get to test the theory of honest to goodness tariffs wisely applied.
I believe Trump asked them to present a plan for reducing this imbalance, with a very modest starting goal
The ball is in their court
Genius way to tackle the problem
MAGA
Trade wars are bad m'kay? So let's listen to Trump about fair trade and get with the program. 10x the tariff into China as out of China isn't going to fly anymore.
There is a good reason for this.
Donald Trump is right - our so called trade negotiators have been negotiating such one sided, unfavorable trade deals that the rest of the world has been taking us to the cleaners on trade issues for decades.
Our negotiators have sold America down the river and our trade partners are frankly amazed at what they have been allowed to get away with and it's gotten so bad that they have developed the attitude that some day, Americans may get smart to what is going on , but until then they will make out like bandits while the getting is good.
It's taken a long while, but under Trump, America is finally getting smart.
Our competitors know full well the current playing field is about as unlevel as it can be and have been laughing at us for years. They are fully aware that the trade status quo is not a defensible issues and that a leveling of the playing field is many years over due .
They don't want to piss off the American consumer or the Trump administration create a backlash that actually tilts the playing field in America's favor for once.
“They don’t want to piss off the American consumer or the Trump administration create a backlash that actually tilts the playing field in America’s favor for once.”
China takes the long view. They think decades ahead.
Our trading “partners” know that President Trump has maximum eight years in office.
They are thinking ride out the Trump storm and whatever administration follows him will return to “normal” (bad for America) trade treaties.
Whoever follows President Trump in office is going to have to stick to tough and fair trade treaties or it will just be a return to present day Screw America.
They get WAY more than just some “green pieces of paper” as you so put it.
They have our manufacturing base, steel, aluminum, and specialty metals industries, unlimited access to our intellectual property, unfettered access to our markets, and plenty of capital and western know how to build up their communist empire.
The chinese don’t want a trade war, at this time.
Ten or twenty years from now? They could take over a seriously weakened US without firing a shot.
They just have to keep doing what they’re doing, placate the current crop of US politcians, continue with the looting of our intellectual property, and finish bleeding the free traders dry. The free traders are not concerned in the least though. They’ll be dead long before the chinese make their move.
I would say roughly between 2030 and 2050 is when the chinese make their move on the US.
That they are using to build their military capabilities, both technilogically and in numbers.
If they are stupid enough to sell below their cost, it’s a win for us.
So how has creating Chinese tax payers to pay into their military at the expense of ours been a win for us?
“They get green pieces of paper with printing on them.”
That’s a simple, libetarian and Republican Orthodox point of view that neglects the actual OUTCOME of the imbalance.
In fact this imbalance transfers both CAPITAL and Technology. The capital buys favor, additional capacity, influence and military capability.
As does the technology.
The travesty here is that the politicians we have elected to represent us have not only participated, but have LED these efforts on behalf of their contributors, who are skimming off the top of the largest transfer of Capital Stock in the history of modern man.
Ingeniously, they have developed a plausible intellectual construct and proffered it to the American people as the only reasonable approach, and of great benefit to them. Their universal chorus has led many to believe it.
All the while neglecting to even acknowledge the outcome.
The other side of the coin is instead of creating American tax payers to pay into our military and infrastructure, we created unemployed Americans who drained from it.
Yet here there are some that mention that China only imports 2% of the imported steel into the US, with a straight face.
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