An unwinnable conflict? The US-China trade war, 5 years on
HTML-код
- Опубликовано: 20 апр 2023
- Subscribe to our RUclips channel for free here:
sc.mp/subscribe-youtube
Five years since the start of the trade war between the United States and China, the conflict shows no signs of being anywhere near ending. After tariffs worth hundreds of billions of US dollars were imposed, it is also questionable whether either country has moved any closer to “winning”. The Post spoke with political and trade experts about an economic dispute that has had a profound global impact on the world and continues to reshape economies around the world.
Related story:
China’s trade outlook has industry workers worried that ‘good days’ are gone sc.mp/qtid
Support us:
subscribe.scmp.com
Follow us on:
Website: www.scmp.com
Facebook: / scmp
Twitter: / scmpnews
Instagram: / scmpnews
Linkedin: / south-china-morning-post
#scmp #Economy #US-Chinatradewar
China’s trade outlook has industry workers worried that ‘good days’ are gone sc.mp/qtid
What would the double winner, Mr. Jin, say??
Sure its gone for ever
When US is producing expensive goods and no one wants to buy, they say its not fair. What's the logic?
The US hypocrisy.
Thinking every country should praise US or else they will got sanction.
because expensive goods cannot be owned by the poor, in contrast to China which guarantees that the poor can also have the same goods or goods that are cheap but can reach all social strata can have things that exist.
@@randyalexander393 In essence greed.
Americans do not allow other countries to be strong. No other excuse
@@youngwhen5308 America always wants to win alone, and can't compete fairly.... America is little by little issuing sanctions on other countries, and the United States says the issue of human rights, but instead violates international human rights constitutions around the world, what's the story of America invading the Philippines? america invades canada? and the american invasion of mexico? America claims to be holy, even though colonialism... colonialism is an international crime, and how does America recognize itself as the world's police? while America is a former colonizer, the term America became a police imitation to invite followers around the world, even though America committed crimes around the world by creating terrorism in the Middle East by giving them weapons to rebel. and America seizes natural resources around the world.
The US’s definition for Fairness is The US takes advantage.
@Shady Whale thats how china does business, you either have a joint venture with them or not enter their market. They don't force you to enter their market
Every country like that, fair means doesn't damage it own country. Also whenever you hear nationality, love country, patriot, economy and so on is only applicable for people of their respective nation.
@@RizkhyDestatama There is a clear line between Taking Advantage and Being Fair. You cannot be fair and take advantage of others at the same time. The US is known to change rules, and withdraw from signed deals unilaterally when it sees its side is not taking advantage. But when other countries try the same to the US, those countries would be slapped with sanctions over sanctions until they 'behave' or are brought down to their knees.
US will be the downfall of humanity
Would you be okay with US gov taking a controlling stake in a Chinese company?
China has transformed from manufacturing and assembly to exporting machinery and raw material for other developing countries to do the final stage of manufacturing and assembly since those countries (Thailand, Vietnam, Laos, and even India) lack raw materials and machinery to produce. So yes, you will see fewer and fewer Made In China products in the US shops, but the Chinese production power is behind the shadow of every product you buy from those shops.
China has been moving up the proverbial value chain.
The shadow even since ....Mao era or before.. Until now many still produced, simple low price useful.😉😉 Really like old thing than...west modern complicated
Doesn't matter for US politicians
They can brag on how they defeated "Made in China" to get Americans to vote for them 😅
And those developing countries increasingly also refer to South Korea, Japan or Europe where China has become a irreplaceable supplier for raw materials, machinery and components.
when China trade with and the rest of the world makes money together，why is the US unhappy ？？？
With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stocck portfolio
Find stocks with market-beating yields and shares that at least keep pace with the market for a long term. For a successful long-term strategy I recommend you seek the guidance a broker or financial advisor.
@vacestevens3394 Glad to have stumbled on this conversation. Please can you leave the info of your investment advisor here? I’m in dire need for one.
Thank you! I just looked up sofia online and researched her accreditation. She seems very proficient, I wrote her detailing my Fin-market goals and scheduled a call.
scammer here we go 😂 👇👆
Don't do long-term, but do short-term tradings instead. Overall, broad mkt is going down trends. I sold my long-term portfolio at a loss, start short term trading. I had 20% return 2 years in a raw now.
Trying to stop 1.4 billion people from moving forward is like trying to stop a tsunami, in the law of physics, it's simply called: harakiri
Yes they can move forward alone ...
