The short-term dividends of Trump’s new fiscal, trade and financial policies will gradually be exhausted, and the structural factors that limit economic growth and the negative effects of the trade war will begin to emerge.
China now is clearly on the edge of anger, what will be the final card on the table? Let’s find out.
Talks are always better than no talks. Ultimately, no one really cares who took the first step because the essence of the whole matter is to contain the increasing damages to both economies.
United States Secretary of the Treasury Steven Mnuchin sent a proposal to China on September 12, seeking the initiation of a new round of trade negotiations. Gao Feng, spokesman of China’s Ministry of Commerce, responded the following day that China had received the proposal and welcomes talks. Beijing and Washington are now working out the negotiation details. Escalating trade conflict is not in line with interests of either party, Gao emphasized. Since the trade war was first waged by the US in July, the US has already levied tariffs on $50bn of Chinese products, while China has retaliated with measures worth an equivalent amount. Now, Trump’s government is considering a duty increase on $200bn of Chinese products. With these factors in mind, how should we interpret the signal for talks the US has sent out at this crucial time? Does it indicate a turnaround? Increasing Domestic Pressure on Trump’s Government From running a presidential election campaign to taking office, Trump has always held a tough position on trade issues. He has placed the blame for US trade imbalances on other countries, saying they take advantage of the US. Hence, by bearing the torch of trade protectionism, Trump has shaped himself in the image of a strongman who fears no international pressure and always safeguards US interests. This image has won […]
It is not hard to find cases where the United States unilaterally imposed pressure on China on issues such as human rights, Tibet or Taiwan. These problems have all ultimately been settled, but never by means of China making one-sided concessions.
With the ongoing trade friction between China and the United States, the Port of Los Angeles has added its voice to those calling for a negotiated settlement rather than imposing tariffs, believing the latter could halt the port’s booming business built up over the past two fiscal years.
The National Defense Authorization Act (NDAA) for Fiscal Year 2019 was signed by U.S. President Donald Trump. The act includes several Taiwan-related clauses which aim to strengthen the so-called “Taiwan’s security”, promote Taiwan-U.S. exchanges.
The latest U.S. official trade data shows that its global goods trade deficit reached $404.04 billion in H1 2018, up $26.5 billion over a year ago.
President Trump’s administration, by introducing tariffs against China, is directly acting to reduce the living standards of the US population.
The intention of Pompeo’s visit to Southeast Asia was to promote an Indo-Pacific strategy and accelerate its launch. However, as the key country in the Indo-Pacific region, does India move to the same beat as the United States on this strategy？
Wang Yi, Chinese State Councilor and Foreign Minister, attended China-ASEAN Foreign Ministers’ Meeting in Singapore on August 2. As the rotating chairman of ASEAN and coordinator of China-ASEAN relations, Foreign Minister of Singapore announced that China and ASEAN arrived at the single draft negotiating text of Code of Conduct (COC) on the same day. This is the first move towards substantive negotiations on the COC, and also a critical move and a milestone that lay foundation and provide essential safeguard for further talks. Δ Chinese State Councilor and Foreign Minister Wang Yi (First row, L3) attends the 25th ASEAN Regional Forum retreat held in Singapore on Aug 4, 2018.[Photo/ Xinhua] What is the single draft negotiating text of COC? The 14th Senior Officials’ Meeting on Implementation of Declaration on the Code of Conduct on the South China Sea (DOC), held last May, passed the framework of COC, indicating that negotiations had entered a new substantive stage. However, a series of difficulties and challenges exist in such stage, among which the foremost one is the drafting of the basic document. As Wang Yi depicted, the progress made in these negotiations can be compared to China and ASEAN building a new house together. In the past, eleven countries had 11 plans, but now, with China and ASEAN agreeing on a single draft […]
The meeting revealed an important signal for the next step in the development of the Chinese economy.
Facebook
Twitter
Linkedin
Google +