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Thread: Beijing started this trade conflict — Trump intends to finish it

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    Default Beijing started this trade conflict — Trump intends to finish it

    Beijing started this trade conflict — Trump intends to finish it

    By Dan DiMicco, opinion contributor — 06/09/19 01:00 PM EDT


    © Getty Images

    There’s an important point to remember in the current U.S.-China trade conflict: Beijing started it. For the past 20 years, China has been at war with the U.S. economy, using massive subsidies, currency manipulation and intellectual property theft to continually erode America’s manufacturing base.

    It’s a strategy that has worked phenomenally well. Over the past two decades, the United States has lost 5 million manufacturing jobs and nearly 90,000 factories.

    After years of this economic aggression, the Trump administration is now saying, “Enough is enough.” But when the president recently imposed 25-percent tariffs on roughly half of Chinese imports, Wall Street cried foul.

    However, it was an absolutely unquestioning adherence to free trade that opened the door for China in the first place. And globalists have never complained when Beijing continually ignores its World Trade Organization (WTO) commitments to open, reciprocal trade.

    So, what of the tariffs that the president is now imposing? To listen to cable news commentators, one would think the sky is falling. The president’s critics continually tout dire economic warnings — even though all evidence shows the tariffs applied in 2018 on steel, aluminum and other goods have boosted U.S. manufacturing and created domestic jobs.

    A widely circulated paper by Trade Partnership Worldwide warned that steel and aluminum tariffs would cost as many as 470,000 U.S. jobs. Instead, U.S. manufacturing employment has increased since then and now exceeds 12.8 million jobs — the highest level since the Great Recession.

    In the immediate wake of the tariffs, third-quarter GDP grew at an impressive 3.5 percent in 2018. Inflation remains low, too, demonstrating that consumers aren’t seeing predicted price increases.

    It’s doubtful that President Trump undertook the new tariffs lightly. In fact, he delayed them in January — to give Beijing more time to negotiate in good faith. But after many months of talks and the formulation of a 150-page draft agreement, Beijing did an about-face.

    China’s leaders simply reneged on an initial commitment to start opening their markets and to halt such aggressive practices as IP theft, hacking and forced technology transfer.

    That’s what finally forced President Trump’s hand. He is continuing tariffs on $50 billion worth of Chinese imports while also raising tariffs to 25 percent on another $200 billion worth of goods. Half of China’s imports to the U.S. are now covered by the tariffs.

    This is strong medicine. But it’s necessary in the face of Beijing’s intransigence and the ongoing erosion of key national industries. The United States must begin to decouple from China. And as the 2018 tariffs have demonstrated, the benefits outweigh the costs.

    The Coalition for a Prosperous America (CPA) recently conducted research that examined the possibility of a 25-percent across-the-board tariff on all Chinese imports. That’s more than just the half of all imports currently facing tariffs.

    They found that such a move would add more than 700,000 U.S. jobs over five years, with GDP increasing by an additional $125 billion. And much of that growth would come in the manufacturing sector — including almost 200,000 new factory jobs.

    Under such conditions, portions of U.S. production would finally return from China. And segments of China’s industrial capacity would also shift to lower-cost third countries — helping to reduce prices for U.S. consumers.

    Overall, an across-the-board tariff could mean as much as $69 billion worth of production returning to the United States each year by 2024.

    There’s a growing conviction that economic integration with China was a mistake. Our nation’s leaders assumed that the United States would gain access to China’s vast population, and U.S. companies would export more goods to China’s consumers. They believed that Beijing would become more open and democratic. But none of that happened.

    Instead, China has used predatory trade to capture the U.S. market and fund its military and economic rise. And it has become a more authoritarian surveillance state, with President Xi now spreading China’s model regionally and globally.

    President Trump’s move to decouple from China is a necessary step to insulate the United States from further economic aggression. And it’s a needed effort, if the U.S. is to integrate with more friendly countries while creating good-paying jobs and prosperity at home.


