Jura The idiot
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now
China rebukes US allegation of China IPR infringement
Updated 2018-07-13 18:34 GMT+8
Trade War with China
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China rebukes US allegation of China IPR infringement
Updated 2018-07-13 18:34 GMT+8
Hendrik_2000
Lieutenant General
So much for "winning trade war is easy" I guess the US consumer has no choice but to keep buying from China . The cost of the next competitor is too high plus it will take decades to replace all the consumer product from China if at all
Meanwhile the cost of trade war is mounting
While the unintended consequent of trade popping up everywhere. first it was Harley Now BMW and Tesla are planning to built plant in China
China trade surplus with US hits record high in June
China's monthly trade surplus with the US hit a record high of nearly $29bn (£22bn) in June as exports to America remained strong.
The figures come a week after the trade war between the two began, with the US imposing tariffs on $34bn of Chinese goods, and China retaliating.
This week, Washington threatened to impose
Analysts expect to see the impact of the tariffs in July's figures.
"We expect the trade numbers for July to disappoint since that's when the first round of US tariffs took effect," said Amy Zhuang, China analyst at Nordea Bank in Singapore.
"Still, we do not expect a plunge because those tariffs only targeted $34bn worth of goods which is fairly small compared to China's total trade", she said.
In the first six months of the year, China's exports to the US rose 13.6% from a year earlier, while imports from the US increased by 11.8%. Its trade surplus with the US over the same period was $133.76bn, up from $117.51bn last year.
As the world's largest exporter, China has threatened retaliatory action against the tariffs and pledged that it would lodge a complaint with the World Trade Organization.
US President Donald Trump had already threatened to impose additional tariffs if China - the world's largest exporter - retaliates.
While China continues to benefit from strong global demand for its goods for now, the rising trade tensions with the US has the potential to hurt both sides.
Amy Zhuang has warned that there could be knock-on effects if the US proceeds with its proposal for a new round of tariffs on $200bn of Chinese goods.
"Not only will Chinese exporters suffer but American consumers as well," she told the BBC.
"Targeting such a large amount of basic consumers will inevitably have an effect on US inflation."
No easy win
Others say the latest data shows how difficult it will be for the US to win the trade war, arguing that Americans want to buy Chinese-made products.
David Kuo, chief executive of the Motley Fool Singapore, said "US tariffs will increase the cost of Chinese imports but they are unlikely to deter US consumers entirely".
But, he said, China has another option - Beijing could reduce the impact of US tariffs on exporters by devaluing the yuan to make its goods cheaper for American consumers.
However, a lower yuan would make it more expensive for China to import US goods.
"So we would be back to square one," Mr Kuo said, with China exporting more to the US than it buys from the country. "Trade wars are not easy to win", he said.
Meanwhile the cost of trade war is mounting
While the unintended consequent of trade popping up everywhere. first it was Harley Now BMW and Tesla are planning to built plant in China
China trade surplus with US hits record high in June
China's monthly trade surplus with the US hit a record high of nearly $29bn (£22bn) in June as exports to America remained strong.
The figures come a week after the trade war between the two began, with the US imposing tariffs on $34bn of Chinese goods, and China retaliating.
This week, Washington threatened to impose
Analysts expect to see the impact of the tariffs in July's figures.
"We expect the trade numbers for July to disappoint since that's when the first round of US tariffs took effect," said Amy Zhuang, China analyst at Nordea Bank in Singapore.
"Still, we do not expect a plunge because those tariffs only targeted $34bn worth of goods which is fairly small compared to China's total trade", she said.
In the first six months of the year, China's exports to the US rose 13.6% from a year earlier, while imports from the US increased by 11.8%. Its trade surplus with the US over the same period was $133.76bn, up from $117.51bn last year.
As the world's largest exporter, China has threatened retaliatory action against the tariffs and pledged that it would lodge a complaint with the World Trade Organization.
US President Donald Trump had already threatened to impose additional tariffs if China - the world's largest exporter - retaliates.
While China continues to benefit from strong global demand for its goods for now, the rising trade tensions with the US has the potential to hurt both sides.
Amy Zhuang has warned that there could be knock-on effects if the US proceeds with its proposal for a new round of tariffs on $200bn of Chinese goods.
"Not only will Chinese exporters suffer but American consumers as well," she told the BBC.
"Targeting such a large amount of basic consumers will inevitably have an effect on US inflation."
No easy win
Others say the latest data shows how difficult it will be for the US to win the trade war, arguing that Americans want to buy Chinese-made products.
David Kuo, chief executive of the Motley Fool Singapore, said "US tariffs will increase the cost of Chinese imports but they are unlikely to deter US consumers entirely".
But, he said, China has another option - Beijing could reduce the impact of US tariffs on exporters by devaluing the yuan to make its goods cheaper for American consumers.
However, a lower yuan would make it more expensive for China to import US goods.
"So we would be back to square one," Mr Kuo said, with China exporting more to the US than it buys from the country. "Trade wars are not easy to win", he said.
Hendrik_2000
Lieutenant General
Op/ed Bloomberg
Trump Is Misjudging China’s Resolve on Trade
You can’t defeat an opponent you don’t understand.
