Why is trump fighting with China?
As the developed nation - we should be helping other developing nations out of poverty instead putting tariffs on them. Can any finance bros help out here? This is also not good for recruiting great Chinese talent in tech.
Maybe Robinhood can help?
China banned Twitter, which annoys Trump
China should also not ban but that is their culture and we should respect different cultures.
I mean that's all great but their 'culture' as you call the state works to imprison and 're-educate' millions of their countrymen and all sorts of wonderful things. America may not be the best nation in many people's eyes but if only one could survive I would hope it would be the United states
There is limited amount of resources on earth. The richness of US is based on the monopoly over high tech industry and ripping money from other countries. Once Chinese firms break the monopoly, US will not be able exploit other countries and no barber will get paid $20 for a haircut or no waiter will get paid $15 an hour. Trump is doing this to firms like Huawei in a hope that it will slow them down or make them go bankruptcy.
The real answer is oil. China is building a rmb based oil exchange which threatens US. Also the silk belt and road project is Chinaâs version of NATO. Bashing China for democracy, human rights , blabla is just political propaganda. The situation is Saudi Arabia is way worse but US never talks shit about it. Instead due to the oil usd theyâre rich as fuck, which is what US want - a stable society that keeps feeds oil in exchange of green paper printed by Fed. Which later used to buy goods from around the world.
I recently heard China doesnât care about oil since they are leading in green energy. You really think this is the case?
Not the oil itself. But tying the currency to oil. The reason why USD is the worldâs reserve currency is its dominance in the global oil trade. It used to be gold under Bretton Woods system. I guess this is not mentioned in Us text books.
China has a ton of tarrifs on foreign products. Tarrifs on cars at least 30%, can be around 100% on luxury cars. Tariffs on almost all imports other than agriculture have tariffs. And I'm talking about the situation before the trade war. US didn't really care about these tariffs back in the 90s, when China's economy was small. But now that China's economy is #2 and will overtake USA soon, it does make sense to revisit the trade relationship and have roughly equal terms. There are other kinds of protectionism (policy favoring domestic companies, random inspection and unevenly applied regulations, local ownership rules), as well as IP theft, etc. I'm no supporter of trump, but it does make sense for him to do this, and the only kind of negotiation china understands is hardball power leverage. So trump has to do this until china and/or the US feel enough pain to compromise. China could work on it's PR. It seems almost every international dispute is a zero sum game, fight to the death style negotiation. This continues to alienate the world, who should be natural allies against Trump.
Itâs not the why, itâs the how. He fucked up and now weâre out of options.
I know people say this but how do I know this to be true? People also said in NYT that economy would collapse when he got elected. So Iâm just confused now. I think we should get better with China and be the bigger person without placing tariffs even if they do so.
Where is this imaginary NYT article?
Magga
Do you regularly give your neighbor your hard earned money because he is poorer??????
America First
But how does fighting with China help America?
The chinese government gives 0 fucks about IP. They live firmly by a china first mantra. Its a bit of their own medicine