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trade war

This tag is associated with 33 posts

Engage China, or confront it? What’s the right approach now?


Stephen K. Bannon, the former White House adviser, calls the United States’ relationship with China’s Communist Party an economic and information “war,” while Eric Schmidt, a Google founder, says American interests are entangled with China, our biggest competitor in the race for global technological dominance. The next phase of the relationship between the two countries … Continue reading

Former Chinese finance minister warns China and US are on brink of ‘financial war’


The growing rivalry between China and the United States is at risk of becoming a “financial war”, a former Chinese finance minister said on Saturday. Speaking at an industry forum in Beijing, Lou Jiwei, chairman of the foreign affairs committee of the Chinese People’s Political Consultative Conference (CPPCC) National Committee, said that despite the compromises … Continue reading

Trump says U.S. hasn’t yet agreed to roll back tariffs, despite China’s insistence that he has


President Donald Trump dealt a blow Friday to investors who were hoping the United States and China were inching closer toward a partial trade deal that would roll back billions in tariffs. Speaking to reporters, Trump said the US has yet to agree to wiping tariffs, undercutting a statement from China’s Commerce Ministry indicating openness … Continue reading

Cadence Column: Asia, November 4, 2019


The crud is hitting the fan on China and the fake trade war. The US and China were ready to sign, until they weren’t. They were going to sign at APEC in Chile, but Chilean society’s peace seems to be mirroring that of Hong Kong. Protests seem to be getting in the way of many … Continue reading

China casts doubt on reaching long-term trade deal with U.S. under Trump


Chinese officials are casting doubts about reaching a comprehensive long-term trade deal with the U.S. even as the two sides get close to signing a “phase one” agreement. In private conversations with visitors to Beijing and other interlocutors in recent weeks, Chinese officials have warned they won’t budge on the thorniest issues, according to people … Continue reading

China’s factory activity shrinks for 6th month as trade war clouds outlook


Factory activity in China shrank for the sixth straight month in October and by more than expected, while service sector growth eased as firms grapple with the weakest economic growth in nearly 30 years. The world’s second-largest economy is facing heightened risks from slowing global demand and the Sino-U.S. trade war, adding pressure on policymakers … Continue reading

Cadence Column: Asia, September 23, 2019


China is dipping into its pork reserves while America is largely unaffected by the surge in oil prices. The pork crisis in China started with an outbreak of the African Swine Flu and has been exacerbated by the trade war. China doesn’t have energy independence like America does. Soon, China will have a crisis of … Continue reading

China has already lost the trade war


China already lost in the trade war with the U.S. Although you will never hear Chinese authorities, especially President Xi Jinping, admit it as such, the evidence is everywhere and only becoming more compelling by the day. Reuters recently reported that based on the Chinese government’s own data, China’s economic slowdown has worsened in August, with “growth in industrial production is at … Continue reading

China’s economy is getting worse. That makes a trade deal more likely


China’s economic slowdown keeps getting worse. That could give the country incentive to repair its trading relationship with the United States and take more steps to stimulate its economy. The country released data Monday that showed industrial production — an important indicator for China’s economy — increased by just 4.4% in August compared to a … Continue reading

China excludes soybeans and pork from additional tariffs in a huge win for US in trade war


China just announced that it would not be adding additional tariffs to US agricultural goods such as soybeans and pork, marking a huge win for American farmers. The superpower said via the state-owned Xinhua news agency that it would be encouraging Chinese companies to purchase more American agricultural goods after Trump delayed tariffs by two … Continue reading

The Trump administration has reportedly discussed a China trade deal that would lift some tariffs


The Trump administration has reportedly discussed a plan to offer China a deal that would include a rollback of some tariffs, potentially defusing tensions in a more than yearlong trade war that has rattled the world’s largest economies. Bloomberg reported Thursday that under the agreement, the US would remove some of its punishing tariffs on … Continue reading

Beijing’s hostility started the trade war


I first traveled to mainland China as a high school student in 2008. Like many observers at the time, I was enthralled by the apparent success of China’s development model, manifested in the urban landscapes of Beijing and Shanghai. I was influenced by the then-prominent idea of Chinese exceptionalism, which one could encounter in both … Continue reading

China’s car market is heading from recession to depression


The Chinese auto market is crashing.  Data from the Chinese Association of Auto Manufacturers show the passenger car market there contracted 6.9% in August and has fallen 11.0% for the year-to-date period. August 2019 marked the 14th consecutive decline for the Chinese auto market, an important landmark for analysts, as Chinese car sales could be … Continue reading

US companies leave China at a faster pace because of trade war


The American Chamber of Commerce in Shanghai said Wednesday U.S. companies are steering business away from China at an increasing rate amid the escalating trade war between Washington and Beijing. More than a quarter (26.5 percent) of the 333 respondents to AmCham’s annual survey said they have redirected investment away from China over the past year, … Continue reading

China has piled up nearly 100 tons of gold reserves to help buffer against the blows of Trump’s trade war


Gold has risen 18% since the start of the year, in part because China has been adding vast amounts of the metal to its reserves. Bloomberg, citing the People’s Bank of China, reported that the Asian superpower added over 94 tons of gold to its reserves since December, consistent with gold’s rise since the end … Continue reading

Chinese exports to the US tanked by 16% in August as Trump’s trade-war tariffs hit demand


China’s exports to America tanked 16% to $44.4 billion in August — a sharp acceleration from their 6.5% drop in July, Reuters said — as Donald Trump’s tariffs sapped demand for Chinese goods in their biggest foreign market. However, Chinese imports of US goods dropped by about 22% to $10.3 billion, official customs data showed. … Continue reading

A big mistake China’s political elite makes in fighting the trade war with U.S.