But my country has more than 1.4 billion people.
@@vivekaggarwal4876 Who can stop them?
Only themselves
Ask your government why your country is not as developed as China
US: Refuses to sell what China wants to buy - high tech equipments and chips.
Also US: Complains about trade deficit. 🙄🙄
@mudshovel 289 trade war is a matter of money don't you know go back at trump speech when he started the trade war.
China always said to their smaller neighbors : A small country should not stand up against to a big country.
@@Jake-gy7qo Where did you get it? What is the source? I’d like to verify it.
Besides that, we all know which country has been destroying smaller countries and which has been peaceful for the past 5 decades.
@@subipan4593 his name is jake, you should already know haha
@@subipan4593 Peaceful? 😅
China invaded Tibet in 1950
China invaded South Korea in 1950
China invaded Vietnam in 1979
China invaded Hong Kong in 2018
Very funny
Dealing with the former Soviet Union was easy for the US, it's just a military superpower that's all. Dealing with the Japanese was even easier, they're just an economic challenge. Dealing with the PRC however, is kinda tough. It's a military power plus an economic challenge plus a technological rival plus a diplomatic adversary (just look at the BRI) and worse of all, you can only destroy China at the expense of destroying yourself first tenfold. MAD - Mutually Assured Destruction sort of thing you see, which kept the Cold War from getting hot
What advice do you have for my country?
Why is BRI a diplomatic adversary? Developing countries needs ports , roads and national power grid to make prosperity.
U.s just needs to bring out the 90 year old compound interest 1 trillion+ loan that’s like 20 trillion now due to almost 100 years of missed payments and compounded interest
@@misterbig9025 USA shall join in China BRI, help the developing countries to improve infrastructures and economy, therefore USA can profit from developing countries and improve American people of pension , healthcare and education. Win Win for everyone ,
@@misterbig9025 USA shall set up " Special economy zone" on the Mexico & USA borders, all immigrants or refugees who wants American green card, shall be working in "special economy zone" to produce toys, clothes and cheap consuming goods. After 5 years working, these labors shall pay USD 50,000 /person to get USA green cards. if they carry on working in Special economy zone, can pay extra 50,000 USD /person in exchange for American citizenship. once they paid 100,000 USD through their working, they can free move in American homeland as a legal US citizen.
The short-sightedness of the United States will eventually bite itself back. This is the expression of the final stage of imperial hegemony.
@mudshovel 289 lol Americans have to turn to loans to buy food
eventually!!!!?? how about its already happened and its already too late!!!! they sanctioned Russia!!! Russian oil!!! who did that mess with!!!??? Not Russia but US and EU!!! what did sanctioning Huawei do!!!! No 5G!!!! US just made everything more expensive for its own allies and friends!!!? blowing up Nordstream didnt help Germany now did it??
Eventually???!! its too late!!! DEDOLLARISATION!! Ukraine was lost last year..... saudi arabia iran together with china.... Macron and France already saying no to US!! Germany is going to break away....
is everybody still asleep to what happened in the last few weeks!!!??? The whole world went to speak to one important person in China!!! China also brokered peace.... US and EU also wants China to speak to Russia! wHO HOLDS ALL THE CARDS AND WHO MAKES ALL THE CARDS!!
@@wumaobot lol, Guizhou province is broke
😂😂
@@wumaobotChina is starving their people in the countryside
@@Hkchinese888 The US is printing money to export inflation. I am not sure if you have noticed that countries are increasingly anti-US except for the Anglo Saxon states and those occupied by the US.
USA: trade war is easy to win.
China: yes.
'LOL
Fr 😂
YES
Have the US ever considered that the goods imported from China were mostly manufactured by US companies doing business in China?
Politicians are glueless. And Americans are buying into their lies.
That were manufactured from China 😅
Have you ever noticed they moved the factories to India and Vietnam?
@@raafeyplayz7015 and sold at prices that Americans fan afford 😂.
The point is not about trade.
But China rise! Rise to power that is. Economical power house.
They used the trade as excuse only. As well as Taiwan issue.
US has been debt since they removed the gold standart. A few more unbalanced trade with China suddently an issue!?
What War? US is throwing all the punches and China is shrugging off the blows and winning!
this is what happens when you have someone running the country that almost bankrupt most of his business, if he wasnt born with a silver spoon, he probably cannot even get a college degree, but since he came from a rich family, he probably just bought his degree!
