politics

Trade war clouds outlook as finance chiefs meet in Fukuoka

13 Comments
By ELAINE KURTENBACH

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13 Comments
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finally America standing up for itself after being taken advantage of for decades.

1 ( +6 / -5 )

Its only a "trade war" when the U.S. takes action to protect itself.

When the EU, Japan, Korea, and China protect their own markets through tariffs and other market entry barriers, those actions are not considered a "trade war".

4 ( +6 / -2 )

China's rapid growth has a lot to do with development of internet in the world.  Underdeveloped countries can become developed countires overnight. Technologies and knowledges spread to the world instantly hand in hand with globalism - world wide circulation of money. In the past, a large population was a symbol of poverty but today it means they can produce things cheaper and can sell their products advantageously to the world.

1 ( +3 / -2 )

China's rapid growth has a lot to do with development of internet in the world.

It has more to do with preferred trading partner status with the US, and all the investment money that the US and other countries have poured into the country.

Even the nuclear weapons China uses to protect itself were a gift from Stalin. Seriously, a gift.

In fact the only thing China seems to have come up with on its own in the past hundred years is communism with Chinese characteristics.

2 ( +4 / -2 )

Simply message, exporter countries must change. America is getting angry and does not want to buy things from you any longer. Is it more complicated than that? Sure it is but that's not the point.

-1 ( +0 / -1 )

American companies made a lot of money in China. Now, they are understanding old style of exploitations in  underdeveloped countries do not work.

1 ( +2 / -1 )

There are two policemen both blowing whistles. Why? What does the whistle signify? Stop? Drive? I have no idea. All I know is that it's very annoying! (Drivers aren't blind, right? Why do they need to listen to whistles? Why does every one else have to suffer the noise too?)

1 ( +1 / -0 )

American companies made a lot of money in China. 

Who said they didn’t?

Now, they are understanding old style of exploitations in underdeveloped countries do not work.

And yet China has yet to learn this.

1 ( +1 / -0 )

Schopenhauer is right. The internet has finally enabled the wealth of the world to be spread more evenly. The days of westerners vacationing in Asian countries and living like kings on a truck driver's pension are fast disappearing. Funny how people in the west often talked about how they should help the poor people of Asia. Now that they are helping themselves, and taking a piece of the pie that the West has dominated for so long, people are upset and scared.

But China can't depend on cheap manufacturing any longer. With AI, robots, 3d printing, and plenty of countries with even cheaper labor, manufacturing jobs are a dead end. They need to develop technology. Stealing will only get a country so far. To take the lead, they need to develop. I suspect the Chinese government and their oppressive state apparatus will become a hindrance to this. Plenty of creative Chinese people - without a doubt many more than in the US. But the environment is not conducive to creativity under the current leadership's direction.

-2 ( +0 / -2 )

There are two policemen both blowing whistles. Why? 

They clearly love their whistles. Don't take away their whistles.

0 ( +0 / -0 )

@Comanteer  

taking a piece of the pie that the West has dominated for so long, people are upset and scared.

You mean "stealing a piece of the pie." Forced technology transfer is a real thing, and for too long, the West ignored it.

2 ( +2 / -0 )

At the end of the day, this trade war is a great thing. Instead of complaining about the ramifications of an ongoing trade war, people should look at the benefits. If markets keep sliding, it means we can purchase investments at a discount, when things level back out, we can come out on top.

At the end of the day, this trade war affects all countries because you are talking about the world's biggest spender and the world's biggest producer. When so many markets have so much invested in both economies, it will drag down all others with it.

The world is too reliant on the spending and production from both countries.

@Dango

America was never taken advantage of. The only people that took advantage of America is Americans. Corporations and billionaires are what has bled America dry. Also, America wanted to be center stage and the world leader. That is why they put themselves in this position and kept giving to so many countries because it wanted the world to be reliant upon the Dollar and America.

2 ( +2 / -0 )

Forced technology transfer is a real thing, and for too long, the West ignored it.

Yes, and whose fault is that? China is not alone in playing dirty tricks to catch up. The US has quite a track record itself.

But that's still just a minor part of the picture. You have 2 countries of over a billion people each entering a global economy they were basically left out of. That's going to change things, and that's going to happen no matter what trade deal Trump works out. The problem in the US is that most people there take it for granted that they should have the biggest piece of pie, the world's reserve currency, the right to tell other countries how they can do business. That's all ending, and Americans will tragically be the last ones to see it.

0 ( +0 / -0 )

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