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President Trump on Thursday plans to announce at least $50 billion worth of annual tariffs and other penalties on China for its theft of technology and trade secrets, which administration officials say has robbed American companies of billions of dollars in revenue and killed thousands of jobs.
The measures would mark Mr. Trump’s most aggressive move yet against a fast-rising economic rival that he has accused of preying on the United States.
There's no difference in materials. China is cheaper because they have more materials to work with.
America made the "cheap and fragile" shit up because they're China's bitch boy when it comes to production and can't handle being second place because they'll lose Reserve Currency status.
better now than later, when we buy all of our products from someone else we lose the ability to make those products, as time goes on and us industry atrophies the hurdle to start the gears going gets bigger and bigger, the bigger the hurdle is the more china and others can eventually price gouge until we end up like africa and have to pay large values of raw materials for a low value of product, like bread for gold.
I don't believe in free trade as it inevitably leads to a global race to the bottom concerning labor and environmental laws. In that way I don't mind if this causes some inflation because we are already paying the "high cost of low prices" with elimination of industry and pressure on workers to do more and get less. If things cost more but that extra money ends up staying in our country then we ultimately are benefiting our fellow neighbors and friends. I don't consider comparative advantage from countries with lower standards of living than ours legitimate.
It's bad when Trump does it
But when Obama does it with Chinese tires there's no problems?
Or is it only there's retroactively a problem, and they never brought it up as a problem at the time, and are only now saying it's a problem because Obama is out of office?
Nah it's because mass-production drives down the price, materials can be bought more in bulk and blueprints, designers labor and such can be reused a lot more, the greater the scale of production the less it costs(materials aren't worth shit). Asian mass-production is on a different scale than Western one. All of Europe + America is just 500 million people iirc, Asia is several billion, more than a billion just in China.
There is nothing China does that can't be done elsewhere. They have many competitors. There is nowhere else on this planet that can replace the consumption of the United States. War over. China Lost. Go ahead and go all the way, tariff everything, full out trade war. Show me a country that can replace the US for Chinese exports. They have nothing we can't get from ourselves or someone else. Even the rare earth metals can be brought back here, we let them go to China in the 90's because we don't like dumping toxic waste all over our land contaminating all of our drinking water. All china has to do is negotiate to make things better for the US side, taking this "we will fight to the end" stance is idiotic on their part because they will lose. If you want the gravy train to continue, make concessions. Otherwise you are proving the anti-china people right by taking hostile positions, like you do with everything when it comes to the United States. China doesn't act like an ally, so why are they surprised by the US taking actions to stop their growth into a global superpower?
You're an idiot if you think continuing on the current path is the best move. This should have been taken care of 20 years ago if our government had half a brain. Sold our souls for cheap goods, and in the process created a superpower that threatens our existence. This wouldn't be a problem if China acted like an ally rather than an adversary.
I don't think anyone expected the chinese to be stupid enough to go through with it, rather than just make some concessions so Trump can go back and show that "he won". Long term this is good for the USA, and really bad for china, they must see that. They are bluffing. If they follow through or "pay any cost" they will lose.
They will go through with it, however the question is how long will it last. China expects the US to fold through attrition. However you also have to take into account whether or not China's bluster is more to satisfy their internal faction struggles and their controlled populace. The one thing China can't take is internal chaos, that's the one thing the CCP fears most, as any forms of protests and riotous behavior has a high chance of spiraling out of control.
True, China has never been a unified nation and the Chinese government knows that. It a big reason they are in this trade war with the United States. They pushed millions of peasants into coal mining, and the iron and steel works to give them jobs/money so they wouldn’t think about rebellion, but this caused huge amounts of product to be made with nowhere to go but warehouses. So a couple of years ago China had two options, fire one hundred million workers from coal, iron and steel, or dump it on the market for dirt cheap prices and keep the workers working.
It’s a great idea. The only people who don’t agree, are cunty liberals who are afraid of China for some reason.. Yeah, I know we have debt with them, but fuck em. We bailed them out of getting their asses handed to them by Japan in WWII.. They owe us their very existence
At this stage of technological development the world should be encouraging population reduction not supporting future public resources distribution states to maintain a high standard of living. China and In IA need to burn before they use up all of humanities collective resources not to feed poor with no drive
Dude, in the age of the internet, you cannot seriously be this wrong. I'll even give you a head start on what word to search: Foxconn.
Electronics (and really anything) are typically only shitty quality if they're cheap quality. So "Cheap Chinese electronics" are indeed crap, but there are also "Insanely overpriced Chinese electronics" which are arguably far from crap.
China tends to be known for its inconsistency in construction standards. Many Chinese infrastructure and building projects, when driven by schedule, are not build as designed. When economic progress is in mind, projects are often built ahead of schedule and quality an even tradeoff with time. Politicians push schedule to increase their image appeal.
A lack in construction leadership qualifications leads to sloppy workmanship. Contractors prefer to use cheap building materials in place of durable and sustainable products. When approaching the urban areas, enforcement and quality control becomes more stringent. However, poor construction habits continue to endanger rural and suburban life in China. :P
prior to ww2 most of the federal government's income was from tariffs
having a trade war where we import nothing and export nothing is better than importing more than we expert
it's hilarious to watch self proclaimed liberals and socialists go to bat for the interests of global capitalist oligarchs and international financiers or see newspapers that bemoan the evil corporations outsourcing jobs shriek that the sky will fall if we were to impose tariffs that make outsourcing unprofitable.
The real question is who can negate the price increases better. What % of each country's imports can be replaced by similarly priced local production? What % can be replaced by imports from other countries, again at a similar price point? Are those percentages high enough to prevent massive price increases as demand can't be met? If you can replace enough of the material, you can manage the minor price increase. If you can't, you can expect massive price hikes which can be devastating, especially if the hikes are to essential imports.
In this way having the US is at a disadvantage since it has to replace $600 billion in goods while China only has to replace $150 billion. However I don't really know what portion of each of those values is considered critical (material needed to run core industries or food to feed the population). If only 25% of US imports are critical but 100% of China's imports are critical, then the two are on even footing since it is easier to dump noncritical goods (easier, but not entirely trivial either, it will still cause economic damage but at least it won't domino like food or fuel shortages).
President Obama wanted to go after China for their unfair trade practices as well. I think this is a case of people being against anything trump does. You can disagree with the methods he is using, but this should have been done years ago. Robert Kuttner has a good book out and has done some great interviews explaining the problems for those of you who are blinded by trump rage. He doesn't like trump, but everything they are saying about the situation is true.
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