The worst president ever.
trump has a internationally successful trading company, the proof is the trump tower, meanwhile joe biden graduated at the bottom of his class
Trump brought china's hate into American minds. It is crazy how suddenly they are all talking abt how china is the most evil nation.
oh you mad because Trump has destroyed China's economy? LOL we don't hear how China will rule the world or be the best economy anymore do we? Now we see western companies fleeing China and cancelling Belt and Road projects. China is evil and Chinese people like you that support the CCp are evil. Taiwan is the only respectable Chinese country there is
make sense
Despite the ongoing tariffs, the trade deficit in 2022 increased to $382B. This is on top of the high inflation the US is already facing. I don't think the US government has any long term strategic thinking.
vice-versa: What is Beijing's plan for its people as it lost the title of former global factory to India/Viet/Indonesia-etc which is quickly becoming the new global supply chain.
Short-term gain and long-term loss was the lesson witnessed from wolf warrior diplomacy in Europe where so many connection/bridges built over the decades had literally vanished into purely economic interest (aka no lasting bonds)
@@michaelwang6125china is still the world factory. None of these countries can replace China despite they have cheaper labor. China is not seeking only producing cheap and low level consumer products any more. Very simple
@@sunnydaysddt2068 and on top of what you said, china is actually working to move its low and mid level factories into Chinese friendly countries. China wants to have now an advanced industrialized economy such as building softwares, ev, planes, trains that can match planes cruise speed, a.i real applications, m.l applications and so on
Of course it doesn't! Their politicians and presidents are always thinking about how to lie to the American People to get re-elected so they can keep insider-trading while the rest of America becomes poorer and poorer.
Dumb
China is doing way worse and Trump shown them who's boss. China can't cheat forever someone with strong resolve like Trump needed to step up and correct wrongs.
I am from India, I have been to China, US, Germany many other countries for business in last dacade, we run a very successful business. I can promise you one thing, there is nothing you can do without China. The suppy chains, the interlinking of raw materials and the speed and quality that china makes jts products, no country can do it at the moment. Sure I agree we should not put all eggs in one basket, but I would put 90% of my eggs in China. Mainly because the whole industry and usually the local governments of Chinese cities and counties are making quick and effective decisions to always maintain the edge. I mean it. US we only look for marketing and consmers, US is like a internally rotting country with so many social issues, EU is slowing down, if anything the positives are in Asia and South Asia. My country India is doing well too. So overall I have very positives with China, but I worry about the recent chip act against China, maybe it's a bit too big go chew. Only time will tell
cant agree more
China and India have been neighbors for thousands of years, and it is normal to have small problems
Put 90% of your eggs in China. So no need for the West to diversify manufacturing to India. Just China and other South East Asian countries.
@@user-lj8pd7nh7c they don't have small problem china doesn't respect India and why they have many border disputes
@roro,
Your honest evaluation about the quality & efficiency of the manufactured products from China are unmatched by any other country is much appreciated by the Chinese.
Those 2 major factors help to lower the operating cost. Above all, the labour cost in China is still much cheaper than that in the USA & Europe. In addition, the logistics involved are much better because of better infrastructure support than other countries.
A hegemon trying to squash a rising power at all costs
What a simplistic view of the world you have. It must be very cozy in your mind.
@@thomasd4738 I see the real deal here, the elephant that squashing porcupine
The reality is that the manufacturing cost is usually the lowest with the cheapest labor cost. So even if the USA decouples from China, manufacturing industries would just move to other cheap labor countries, not back to the USA. Anything manufactured in the USA would simply cost too much and would be unaffordable for consumers. What the USA needs to do is make higher quality products than China does and make the price comparable to products from China. Then most people would prefer American products simply for its higher quality. If the USA cannot make higher quality products, then make the product cheap enough that the cost savings is better than spending more for a not so much higher quality products from China. The real biggest failure of the USA is the exorbitant military spending. If 80% of the military budget went to USA infrastructure instead, the USA would be miles ahead of China in every way, and the USA would leave China in the dust. Unfortunately, the USA government is corrupted because it is actually controlled by major military complex corporations, and the USA government budget is routed through the military and war to benefit these military complex corporations. American citizens cannot do anything about it because the corruption runs so deep that not even its citizens can do anything in the supposedly most democratic country on this planet. Goes to show that it is not the type of government that determines democracy and freedom but whether the government really are there to help the majority of the people instead of the few elites.
