Jura The idiot
General
now I read
China's trade surplus reaches 191.5 bln yuan in July
Xinhua| 2019-08-31 13:19:19
China's trade surplus reaches 191.5 bln yuan in July
Xinhua| 2019-08-31 13:19:19
Apr 13, 2018
Chinese Economics Thread
- Thread starter Norfolk
- Start date
AssassinsMace
Lieutenant General
I thought US companies were leaving China in droves...
The fact is if they're in China, it cheapest place to produce their products. They'll either pay the tariff or they'll have to open a factory in the US that makes their products for only the US market. They're not going to sell those Made in the USA products overseas because they'll make less money due to narrowing profit margins.
The fact is if they're in China, it cheapest place to produce their products. They'll either pay the tariff or they'll have to open a factory in the US that makes their products for only the US market. They're not going to sell those Made in the USA products overseas because they'll make less money due to narrowing profit margins.
They make it in China because they also sell these products in China.
Even if products are going to be end stage assembled in countries like India, Vietnam and the Philippines, components and subassemblies are still being built in China and shipped to the final assembly plants.
The Chinese government is no longer courting this China cheap source of labor to make your good for foreign firms. The vast majority of China's GDP is now by Chinese firms and Chinese people themselves, not by foreign companies. If foreign companies wants a place for cheap, slave labor, go somewhere else. China is moving up the value chain and cheap labor factories are in the way of this dream. China's own changing demographics may also lead to a gradual reduction of labor reserve, which has to be made up by increasing productivity per worker via AI and robotics. China is not threatened by unemployment in the long run but the opposite, the shortage of labor caused by an aging demographic. That's also the problem of the US which is why it needs immigration and without it, it will go into a Japan like aging and decline of the state.
Even if products are going to be end stage assembled in countries like India, Vietnam and the Philippines, components and subassemblies are still being built in China and shipped to the final assembly plants.
The Chinese government is no longer courting this China cheap source of labor to make your good for foreign firms. The vast majority of China's GDP is now by Chinese firms and Chinese people themselves, not by foreign companies. If foreign companies wants a place for cheap, slave labor, go somewhere else. China is moving up the value chain and cheap labor factories are in the way of this dream. China's own changing demographics may also lead to a gradual reduction of labor reserve, which has to be made up by increasing productivity per worker via AI and robotics. China is not threatened by unemployment in the long run but the opposite, the shortage of labor caused by an aging demographic. That's also the problem of the US which is why it needs immigration and without it, it will go into a Japan like aging and decline of the state.
Jura The idiot
General
BBC article, see below. Apparently US tariffs on PRC could cost its economy 5% growth (potentially, lol), versus 1% of US growth. Even though the US is dominated by consumer consumption, and US imports account for 3% of the PRC's economy, interesting. Either way, more friction, and less upside for the global economy, yay!
The US has imposed fresh tariffs on $112bn (£92bn) of Chinese imported goods such as shoes, nappies and food.
The new tariffs are a sharp escalation in the bruising trade war, and could cost households $800 a year.
The move is the first phase of US President Donald Trump's latest plan to place 15% duties on $300bn of Chinese imports by the end of the year.
In response, Beijing introduced tariffs on US crude oil, the first time fuel has been targeted.
If fully imposed, Mr Trump's programme would mean that nearly all Chinese imports - worth about $550bn - would be subject to punitive tariffs.
What was initially a dispute over China's allegedly unfair trade practices is increasingly seen as a geopolitical power struggle.
So far, Washington has imposed tariffs on some $250bn of Chinese goods to pressure Beijing into changing its policies on intellectual property, industrial subsidies, market access, and the forced transfers of technology to Chinese firms.
Beijing has consistently denied that it engages in unfair trade practices, and has retaliated with tariffs on $110bn of US products.
How do they differ from previous tariffs?
Katie Prescott, BBC Business Reporter
It's the American consumer who will bear the brunt of these fresh tariffs, unlike previous rounds which have hit the manufacturing sector hardest.
Nappies, dishwashers, shoes, clothes, food - looking through , it's hard to find something that's not on there.
Many retailers say they have little choice but to pass on the cost to shoppers.
The president of the American Apparel and Footwear Association, Rick Helfenbein, describes the tariffs as like "punishing your daughter for something your son did. It makes no sense".
