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© Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.China struggles to curb reliance on U.S. market, suppliers
By JOE McDONALD BEIJING©2024 GPlusMedia Inc.
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SaikoPhysco
I say slap a 50% tariff on all Chinese goods being imported to the USA. The Chinese keep fighting back even though they import far less than they export to the USA. A 50% tariff could implode the Chinese economy.... let them eat those apples.
theFu
USA should not forget that China is becoming a dictatorship now that Winnie the Pooh is specifically listed in more and more legal documents.
They are:
Single political party (is it voting when there is 1 choice?)
Do not allow free speech or a free press
Do not allow freedom of expression
Do not allow freedom of travel
Do not allow criticism of the state or political leaders
Have constant, mandated, personal tracking of internet and travel
Police who are allowed to act like bullies without any repercussions
Constantly trying to steal govt and corporate secrets
Impede freedom of navigation in international waters
Currency manipulatorsMy mother's farm grows soybeans, BTW.
Matt Hartwell
You realize that China is a $12-$13 trillion dollar economy and exports to the U.S represent just $500 billion of that? China's domestic market is infinitely more important than its exports now.
Current Chinese growth rates are 6.7% YoY. Worse case scenario for China with U.S imposing tariffs on the full $500 billion suggests little change this year, but next year a possible hit of 1.2%. Meaning Chinese growth is still going to be well about 5% YoY. Double the vast majority of the Western world.
The Chinese economy will not implode due to Trumps tariffs, not even remotely close.
Although I still think they need to be imposed because its about creating long term change to supply chains that U.S companies can lead the way on.
Matt Hartwell
When it comes to trade, which this article is about, one of the biggest problems now going forward is China's new intelligence law.
https://www.scmp.com/news/asia/australasia/article/2161522/australias-new-foreign-minister-marise-payne-supports-blocking
"The national intelligence law requires all organisations and citizens to assist the country’s spy network."
That is extremely damaging to Chinese business interests in the West. Like taking a shotgun to the foot tbh..
Serrano
"The biggest jolt so far came from Beijing's cancellation of orders for soybeans, the biggest American export to China at $21 billion last year. That hammered farm states that voted for Trump in the 2016 election. It also pushed up prices for Chinese farmers that use soybeans for animal feed and food processors that crush them for cooking oil."
So the Chinese hurt their own farmers by not agreeing to a more fair trade deal and forcing Trump to play hardball and then making the mistake of tit-for-tat retaliations. Way to go, China.