well said. USA is so ready to fund the Ukraine war with weapons, planes, missiles, tanks etc, but yet some cities are full of homeless, drug abuse, gun violence and more. no politician would bother, since it doesn't affect their pocket.
should, after World War II the United States and the 5 victorious countries of the war, enter into an agreement to create world peace. both communist and democratic systems have their advantages and disadvantages... why does the US government always increase its military influence throughout the world? Isn't the achievement of trade without creating war enough for the effectiveness of the whole world in the stability program of each country? and why aren't militaries just abolished all over the world? with the abolition of the military, the level of war will be low and not suffer many losses ... or if necessary, if there is a conflict, we will return to ancient times, only relying on strategies and swords or cowboy guns without the influence of nuclear control.
at least the world is not easily damaged by increasingly sophisticated weapons due to nuclear and biochemical influences.
but, returning to the policy of all governments, if the whole world achieves success in maintaining sovereignty and peace, then the world will be at peace forever without long conflicts.
and maybe the whole world can be friends.
Kinda agree but not all..
US Military is not the culprit, it's the "lobbying" system.
Rich corporations controls the gov't thru lobbying, it will only favor corporations and not the people.
Plus, the USA is only raising self-entitled, self centered, drug addicted spoiled brats with party and vices in minds while the chinese are raising kids to be engineers.
Unfortunately western countries will not be able to make goods cheaper like China does, in China many labor costs are low and they are grateful for jobs, and why are many Chinese people very rich? because they have the idea of saving and not buying unnecessary things. when they are successful there they can buy what they want, for the Chinese it takes a process to get all of that, in contrast to western countries which have become hegemonic countries and all western products are expensive goods that lower and middle class people cannot afford , or in other words only rich people can buy branded goods made in Europe and America, are European and American countries sure they want to compete by releasing products at low prices?
and western countries because they are strong countries and their hegemony is firmly held so that they can easily influence other countries, so all the American people can easily get whatever they want, because the value of the dollar is a currency that has a high monetary value. and all countries use dollars in transactions.
that's why I asked, are Americans willing to make cheap goods like China, because if the American people make cheap goods automatically their income will not be as high as before when American goods were expensive goods, so that individual income is also high.
The reality us cannot make it other than war.
"People take a lot of benefits of globalisation for granted..." Truth and consequences in one powerful sentence.
More than 600 Chinese companies were sanctioned by US. The numbers are growing but the trade deficits continue to grow faster too.
They've done the same to Japan in the 80s. But Japan is a US ally(better to say lapdo*), China is not.
Blaming others is the best American made thing 😂
US: *decouple from China!
US: *7% inflation
US: *surprised Pikachu
They claimed there is no Western trader in Canton Fair 2023
🤣🤣🤣
How do you know?
But the biggest fair ever. Reports are everywhere available outside of US MSM
@@misterbig9025 news
China is being cut off from the western world. Nobody needs them. All they do is assemble parts and steal tech.... Within 2-3 years all the manufacturing will be pulled out of China and they will go back to being a country of poor farmers riding bicycles 😂
@@ToiChutGongWu
你好嗎，退出江湖
That's okay, Americans are happy to pay more for endless military and trade war😅
@mudshovel 289 it's mockery
Is the reporter having memory loss or simply unfit for the job? The reporter, just like the US gov, blamed China for not meeting the import quota. The US banned chip sales to China; China could have imported hundreds billions in chips. When there were not a lot of options for China to buy from the US, China bought more agricultural products, then the US gov and media blamed China for hoarding food.
Bring it on America. We will boycott American goods. Many of family and friends are sick of your hypocrisy, tyranny and hegemony. Enough is enough. May all Chinese stand united.
We are all going to get to want things to get back to normal soon. We need a breakthrough
Easily said
it would be impossible, if the united states government did not break the chain to become a neutral country.
if America's strength is still being strengthened then war will occur, not peace will be created. Instead there was division and World War II would happen again.
what is "normal"? US rules the world and the rest bend the knee and stay poor?
NOT gonna end. It will escalate.
US Economy is print money. China Economy is manufacturing.
@mudshovel 289 manufacture what? Mostly military Industry and some high tech equipments that few people could effort
@mudshovel 289 manufacturing what? Guns? Bomb?