    Dan DiMicco is the former CEO and chairman of Nucor steel company. He served as a trade adviser to Donald Trump during the 2016 presidential campaign and is currently chairman of the Coalition for a Prosperous America (CPA).

    https://thehill.com/opinion/finance/...must-finish-it
    ”The trouble with socialism is that you eventually run out of other people's money.” - Margaret Thatcher

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    ‘‘Tis true. Few realize how badly we were getting hosed by the chicoms.
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

    George Orwell



    Police dog 1, bad guy nothin':

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    We are the people getting hosed.
    We pay for all the tariffs as the costs are passed to the final consumer.
    When U. S. Corporations see the price of imports going up,
    they raise prices on comparable items and reap unearned profits.

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    And for every winner there are losers.
    I remember when this all started, I think it was Millwright) said how much his costs had gone up even with the American companies
    Plato once said, “Wise men speak because they have something to say. Fools, because they have to say something.”

    "Fere libenter homines id quod volunt credunt." "Men willingly believe what they wish to believe."
    Julius Caesar

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    Quote Originally Posted by Davy Crockett View Post
    And for every winner there are losers.
    I remember when this all started, I think it was Millwright) said how much his costs had gone up even with the American companies
    That's the point. It costs money to make quality, and it costs money to make it in America. If all you want is walmart quality, then the course we were on was fine. Cheap shit at cheap prices.
    As long as you plan to throw it away next week and buy another its a great plan. If you want good stuff it'll need yo be made somewhere other than china.
    Personally I'd rather pay more for a quality product that will last. And I'd prefer to pay American salaries to do it.
    Europe used to have empires. They were run by emperors.
    Then we had kingdoms. They were run by kings.
    Now we have countries...

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    Sorry, Merovingian, but that's not my point.

    I believe Millwright's experience, for example, was that domestic producers were raising their prices too and they weren't getting tariffed.

    Also, I don't have the info at my fingertips, but I'm guessing there will not be as much re-investment in efficiencies as there should be but lots of executive bonuses, stock buy backs and other useless things for American workers.

    If there are investments, it may go to automation lowering need for the good old American worker.

    Tariffs distort markets and prop up things that shouldn't be propped up.

    You're either a capitalist or you're not
    Plato once said, “Wise men speak because they have something to say. Fools, because they have to say something.”

    "Fere libenter homines id quod volunt credunt." "Men willingly believe what they wish to believe."
    Julius Caesar

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    Quote Originally Posted by Davy Crockett View Post
    Sorry, Merovingian, but that's not my point.

    I believe Millwright's experience, for example, was that domestic producers were raising their prices too and they weren't getting tariffed.

    Also, I don't have the info at my fingertips, but I'm guessing there will not be as much re-investment in efficiencies as there should be but lots of executive bonuses, stock buy backs and other useless things for American workers.

    If there are investments, it may go to automation lowering need for the good old American worker.

    Tariffs distort markets and prop up things that shouldn't be propped up.

    You're either a capitalist or you're not
    So you are willing to live on a bowl of rice a day and walk 7 miles to your work?

    Communist crapholes also distort markets and drive living standards down that shouldn't need to go down.

    Applied fairly, Tariffs provide a level playing field.

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    Not much of a laissez-faire guy, eh, Pat?
    Plato once said, “Wise men speak because they have something to say. Fools, because they have to say something.”

    "Fere libenter homines id quod volunt credunt." "Men willingly believe what they wish to believe."
    Julius Caesar

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    Default China's Great Wall of Deception: How The Emperors Got Their Money

    China's Great Wall of Deception: How The Emperors Got Their Money

    by Tyler Durden

    Tue, 06/11/2019 - 17:45





    Submitted by Peter Pham, Managing Director of One Road Research, first part of a two-part special report on the Perestroika Deception.

    Take a moment to consider that for the past 75 years, nearly all conflicts around the world fundamentally stem from the US, Russia and China. From the fall of the Berlin Wall to the tragedy of Tienanmen square, we were all lead to believe that Gorbachev had helped usher in reforms that have changed the world.
    As Russia and China ramp-up their relations, we see that what was once old, is new again. This is part of a subversive strategy developed by the world’s largest intelligence state - Russia... Now headed by former intelligence officer Vladimir Putin.

