politics

Sino-U.S. trade war won't trigger economic crisis, Aso says

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Smart Aso. Tax hike is preemptive measure. When coupled with possible tariff war, no one can sell anything to Japanese people.

1 ( +2 / -1 )

Japanese Finance Minister Taro Aso said on Tuesday the Sino-U.S. trade war would not immediately trigger an economic shock on the scale of the “Lehman shock”, though the friction between the world’s two largest economies is unlikely to be resolved easily.

Key word, "immediately". Aso is giving him and Abe an out to stop implementation of the tax hike scheduled for later this year.

Abe has said repeatedly that the only thing that would stop the hike is a "Lehman Shock" level incident, and this trade war could very well have the same effect on the world's economy if it drags itself out.

2 ( +3 / -1 )

Report this morning says Trump is trying to get the Feds to commence a currency war as well (if China went down that path). If Mr Aso thinks a currency war won't have 'immediate' effect on Japan's economy, he shouldn't be in charge IMO.

Despite Trump calling it just a deal, negotiation, just a bit of friction, his actions looks more like a full massing of tanks on China's lawn, and the Chinese are getting their tank piercing shells prepped up as well. It's going to be a bloodbath if one of them doesn't retreat.

-4 ( +0 / -4 )

I don't believe ANYTHING this buffoon says

-1 ( +1 / -2 )

Of course it won't; it will help Japan's economy.

-1 ( +0 / -1 )

The US has done this to Japan when Japan’s GDP was approaching 70% of the US’. Now it is doing the same thing to China.

The main task of China in this trade war is to keep growing in the same speed like the last 5 years, or faster.

At the end of 2018, China’s GDP will be about 14.5 T USD (put the revaluation of RMB into consideration, while the US’ will be about 20 T. 14.5/20=72.5%. That is why the trade war is happening in this year. 70% is a number that the US is very sensitive about.

China not backing down with more tariffs deadlines scheduled means crisis on the brink. Who in their right mind would say Japan is impervious to this trade war?

3 ( +3 / -0 )

There is now talk of Trump targeting Japanese car imports with higher tariffs. Couple this with the saber rattling against Iran, one can only assume that the tariff hike with higher crude prices could really put a dent into whatever growth Abe and Aso have been spouting.

0 ( +0 / -0 )

We are in the calm before the storm. The excrement is about to hit the fan! Next Trump is going to hit Japan with tariffs! The Americans are not Japan's friends.

-1 ( +0 / -1 )

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