@mudshovel 289 You just generalized everything, why don't you be more specific about your industrial output
interesting
What's unfair is everytime the US printed USD, other countries have to bear the inflation
yeah!! Even Beijing manages to keep its over 40 trillion debts an internal domestic matter without having it ever go boom and affect the entire global market.
If some countries decide to peg their currencies to the USD, it's their own fault if they aren't in control of their monetary policy.
US can never match the low cost (cheap labor) and scale of China though... it's really a fraction of the cost
US had it all until the late 1980s.
Plenty of manufacturing jobs.
The manufacturer bosses and their shareholders vs. the workers and their labor unions continuously.
The result is plain and simple.
Move out and not having any of it with to deal with the worker and their unions.
Plus the EPA red tapes forced the manufacturers to look for better pasture to avoid red taoes of EPA control.
This should be mentioned.
China also got the infrastructure and the supply chain which the US don't have
Usa can if they cut their defense budget and invest in their own land there trillion to spend. 🤣😂
@@marczhu7473 No. There are 800 military bases. How do you cut.
@@davidwong5197 go home what else? 🏡🤔
Imagine going into a tourist gift shop and not finding something made in China.
It is no accident that the Americans started a trade war and entered the dilemma of high inflation
Dont said like that, even you using your phone right now is some of the sparepart is from china
@@ToiChutGongWu Lol Fat Chan really upset himself again 😂🎉🎉🎉
Made in Mexico? Vietnam? Thailand? India? Bangladesh? Brazil? Malaysia? Indonesia? I can imagine other countries would benefit.
I just paid for a t shirt in Europe that’s not made in China in a tourist location. It costed 65 euros. Yeah! Imagine
China : if you want a trade war we can give you one. If you want a cold war we too can give you one. You want a tech war no problem. You want a hot war ? Come if you dare. We can give you anything you want.......at a price.
Biden favourite ice cream?
Agreed
It is US that want a war. Now go and google Pentagon's simulated war game. 4 nuclear aircraft carriers will be sunk. Waht happens then? Nuclear explosion. Is that hot enough for you.
China is literally begging the U.S. not to do any of those. That's why every time the U.S. sanctions them, they do nothing but cry😁😆😂The U.S. made China and can destroy them with ease. Remember it's not just high end chips that come from the west. All high end components, software and machinery for manufacturing comes from western countries. All China does is assemble parts. They are very low end/ low value add manufacturing. This can easily be done in a lot of other countries.
Yes, China has directly or indirectly defeated the top 10 military powers except Germany
But those money were printed......Isn't this the whole point of the system? Talking about the trade deficit.
America as a democracy and as a superpower they are free to print money, but if de-dollarization starts to occur and the dollar currency decreases, sooner or later, the American currency will become useless paper.
because each country has used a new currency from which country is the next strong?
@@randyalexander393 The BRICS are proposing a trading currency.
@@davidwong5197 you're correctly
We are certainly living in interesting times. This is period of transition and it is too early to say what the future will look like, even just 5 years from now.
US still #1 but China closing the gap fast.
China relations through development and sharing profits, while US through sanctions and conflicts
Why does US keep going? It's inevitable China unbeatable
If the US is not producing enough or their product is not needed in China and the other side China is producing what the US people need, is it not normal that there will be trade deficit on the US side? Is this a genuine reason for sanctioning China or is the motive not global dominance?
The USA manufacture luxury high technology products in which there are few buyers who can afford it whereas China mostly manufacture daily to use products which people regularly buy. So that explains why the trade deficit exists. Has Americans benefited from lower costs of goods from trading with China ? The USA will only shift its trade deficit away from China to another country it is importing from as alternative. You dont solve the trade deficits overall.
@mudshovel 289 China has fully abided by its WTO and other trade commitments, it was the US that backed out from the WTO and is absent from the RCEP because it doesn't want to follow the rules. Don't just read western media.
@mudshovel 289 Western companies may not be state owned, but they can only exist with massive state support without any oversight in return.
@mudshovel 289 I don’t think that any of that is unfair. You sound as if you think that the „game“ of capitalism is more important than it’s results. But you’re wrong about that. National development and the well-being of the people is far more important than some made up rule like „Don’t give subsidies in order to achieve long term goals“.
