Posted on 07/03/2018 3:58:33 PM PDT by SpeedyInTexas
Bloomberg link only:
https://www.bloomberg.com/news/articles/2018-07-03/xi-faces-hurdles-bashing-american-brands-in-a-trump-trade-war
Other US products are mostly owned by Chinese firms. Shanghai Disney is majority owned by Shanghai Shendi Group. Coke sold its bottling assets to COFCO. YUM (KFC/Pizza Hut) spun out its Chinese operations. McDonalds sold most of its assets to Citic Ltd.
China definitely holds a weak hand in a trade war with the USA.
Xi’s going to learn real quick that this isn’t 1976, anymore.
Xi doesn’t need to worry about an election. The House, the Senate, and Trump do. The pain that the trade war will cause, hopefully in the short run, will create fallout for Congress and the administration.
We can have a trade war now or a real war later. There may be no ability to choose one without the other, but burying our heads in the sand only means we face war far weaker when it finally comes.
Mr. DoodleDawg,
Which political party generally favors more protectionism -historically? The Democratic Party.
If Congress tries to restrain Trump on his tariff policy, it will be the Democrats (Schumer for example) that will cast votes for tariffs. Republicans are more of the “free traders”.
The ironic issue here, is that if a trade war costs Republicans seats in the Congress, Trumps tariff policy would likely be strengthened in Congress.
Thinking that “fallout” from the election will weaken the tariff policy sounds backward to me.
The Chinese need American buyers, more that American buyers need Chinese goods. We don’t NEED crap from Target or Harbor Freight. If the Chinese can’t sell stuff to us, their factories close and their workers are out on the street with no money and no jobs, Thousands of them, stoking anger and civil unrest.
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