In fighting the US-China trade war, China’s political elite makes a big mistake: it assumes that China has achieved “power parity” with the US. That’s according to a recent article published in the September issue of Current History. It argues that the growing economic interdependence between the world’s two largest economies has given China the … Continue reading

Trade war causing companies to flee China


The more than yearlong trade war between the United States and China is shaking up supply chains all over the world. An analysis by the Tokyo-based investment bank Nomura looked at a sample of more than 50 manufacturers that have already left China in order to avoid President Trump’s tariffs and found the departures will … Continue reading

Obama’s ‘first film’ is too late to soften US-China antagonism


This film documents what happened to an Ohio General Motors plant that closed after the 2008 financial crisis and was later bought by a Chinese company. Its name is ‘American Factory’. CBS News reported that it is the “first documentary produced by (former President) Barack and Michelle Obama for Netflix. Directed by veteran independent filmmakers … Continue reading

China’s manufacturing slumps for fourth consecutive month as trade war hits hard


As the trade war with the United States continues to gather pace, manufacturers in China remain gloomy about their prospects, with the sector activity contracting for the fourth successive month in August. The manufacturing purchasing managers’ index (PMI), released by the National Bureau of Statistics (NBS) on Saturday, stood at 49.5 in August, down from … Continue reading

China’s ambitious greenhouse gas emissions at risk amid trade war with U.S.


China‘s greenhouse gas emission targets are at risk as a result of the trade war with the United States, which has put Beijing’s coal-reliant economy under heavy pressure, a senior climate official said on Friday. “External elements, such as the Sino-U.S. trade war, have brought negative impacts and increasing uncertainties to the global economy, which … Continue reading

Huawei’s new phone could be the first major hardware casualty of the US-China trade war


On a normal year, millions of Huawei fans anticipate the announcement of the company’s new smartphones. But 2019 is not a normal year. In May 2019, Huawei was placed on a US trade blacklist, preventing US companies from doing business with Huawei without permission from the US government. As a result, Huawei cannot use Google’s … Continue reading

Trump says China has blinked in trade war – talks on again


President Donald Trump said Monday that China called to say it wants to go back to the bargaining table and restart trade talks with the United States. Trump says Chinese officials called Washington to urge a return to negotiations after an impasse provoked stock market chaos last week, USA Today reported Monday. The president was … Continue reading

Everything that happened over the weekend with the US-China trade war


On Friday, before the U.S. stock markets opened, China’s Ministry of Finance announced on its website that it will apply new tariffs of between 5% and 10% on $75 billion worth of imported goods from the United States. U.S. President Donald Trump responded by raising rates on nearly all Chinese imports. Tensions stemming from the … Continue reading

Manufacturing is moving out of China to avoid tariffs


Home Depot’s suppliers are trying to head off some of the increased costs from rising tariffs by moving at least some of their production out of China, executives told investors Tuesday. “I’m not aware of a single supplier who was not moving some form of manufacturing outside of China,” said Ted Decker, executive vice president … Continue reading

Cadence Column: Asia, August 19, 2019


Conflicts with China are helping Taiwan. The trade war is driving manufacturing away from China toward Taiwan, Vietnam, and Burma, among others. China’s travel ban on Taiwan for openly supporting the Hong Kong protests is pushing the Taiwanese to implement better visa privileges with other Asian nationals visiting Taiwan. Not only did last week’s occupation … Continue reading

US-China ‘trade’ war, if not ended soon, may spill over to ‘finance’


“On the international monetary front, the key problem was the acute dollar shortage in post-war Europe … In the effort to reconstruct a viable Western Europe, the United States conceded degrees of protection and discrimination in trade that were incompatible with its original blueprint …” Ian Clark, a Fellow of the British Academy and a … Continue reading

Businesses struggle as cracks appear in China’s economy


Cracks are opening in China’s mighty economy: investors are backing away from deals, factories are moving abroad and companies are shedding jobs. The world’s second-largest economy is losing steam, hitting its slowest growth in almost three decades last year, and flagging further in recent months. While gross domestic product grew at 6.6 per cent in … Continue reading

Sino-American trade war – the dust has not yet settled


The headlines are full of news of a trade war between the United States and China. Every day you read or watch some news in order to fill the blanks in or to have some knowledge about current affairs. And you’ve probably heard by now that China and U.S have announced tariffs on many of … Continue reading

China is losing the trade war in nearly every way


China is still the world’s No. 2 economy and is still the monster of emerging markets, but regardless of those bonafides, Xi Jinping’s country is losing the trade war in nearly every way imaginable. The arrest of Huawei CFO Meng Wanzhou in Canada last month for breaking U.S. sanctions law, followed by the firing of … Continue reading

‘Invented and Made in America 2028’ vs ‘Made in China 2025’


In response to the ‘Made in China 2025’ strategic plan, an ‘Invented and Made in America 2028’ scheme is jointly proposed by retired Navy Admiral (Commander-in-Chief of the US Pacific Command) Dennis Blair, Director of National Intelligence (Jan 2009 – May 2010) and currently the chairman of Sasakawa Peace Foundation USA, and Robert D. Atkinson, … Continue reading

Looking at the US-China Trade War from a Micro-Perspective: The Aluminum Imports


On July 6, U.S. initiated $34 billion worth of tariffs on imports from China, officially marking the largest trade war since the Great Depression. Among the imported goods levied, including auto parts, jet engine parts and other machinery, aluminum and other metals have long been the targets of U.S. tariffs. But this time, aluminum has … Continue reading

Trump will win the US-China trade war easily


Beijing will accept a new US-China trade deal which is dictated by Trump. The American oilseeds for producing cooking oil, navigational instruments for building cargo vessels (dry bulk or container ships), intermediate producer goods for manufacturing … (see the picture shown above) are at this moment irreplaceable items that China needs to import from the … Continue reading

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