@mudshovel 289 This is market mechanism. China at its developing stage, its labour has been willing to accept lower wages relative to the labourers in western countries. As China strives to follow the global standard eventually their costs will also rise. Industrial espionage is also done by western countries. In fact, the USA had done worst than that amounting to industrial assassination of Japan semiconductor industry in the 80s. The plaza accord was unfairly imposed on Japan because the Americans are less efficient and could not compete without its government intervention. Your claims that China want to make its competitor bankrupt is baseless. It based bigotry and paranoia similar to claims that Iraq has WMD.
@mudshovel 289 Actually all the sucessful companies in China are private. Most sateowned company are struggling.
I think we should just all love each other and not fight.
America has no idea of how to calculate on the trade war. After 5yrs china is still growing and America is declining. Same with Russia sanctions. The worst things in battle is to overestimate oneself and underestimate othe rivals. China and America has a trade worth 650b yearly. sanctions are double edges knife. The chinese has hard for the past 100yrs and only came out of it in mid 70s, so they can endure anything that the world throw at them. While america has lucky enough to have a strong military and dollar to loot and cheat on people and they have hardly enduring hardship before. it is pointless, America is paying most of the tarriffs they are imposing on chinese goods.
I love this report, it's balanced.
*the graph is wrong* .
the rate before 2017 should also been taken in consideration and shown.
great report
If raising tariffs multiple times on imported Chinese goods resulted in the record-breaking increases in Chinese imports to the US, would you consider the Trade War a win?
I'm sorry to say that but there are many countries in the world want to replace Chinese factories.
But no country can replace American technology.
If China continues to oppose the United States, the consequences will destroy the future of China.
Cheap Chinese labor will get cheaper (less pay) or lose to other countries. Factories in China are closing down and moving to other countries. Vietnam is benefiting from the US/China trade war. Also, if the cost of goods went up but the unit orders are the same, then trade per unit did not go up.
@@Jake-gy7qo American technology is old now.They are falling behind.........way behind.
@@truthurts123 In reality, the technology of America is top notch in almost every field. Every year, countless Chinese students go to the United States to study their technology. However, there are no American students or even Japanese and South Korean students studying in China to learn Chinese technology.
@@Jake-gy7qo really?Name some of the new American technology
The question is why it's need a winner it's better to them to get equal
you want a multipolar world aren't you
The world needs to 'de-couple' from the United States!
then why don't you start by getting off RUclips. Of course you won't, you hypocrite
@Jack Smith Made in China but designed in the USA. And now you are seeing all those western manufacturers leaving China in droves with millions of poor Chinese unemployed living on the streets. Arrogant Chinese thought they were the ones marketing, designing and promoting the products but they now see they were nothing but the cheap labor putting parts together. A lot more goes into the other aspects of those products then doing the simple factory work.
@@timjohnson8820 This is not the case. The Chinese do not consider products like luxury goods and sports products to be very technical, but they have a deep reverence for chips and precision instruments, and they disdain art and design and respect the achievements in mathematics, physics and other scientific fields.
@@nxuevjxind Chinese are nothing but cheaters, counterfeiters, liars, and cowards. I have worked with many Chinese and the typical male Chinese man is a cry baby. Chinese have a deep respect for stealing the ideas and products of western countries. I just saw a video on China's first "Chinese made" airplane. What a joke, the majority of the parts are western company products. They essentially did nothing but put together a plane from other countries. The advanced complicated parts of the plane are all western. The simple cheap things like the seats and luggage racks were Chinese! What a joke.
Bloomberg wasn't afraid to say it.
"The dollar suffered a stunning collapse in 2022 in its market share as a reserve currency"
April 2023
If dont want trade deficit with some one, then make a better products, dont blaim others.
I can name more Chinese goods than the state's. Actually I can only think of apple and weapons.
This video is deceptive to say the least. China's growth slowed down because of the COVID shut-down and the ban of high-tech chips to China, NOT tariff. Because of that, there were lay-off from hi-tech companies in the US. Also, most of the fimished products coming back to the US are owned by US companies. China just get paid for the manufacturing of these products no matter what.
To be honest I totally forgot about the war.
How are you brainless?
It's not unwinnable. China's industrial capacity is overwhelming. No chance, buddies...😂
Recalcitrant won't back down
Just trade with non US countries on "willing buyer , willing seller" basis
Hopefully, this trade conflict should be decided in BRICS summit in August 2023
Litmus test on "multilateralism vs unilateralism"
Multipolar loves Multilateralism
Unipolar loves Unilaterism
I reckon "Multi......" win hands down
@mudshovel 289 Nobody will bother to interfere in US policies or internal affairs, which brings no benefits
BRICS will decide on common currency among member countries bypassing dollar.