By
July 12, 2018, 4:00 PM CDT
Trouble as far as the eye can see. Photographer: Qilai Shen/Bloomberg
Donald Trump’s strategy in his trade war with China boils down to inflicting sufficient economic pain to eventually force Beijing’s leaders into concessions the president wants — whatever those may be. That’s the obvious purpose of the tariffs he plans to impose on another $200 billion of Chinese-made goods.
Trump may find with China, though, that there’s an inverse relationship between pressure and cooperation. Rather than bringing China’s leadership to heel, the extra duties are likely to prompt a digging in of heels. That means a longer trade war, with greater damage to the U.S. economy.
The latest moves may be not much more than optics, a reality show before midterm elections to make Trump appear tough. But the approach is also mired in misperceptions — and bluntly, plain ignorance — of modern China. To Trump and his advisers, that nation appears poor, dependent on the U.S. and susceptible to coercion. The reality is a global economic force with a proud and ambitious leadership that bases its legitimacy on restoring Chinese power. Those leaders will not be easily intimidated.
Team Trump’s first big miscalculation is over economic leverage. Because China than vice versa, the administration reckons it has the upper hand. Stephen Moore, a Heritage Foundation fellow and former Trump economic adviser, that “their economy cannot grow without access to the U.S. market.”
, and far from vulnerable. Julian Evans-Pritchard, senior China economist at Capital Economics Ltd., said in a July 11 report that the total $250 billion of exports facing U.S. tariffs represents only 1.3 percent of the country’s GDP, and the damage done by those duties might be only around 0.5 percent of output. That’s not pocket change, but it’s almost certainly insufficient to compel Beijing to grovel.
Nor does Trump appreciate whom his tariffs really hurt. He’s assuming Chinese companies and workers will bear the brunt, but that ignores global supply chains. Hannah Anderson, global market strategist at J.P. Morgan Asset Management, commented recently that “the majority of the value in the imports from China the U.S. has imposed tariffs on so far comes from other countries besides China.”
Where the U.S. administration misunderstands China most strikingly is in politics. Certainly, President Xi Jinping is an unelected strongman, and possibly president for life, who theoretically can pursue any policy he likes. But China doesn’t work that way. Xi, like Trump, has a public image to uphold; that image, like Trump’s, is wrapped up in nationalism.
Xi relentlessly portrays himself in state media as the stoic defender of the Chinese people, the man to restore the nation to its rightful place on the world stage — to Make China Great Again, you might say.
This bravado has a ready-made audience. Chinese media constantly remind the public of a litany of past humiliations at the hands of Western powers and their allies, especially Japan — the unjust wars and unequal treaties that turned a hegemon into the poor prey of gunboat diplomacy.
In , Xi himself reminds his people of aggression against China and the determination of the Communist Party to right those wrongs. “The Chinese people have made continuous efforts for more than 170 years to fulfill the great dreams,” he at a March congress. “Today, we are closer, more confident, and more capable than ever before.”
The government’s message is clear: China will no longer be a victim. As with global politics, so with trade. For example, the Ministry of Foreign Affairs the latest tariffs as “quintessential trade bullying” and promised China would “stand on the right side of history.”
This state-fostered fervor makes it almost impossible for Xi to be seen to cave in to Trump, or indeed any outside force.
Eventually, the two sides will have to find that allows both to claim victory. In the meantime, the tariffs will punish U.S. consumers and companies with higher prices, costing jobs, profits and growth and roiling financial markets, while making a face-saving compromise harder to reach.
Trump and his advisers appear to be undaunted. But they can’t defeat a foe they fail to understand.
This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.
Trump Is Misjudging China’s Resolve on Trade
You can’t defeat an opponent you don’t understand.
By
July 12, 2018, 4:00 PM CDT
Trouble as far as the eye can see. Photographer: Qilai Shen/Bloomberg
Donald Trump’s strategy in his trade war with China boils down to inflicting sufficient economic pain to eventually force Beijing’s leaders into concessions the president wants — whatever those may be. That’s the obvious purpose of the tariffs he plans to impose on another $200 billion of Chinese-made goods.
Trump may find with China, though, that there’s an inverse relationship between pressure and cooperation. Rather than bringing China’s leadership to heel, the extra duties are likely to prompt a digging in of heels. That means a longer trade war, with greater damage to the U.S. economy.
The latest moves may be not much more than optics, a reality show before midterm elections to make Trump appear tough. But the approach is also mired in misperceptions — and bluntly, plain ignorance — of modern China. To Trump and his advisers, that nation appears poor, dependent on the U.S. and susceptible to coercion. The reality is a global economic force with a proud and ambitious leadership that bases its legitimacy on restoring Chinese power. Those leaders will not be easily intimidated.
Team Trump’s first big miscalculation is over economic leverage. Because China than vice versa, the administration reckons it has the upper hand. Stephen Moore, a Heritage Foundation fellow and former Trump economic adviser, that “their economy cannot grow without access to the U.S. market.”