The next round of tariffs on more clothes and big-ticket items like laptops and iPhones are due in December. Donald Trump says this will help to protect spending during the Christmas season.
By the end of the year, they'll be in place on almost all of the $550bn of goods that the US buys every year from China.
And that could add up to $800 to the average household's annual spend, according to Katheryn Russ from the University of California.
How has industry reacted?
Businesses are finding it increasingly hard to navigate the uncertainty of the long-running trade dispute.
Analysts say that in view of the latest escalation, the prospect of a resolution looks grim.
"It's difficult at this stage to see how there can be a deal or at least a good deal," Julian Evans-Pritchard, a senior China economist at Capital Economics, told the BBC.
"Since talks broke down back in May, the position of both sides has hardened and there have been other complications, namely the Huawei ban and Hong Kong protests, which have made it even more difficult to bridge the gap."
, while President Trump
What is expected on 1 September?
The
The first round of duties comes into force from 1 September and analysts expect those tariffs will target imports worth about $150bn.
Image copyrightGETTY IMAGES
The Office of the United States Trade Representative would not clarify the value of goods due to be hit with tariffs this month.
range from meat and cheese to pens and footwear.
and was announced last week as tensions between the two sides escalated.
China has retaliated with a 5% levy on crude oil, along with measures targeting $75bn of US goods.
The measures included extra tariffs of 5% and 10% on nearly 1,717 targeted products.
Mr Trump has repeatedly argued that China pays for tariffs, but many US companies have rebutted that claim.
More than 200 footwear firms - including Nike and Converse - said the new duties would add to existing tariffs of up to 67% on some shoes, driving up costs for consumers by $4bn each year.
They said the incoming tariffs on footwear would "also mean these massive tax increases hit tens of millions of Americans when they purchase shoes during the holiday season".
The American Chamber of Commerce in China also voiced concerns after the .
"Our members have long been clear that tariffs are paid by consumers and harm business," .
"We urge... that both sides work towards a sustainable agreement as soon as possible that resolves the fundamental, structural issues foreign businesses have long faced in China."
What's next?
President Trump has said that trade teams from the US and China are continuing to talk and will meet in September, but further details have not been publicly confirmed.
From 15 December, the second phase of 15% tariffs will be rolled out on the remainder of Chinese good not previously affected.
This includes technology like phones and computers which President Trump has sought to protect until now.
On the same date, China will roll out tariffs on around 3,000 more US products.
The Trump administration plans, in addition, to raise the rates on existing duties from 25% to 30% on 1 October.
Mr Evans-Pritchard from Capital Economics said this rate could increase further still.
"The tariff rate could go all the way up to 45%," he said. "Those are the goods that do the most damage to China and the least collateral damage to the US."
For the US and Chinese economies, analysts say the pressure created by tariffs is also building.
"The full-blown trade war, together with China's retaliation in kind, could reduce potential US GDP growth in the short run by almost 1%," says Gary Hufbauer of the Washington-based Peterson Institute for International Economics.
"The impact on China would be larger, as much as 5%."
The USTR said that, until 20 September, it would be collecting public comments on the planned tariff increases to 30%.
The US has imposed fresh tariffs on $112bn (£92bn) of Chinese imported goods such as shoes, nappies and food.
The new tariffs are a sharp escalation in the bruising trade war, and could cost households $800 a year.
The move is the first phase of US President Donald Trump's latest plan to place 15% duties on $300bn of Chinese imports by the end of the year.
In response, Beijing introduced tariffs on US crude oil, the first time fuel has been targeted.
If fully imposed, Mr Trump's programme would mean that nearly all Chinese imports - worth about $550bn - would be subject to punitive tariffs.
What was initially a dispute over China's allegedly unfair trade practices is increasingly seen as a geopolitical power struggle.
So far, Washington has imposed tariffs on some $250bn of Chinese goods to pressure Beijing into changing its policies on intellectual property, industrial subsidies, market access, and the forced transfers of technology to Chinese firms.
Beijing has consistently denied that it engages in unfair trade practices, and has retaliated with tariffs on $110bn of US products.
How do they differ from previous tariffs?
Katie Prescott, BBC Business Reporter
It's the American consumer who will bear the brunt of these fresh tariffs, unlike previous rounds which have hit the manufacturing sector hardest.
