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Small victories: Chinese back off on tariff vow

16 Avril 2018

The latest readings on the health of China's trade sector are unlikely to ease tensions following weeks of tit-for-tat tariff threats by Washington and Beijing, though they suggest China's economy is still in relatively solid shape. Meanwhile, Mr. Trump's strategy appears to be making progress.

China's President Xi Jinping reviewed the Chinese People's Liberation Army (PLA) Navy in the South China Sea last week, saying that the need to build a strong navy "has never been more urgent than today".

Hua said China believes a comprehensive, impartial and objective investigation should be carried out to reach a reliable conclusion that could stand the test of time. "The trend of peace and cooperation is moving forward and a Cold War mentality and zero-sum game are outdated". With the theme of "An Open and Innovative Asia for a World of Greater Prosperity", Li Jinyuan, chairman of Tiens Group was invited to participate in the Forum, where Li stated that as the global economy has its eyes on China, and China eyes on the world as well.

The survey was conducted by the 1.3 million-member senior advocacy organization, the Association of Mature American Citizens.

The most severe issue developed in 2005. "We put a $50 billion tariff on, and then we put $100 billion tariff on". China has a billion people. They have disrespected International Patent Laws. "And they are engaged in a systematic reprogramming of American perceptions of communism via media and educational propaganda".

Add this theft to China's $500 billion-dollar trade surplus with the USA, and it becomes clear that the predatory Chinese state and its operatives are making off with over a trillion dollars a year.

The world's second largest economy is expected to have grown 6.7 per cent from January to March, down from 6.8 per cent in the fourth quarter of past year, according to the poll of 13 economists ahead of the release of official figures tomorrow.

On the USA side, the tariffs will hurt, industry experts say. But, that's not all.

China's global trade balance swung to a rare deficit last month as exports shrank, but its surplus with the U.S., the center of a worsening dispute with Washington, stood at US$15.4 billion.

President Trump says this is an untenable position to be in and, unlike, his predecessors, he is proposing to do something about it.

In an annual report on China's military power released in 2017, the U.S. Defense Department noted that the Chinese military considered Taiwan "one of the geographic areas the leadership identifies as endowed with strategic importance".

Non-financial ODI in countries involved in the BRI totaled 14.36 billion US dollars, accounting for 12 percent of the total, up from 8.5 percent in 2016.

Trump is right. We have a half-trillion dollar trade deficit with China. They think they can weather out the effects of these extra tariffs. But, they were standing toe-to-toe to see who will blink first.

Initially, Chinese leaders reacted by saying they would hike tariffs on US goods sold in their country.

President Trump has said he is confident that confronting China will lead to a stronger USA economy, and tried to reassure those who are anxious.

The shift is a response in part to tougher environmental rules China had already imposed on waste imports. China is using what would be akin to pinpoint bombing to take out strategic targets in Republican red states, as it slaps tariffs on Harley-Davidson products and cranberries from House Speaker Paul Ryan's home state, peaches from Georgia, and Kentucky bourbon.

Princeton University economist Alan Blinder agrees. Time will tell whether he actually prevailed. Currently, foreign ownership in Chinese bank or insurance company is limited to 25%, so it is possible to increase this limit.

In 2016, China produced nearly 500,000 scientific papers according to data from global information analytics firm Elsevier, taking the No.2 spot globally and closing in on America's 600,000.

That was the reason Cindat CEO Greg Peng gave when his company announced its first USA healthcare investment in November 2016.

"When you´re $500 billion down, you can´t lose a trade war", he said.

"The political will is articulated in a very powerful way and once it's communicated to each of the bureaucracies lower down I expect very positive things", he said.

Washington lobbyists may prattle on about "free trade" - a theoretical ideal which only exists in the minds of economists -but they are really anxious about their own bottom lines.

"The stuff we're asking for exclusion [for] is on the water".

"We are keen that this investment take place in our country".

China's exports rode a global trade boom previous year, expanding at the fastest pace since 2013 and serving as one of the key drivers behind the economy's forecast-beating 6.9 percent expansion.

Small victories: Chinese back off on tariff vow