, and far from vulnerable. Julian Evans-Pritchard, senior China economist at Capital Economics Ltd., said in a July 11 report that the total $250 billion of exports facing U.S. tariffs represents only 1.3 percent of the country’s GDP, and the damage done by those duties might be only around 0.5 percent of output. That’s not pocket change, but it’s almost certainly insufficient to compel Beijing to grovel.
Nor does Trump appreciate whom his tariffs really hurt. He’s assuming Chinese companies and workers will bear the brunt, but that ignores global supply chains. Hannah Anderson, global market strategist at J.P. Morgan Asset Management, commented recently that “the majority of the value in the imports from China the U.S. has imposed tariffs on so far comes from other countries besides China.”
Where the U.S. administration misunderstands China most strikingly is in politics. Certainly, President Xi Jinping is an unelected strongman, and possibly president for life, who theoretically can pursue any policy he likes. But China doesn’t work that way. Xi, like Trump, has a public image to uphold; that image, like Trump’s, is wrapped up in nationalism.
Xi relentlessly portrays himself in state media as the stoic defender of the Chinese people, the man to restore the nation to its rightful place on the world stage — to Make China Great Again, you might say.
This bravado has a ready-made audience. Chinese media constantly remind the public of a litany of past humiliations at the hands of Western powers and their allies, especially Japan — the unjust wars and unequal treaties that turned a hegemon into the poor prey of gunboat diplomacy.
In , Xi himself reminds his people of aggression against China and the determination of the Communist Party to right those wrongs. “The Chinese people have made continuous efforts for more than 170 years to fulfill the great dreams,” he at a March congress. “Today, we are closer, more confident, and more capable than ever before.”
The government’s message is clear: China will no longer be a victim. As with global politics, so with trade. For example, the Ministry of Foreign Affairs the latest tariffs as “quintessential trade bullying” and promised China would “stand on the right side of history.”
This state-fostered fervor makes it almost impossible for Xi to be seen to cave in to Trump, or indeed any outside force.
Eventually, the two sides will have to find that allows both to claim victory. In the meantime, the tariffs will punish U.S. consumers and companies with higher prices, costing jobs, profits and growth and roiling financial markets, while making a face-saving compromise harder to reach.
Trump and his advisers appear to be undaunted. But they can’t defeat a foe they fail to understand.
This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.
Jura The idiot
General
has China retaliated yet for the new new tariffs? Wednesday at 8:15 AM
Today at 2:56 AM
now
The additional tariffs list released by the Trump administration on 200 billion US dollars' worth of Chinese imports is completely unacceptable, and China will be forced to take responding measures, China's Ministry of Commerce announced on Wednesday
Jura The idiot
General
now I read
"China capable of coping with the reduction of US imports
After the increase of US tariffs on Chinese goods, China will significantly reduce the import of US soybeans. However, China is fully capable of coping with the import gap of soybeans, according to China’s National Grain and Oils Information Center.
The countermeasure of China imposing a 25 percent tax on US soybeans will cost an extra 700-800 yuan ($105-120) per ton, while Brazilian soybeans will only cost around 300 yuan ($45) per ton. In fact, the prominent competitive disadvantage of US soybeans has resulted in the cancelation of 615,000 tons of imports for three weeks by June 28, according to an expert from the information center.
South America is expected to see a significant expansion of its soybean industry due to the Brazil soybean harvest this year. Also, countries along the “” will likely expand planting operations, the expert added.
In addition to broadening the overseas sources of soybeans, this is a great opportunity for China to increase domestic soybean production and look for soybean substitutes.
The highest futures of US soybeans on the Chicago Board of Trade have dropped 14 percent, which suggests a heavy potential loss for US soybean farmers.
In the past 20 years, some 85 percent of the global soybean trade came from China, and China will continue to remain the main engine, but China’s gains will unlikely be passed onto US soybean farmers."
link:
"China capable of coping with the reduction of US imports
After the increase of US tariffs on Chinese goods, China will significantly reduce the import of US soybeans. However, China is fully capable of coping with the import gap of soybeans, according to China’s National Grain and Oils Information Center.
The countermeasure of China imposing a 25 percent tax on US soybeans will cost an extra 700-800 yuan ($105-120) per ton, while Brazilian soybeans will only cost around 300 yuan ($45) per ton. In fact, the prominent competitive disadvantage of US soybeans has resulted in the cancelation of 615,000 tons of imports for three weeks by June 28, according to an expert from the information center.
South America is expected to see a significant expansion of its soybean industry due to the Brazil soybean harvest this year. Also, countries along the “” will likely expand planting operations, the expert added.
In addition to broadening the overseas sources of soybeans, this is a great opportunity for China to increase domestic soybean production and look for soybean substitutes.
The highest futures of US soybeans on the Chicago Board of Trade have dropped 14 percent, which suggests a heavy potential loss for US soybean farmers.
In the past 20 years, some 85 percent of the global soybean trade came from China, and China will continue to remain the main engine, but China’s gains will unlikely be passed onto US soybean farmers."
link:
SamuraiBlue
Captain
If I remember correctly soybean harvest is around September in the northern hemisphere so the harvest in Brazil will be around March.
What is PRC going to do till then?
Live with it. What else?
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