Nappies, dishwashers, shoes, clothes, food - looking through , it's hard to find something that's not on there.
Many retailers say they have little choice but to pass on the cost to shoppers.
The president of the American Apparel and Footwear Association, Rick Helfenbein, describes the tariffs as like "punishing your daughter for something your son did. It makes no sense".
The next round of tariffs on more clothes and big-ticket items like laptops and iPhones are due in December. Donald Trump says this will help to protect spending during the Christmas season.
By the end of the year, they'll be in place on almost all of the $550bn of goods that the US buys every year from China.
And that could add up to $800 to the average household's annual spend, according to Katheryn Russ from the University of California.
How has industry reacted?
Businesses are finding it increasingly hard to navigate the uncertainty of the long-running trade dispute.
Analysts say that in view of the latest escalation, the prospect of a resolution looks grim.
"It's difficult at this stage to see how there can be a deal or at least a good deal," Julian Evans-Pritchard, a senior China economist at Capital Economics, told the BBC.
"Since talks broke down back in May, the position of both sides has hardened and there have been other complications, namely the Huawei ban and Hong Kong protests, which have made it even more difficult to bridge the gap."
, while President Trump
What is expected on 1 September?
The
The first round of duties comes into force from 1 September and analysts expect those tariffs will target imports worth about $150bn.
Image copyrightGETTY IMAGES
The Office of the United States Trade Representative would not clarify the value of goods due to be hit with tariffs this month.
range from meat and cheese to pens and footwear.
and was announced last week as tensions between the two sides escalated.
China has retaliated with a 5% levy on crude oil, along with measures targeting $75bn of US goods.
The measures included extra tariffs of 5% and 10% on nearly 1,717 targeted products.
Mr Trump has repeatedly argued that China pays for tariffs, but many US companies have rebutted that claim.
More than 200 footwear firms - including Nike and Converse - said the new duties would add to existing tariffs of up to 67% on some shoes, driving up costs for consumers by $4bn each year.
They said the incoming tariffs on footwear would "also mean these massive tax increases hit tens of millions of Americans when they purchase shoes during the holiday season".
The American Chamber of Commerce in China also voiced concerns after the .
"Our members have long been clear that tariffs are paid by consumers and harm business," .
"We urge... that both sides work towards a sustainable agreement as soon as possible that resolves the fundamental, structural issues foreign businesses have long faced in China."
What's next?
President Trump has said that trade teams from the US and China are continuing to talk and will meet in September, but further details have not been publicly confirmed.
From 15 December, the second phase of 15% tariffs will be rolled out on the remainder of Chinese good not previously affected.
This includes technology like phones and computers which President Trump has sought to protect until now.
On the same date, China will roll out tariffs on around 3,000 more US products.
The Trump administration plans, in addition, to raise the rates on existing duties from 25% to 30% on 1 October.
Mr Evans-Pritchard from Capital Economics said this rate could increase further still.
"The tariff rate could go all the way up to 45%," he said. "Those are the goods that do the most damage to China and the least collateral damage to the US."
For the US and Chinese economies, analysts say the pressure created by tariffs is also building.
"The full-blown trade war, together with China's retaliation in kind, could reduce potential US GDP growth in the short run by almost 1%," says Gary Hufbauer of the Washington-based Peterson Institute for International Economics.
"The impact on China would be larger, as much as 5%."
The USTR said that, until 20 September, it would be collecting public comments on the planned tariff increases to 30%.
AssassinsMace
Lieutenant General
Jura The idiot
General
interestingly,
US fentanyl seizures show China is not the main supplier, Beijing drugs official says
US fentanyl seizures show China is not the main supplier, Beijing drugs official says
- China has made efforts to curb flow of the opioid, vice-commissioner of anti-drugs body says
- Liu Yuejin adds that the issue is ‘totally irrelevant’ to trade talks
Hendrik_2000
Lieutenant General
The trump administration keep leveling bogus accusation to China hoping some of them will stick The worst is fentanyl charges But the proof say otherwise
Anyway Huawei win more contract to supply 5 G network gear
Huawei Is Building Nearly Two-Thirds of World's 5G Base Stations, Executive Says
(Yicai Global) Sept. 3 -- Huawei Technologies has now secured more than 50 commercial contracts worldwide for fifth-generation mobile networks, and almost two-thirds of the world's 5G base stations are built by the company, according to a senior executive.
