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  1. #21
    Senior Member Platinum Poster
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    Default Re: Free Trade or Trade Wars? The problem with Tariffs

    There does not seem to be much interest in this topic, yet it could be that what we are witnessing in the behaviour of the USA toward Turkey and China, is not just the bully extracting favours from states it considers weaker than itself, but the beginning of the end of 'American power'. Just as the President is saturating the USA with an historic and colossal debt, the aim of which will be to offload debts in excess of $10 trillion on the Democrats when they win the Presidency and Congress, so the President is convinced that by smashing to pieces every multinational institution it can find, the USA will emerge stronger than ever before, though it can hardly be richer when it is so deep in debt. But just as in the past he bankrupted business after business and walked away, and while he may not personally be financially liable for the mess, America will be, but the signs are saying the opposite of what he claims. One istempted to argue that the sooner this economic cretin is removed from office the better off the USA might be, if it were not for the fact that the Republican Party is addicted to debt, and doesn't care who has to pay the bill when it is due.

    A key reason is that China in the short term may give here and there, but has its eyes on the longer term, both in terms of regional supremacy -hence the continuous development of once uninhabited islands whose sovereignty in international law is a matter of dispute- and the domestic scene, where the key long term aim is to reduce the need to trade with the USA, and presumably at some point to divest its dollar holdings too. The argument has been made by Henry McVey, head of Global and Asset Allocation for KRR-

    There is a palpable confidence within the Trump administration – and among a vocal circle of China hawks in Washington – that leaders in Beijing will be forced to capitulate to trade demands in short order, due to a fragile economy.

    Such confidence is based on complete ignorance of what is happening in China, others argue, noting that the trade war is only accelerating China’s economic goals.
    That is the opinion of private equity giant KKR, which pointed out on Thursday that Beijing’s plan to transition into a consumer services economy is already well underway, and a trade war plays into this shift, and deepens economic integration in Asia.
    “Overall, we believe that the current trade wars with the United States will only accelerate China’s shift away from an export economy dependent on global trade/flows towards a more self-reliant consumer services economy that is gaining prominence, particularly within Asia,” wrote Henry McVey, head of global macro and asset allocation, as quoted by CNBC.
    http://www.atimes.com/article/trade-...vestments-kkr/

    See also
    http://media.kkr.com/media/media_rel...easeid=1074180



  2. #22
    Senior Member Platinum Poster
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    Default Re: Free Trade or Trade Wars? The problem with Tariffs

    What does the US have to show for nearly two years of tariffs that were supposed to return jobs to the US and re-balance the country's relationship with China to the benefit of the US?
    In effect, the President went down on his knees to kow-tow the President Xi to help him out of the mess he has created. It was not a pretty surrender, but a surrender nonetheless. China 2, USA 0.

    Jobs lost, costs increased, subsidies to compensate. The policy is in shreds. Thousands of exemptions from the tariffs beg the question -why them and not others? Soybean farmers get $12 billion a year, a 'tariff failure tax' that shifts dollars from Americans who work to those who don't -because tariffs killed their jobs. GM lays off 14,000 workers but won't get a subsidy to pay those workers to sweep the floor at the plant and make sandwiches for lunch. The tariffs on steel and aluminium the US doesn't make will remain in place -for now, but the policy is in the shredder and there is no Plan B. You can't expect a failed businessmen who lives on money borrowed from Russia and Arabia to develop a coherent trade policy, just as Steve Mnuchin and Wilbur Ross are too busy spending tax payers money on first class travel to waste their time developing a long term strategy to replace the lunacy of tariffs.

    Did the US ever have so careless an Executive Team?



  3. #23
    Rude Gurl Professional Poster Yvonne183's Avatar
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    Default Re: Free Trade or Trade Wars? The problem with Tariffs

    Starvos needs to get out more, too much time online.


    I'm the girl nobody knows until she commits suicide.
    Then suddenly everyone knew me.

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