    The Soviet Perestroika
    The USSR’s perestroika plan or “restructuring” eased previous restrictions and allowed market-based trade. All to make socialism work more effectively for its citizens. Yet perestroika is widely considered to be the death knell of the Iron Curtain, as it increased the political, social, and economic tensions that were plaguing the communist nation.
    What if we were all deceived by a subversive attempt by the players in this Great Wall of Deception to be complacent economically, socially and politically?
    The Soviet-inspired perestroika system lives today.
    Liberalization False Flags
    While in power, Deng Xiaoping ushered in a series of reforms, leading to the One Country, Two Systems theory. This leaned heavily on the steps of the Asian Capital Development model, and state-sponsored capitalism was born. China gained Western sympathies by restructuring in exchange for global access and lifted sanctions.
    With ACD, China grew its economy and rebalanced the global economic power in their favor by systematically outflanking western perceptions and priorities for its own benefit.

    How is this achieved?
    By taking advantage of the world's strong shift towards globalism, China transformed...
    And grew their manufacturing base to become an export powerhouse for the large Western consumer base. This is the root cause of the global economic war today.
    But when you look at China now, with all the authoritarian actions — the restrictions of rights and information, unfair economic practices, the rising inequality, and state-sponsored "gulags" — something becomes very clear...
    It was never possible for China to incorporate capitalism as the west understands it. Nor was it ever intended. It's something new altogether...A Great Wall of Deception.
    The Emperor Has No Money
    China's Open Door Policy allowed foreign investment into China via special economic zones, which were free of many bureaucratic regulations. Areas such as Shanghai, Shenzhen, and Guangdong became large engines of growth for the national economy.
    Many in the west embraced these developments with open arms.
    Today, through various global and peace-oriented initiatives, the West has been deceived into favoring a form of a global 'perestroika' as the vessel for global prosperity.
    For decades, governments such as China, Vietnam, and former Eastern Bloc nations have utilized state sponsored capitalism, providing the impression of liberalization and decentralization.
    Since World War II, the United States has cut import tariffs considerably. Since 1970, the US tariff rate has stayed below 10%, and decreased further in the subsequent years. This encouraged globalization, but also allowed others to game the system to their advantage.

    China took further advantage by joining globalization initiatives such at the WTO. By playing within the system, these actions legitimize autocratic nations such as China in the eyes of the West. In China, FDI investment and the Shanghai index witnessed dramatic jumps following liberalization announcements in the PRC.

    Perestroika initiatives uplifted former Eastern Bloc countries as well, as these former communist nations sought to reenter the global economy. FDI inflow for Eastern Bloc countries also ramped-up significantly across all former Soviet-influenced nations from the very start of the USSR collapse.
    These are all part of the Great Wall of Deception, and have been granted the boons of open trade, increased FDI, and large economic growth for the small price of attempts at market liberalizations.
    The Foundation of the Trade War
    The problems occur when the participating nations abuse the system already in place. China’s brazen manipulation of the system and the one-sided trade is what laid the foundation of the current US-China Trade War, as increased tariffs and sanctions are ideal ways to balance the playing field.

    Other issues arise from this new paradigm. As these states become more prosperous, they begin to increasingly misallocate funds, all in the attempt to look out for the central state rather than the companies.
    In my next message, we’ll be going further into this idea, exploring how developing nations seek to use the current world system to their advantage and the investing strategies the reader needs to implement in this New World Order. And with that, I leave you with one of my favorite clips: Dostoevsky's Grand Inquisitor from the Brothers Karamazov :


    https://www.zerohedge.com/news/2019-...ot-their-money
    Europe used to have empires. They were run by emperors.
    Then we had kingdoms. They were run by kings.
    Now we have countries...

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    Quote Originally Posted by Davy Crockett View Post
    Not much of a laissez-faire guy, eh, Pat?
    On the contrary, so long as laissez-faire isn't applied globally.

    Funny, I never pictured you as a Globalist.

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