Twenty-eight of the commercial deals were in Europe, 11 in the Middle East, six in the Asia-Pacific region, four in the Americas and one in Africa, Xu Wenwei, director of Huawei's Institute of Strategic Research, said today at the Huawei Asia-Pacific Innovation Day. The firm also expects to deploy 65 million 5G base stations globally by 2025, serving 2.8 billion users.
At the conference, Shenzhen-based Huawei, in conjunction with operators and industrial partners, showcased various industrial applications, including 5G+Virtual Reality, 5G+8K video, 5G+drone, 5G telemedicine and 5G ambulance.
The Asia-Pacific region currently leads the world in 5G deployment. South Korea, the world's first country to apply the technology on a commercial scale, has more than 2 million 5G subscribers since it unveiled 5G phone numbers at the start of April. China is building a 5G network, with major operators setting up networks in large cities, including Beijing, Shanghai, Guangzhou, Shenzhen and Chengdu.
Editor: Chen Juan
Anyway Huawei win more contract to supply 5 G network gear
Huawei Is Building Nearly Two-Thirds of World's 5G Base Stations, Executive Says
(Yicai Global) Sept. 3 -- Huawei Technologies has now secured more than 50 commercial contracts worldwide for fifth-generation mobile networks, and almost two-thirds of the world's 5G base stations are built by the company, according to a senior executive.
Twenty-eight of the commercial deals were in Europe, 11 in the Middle East, six in the Asia-Pacific region, four in the Americas and one in Africa, Xu Wenwei, director of Huawei's Institute of Strategic Research, said today at the Huawei Asia-Pacific Innovation Day. The firm also expects to deploy 65 million 5G base stations globally by 2025, serving 2.8 billion users.
At the conference, Shenzhen-based Huawei, in conjunction with operators and industrial partners, showcased various industrial applications, including 5G+Virtual Reality, 5G+8K video, 5G+drone, 5G telemedicine and 5G ambulance.
The Asia-Pacific region currently leads the world in 5G deployment. South Korea, the world's first country to apply the technology on a commercial scale, has more than 2 million 5G subscribers since it unveiled 5G phone numbers at the start of April. China is building a 5G network, with major operators setting up networks in large cities, including Beijing, Shanghai, Guangzhou, Shenzhen and Chengdu.
Editor: Chen Juan
Jura The idiot
General
AssassinsMace
Lieutenant General
I saw something on TV this morning that said even though Trump's trade war is hurting the US far more than Trump plays it down both Democrats and Republicans are supporting Trump taking on China. Who knows what the truth is because I'm sure the Democrats know the worse Trump handles the economy the better it is for them to win the White House. But be sure because the US is going to take a hit internationally all because of Trump, the Democrats will want to punish China to save face. Its like after the Iraq War where the EU was said to be harder on dealing with China out of spite because China didn't get it wrong on Iraq unlike them. Or how all these US economists predicted that with greater prosperity, China would move towards greater political freedom. Since it hasn't happened, they act like China lied to them and broke a promise and they want to see China punished because they got their prediction wrong. Look at the Democrats nominees for President. Most of them have difficulty trying exploit Trump's trade missteps but they also can't look like they're siding with China in the trade war. So they're claiming they will drop tariffs on China but they will get allies together unlike Trump to gang up on China. They found out attacking China on trade ultimately punishes the US also but they still want to punish China anyway. And what does it mean when they want to gang up allies against China when they'll drop tariffs? They just want to spread the pain to allies so it's not all concentrated on the US. That's to make sure allies can't find safety by doing nothing to China. It's like what I mentioned about Trump trying to form an alliance with Brazil. Success for Trump only means Brazil loses China as a customer while the US gains it back.
Since Trump is measuring how successful his trade war with China is by how much China is suffering, China should consider making sure the US economy suffers because the fact is all of China's troubles with its neighbors are all because they think the US is supporting them and that is ultimately because of the US's economic power in the world. The US has engineered their dependency on the US to make sure they stay in line and that is built on the understanding that they prosper from the US. Eliminate that prosperity and most of China's annoyances will be walking on egg shells. Just like they don't dare criticize the US they won't dare offend China because they need to make money off of someone since the US economic power has been fractured.