No more unilateral sanction, weaponizing currency or freezing of assets like Russia. Yellen admit it's self defeating, self inflicted harm.
New world awakening in progress
Many countries applying to join BRICS , together they represent 50% of the global population, with an estimate GDP of 30% which is larger than US. Also will control 60% of global gas reserves.
BRICS will give G7 a run for their money
US: feel my free market, ban ban ban
Any (legal) money forger has a "trading deficit"...
战争的贪婪和仇恨是解决贫困和苦难的唯一办法。போரின் பேராசையும் வெறுப்பும்தான் வறுமைக்கும் துயரத்திற்கும் ஒரே தீர்வு.Ketamakan dan kebencian terhadap peperangan adalah satu-satunya penyelesaian kepada kemiskinan dan kesengsaraan.युद्ध का लालच और घृणा ही गरीबी और दुख का एकमात्र समाधान है।
Put aside the US tech companies and the US economy will decline. The US mostly manufactures military equipment with fewer buyers than China, making everyday goods with more buyers.
Will only stop is if both sides are determine to stop all this bs and let competition be fair and square.
Reliance of one world manufacturing is ridiculous. People love options. Giving opportunity to other countries for production makes rational sense. Production/manufacturing should not be monopolized.
Capitalism results in competition
competition leads to jealousy
Jealousy leads to disagreements
Disagreements lead to strong words
Strong words lead to conflict
Conflict leads to small trade wars
Trade wars lead to wars
And wars leads to peace
And the cycle starts again
And thats the thing that worries me the most about the US. They havnt had a proper war on US soil to realise the real cost of war. Hence why they see no problens starting them elsewhere around the world
@@timmaynard797 will see it, according to history, all dynasties will have reincarnation
Aggressive wars create losers on both sides. They create permanent hatred & distrust in people’s hearts on the weaker side.
Above all, the loss of lives, livelihood, conditions & standards of living, & essential infrastructure would take years to restore.
During the war, human suffering & misery are unbearable.
Such enormous cost of war to the well being of any country should stop any aggressor in even thinking about it. Only those rulers with a beastly nature would act on a war plot. They are not wise enough to think & act on better solutions.
Wow that's some serious buddhist insight! chains of causation.
No. 650 Chinese companies sanctioned by USA.
What to talk of ending this trade war, it is likely to develop into a military confrontation.
US trade deficit is not just 50% with China. The other 50% is with other countries. Why the US runs a trillion USD trade deficit with the World (with newly printed money) is not China's problem. And the US cannot avoid the consequences of it's big spender private habits and public policies.
США пора уйти в тень. На руках этих ребят слишком много крови. Я за Китай, Россию, Индию, и другие прекрасные и полезные для мирового сообщества страны с тысячелетней историей. США не удалось подмять под себя китайцев и русских, вот они и кусают свои локти.
And now with the chip's act it's gonna increase more
China has succeeded in developing self-made chips, and Taiwan, which is said to be a region that has the largest chip production in the whole world, is of course no longer needed by China. In the future, China will develop electronics and technology using chips made in mainland China, so Taiwan can easily following the process of facing war because China is no longer worried about chips because they have been successful in making them independently and regularly.
China takes everything into account, no country can arbitrarily dictate any territory.
It was enough for western imperialism to mess China in the 19th century and this time China has returned to being a super power in the modern era. after the qing dynasty collapsed in the 19th century due to the actions of western countries.
The real question for China is whether it can forego depending on surplus from US trade, and generate internal growth by domestic market and by trading mostly with the Global South. The Western would not be irrevelant but it would be sidelined as one of many. You see this already in China's growing trade with the Middle East, S America, Asia, and Africa.
at least USA will say the playing field is level, now the world poor will be catching up to USA living standard with Chinese goods or let say USA living standard stagnated
please do ANOTHER VIDEO
On Russia - EU trade
AFTER the war started......
shocking.
Years ago, China was a closed country. They opened up to the world and their economy underwent a major transformation. They still haven't locked down their finances. But the West is now following old China. After the Russia-Ukraine war, a sense of trade protectionism has come over the heads of the West. However, countries of the Global South and China are taking advantage of this weakness of the West to cooperate with Russia and buy its products, oil and natural gas at low prices. Then they sell it to the West at a market rate. Companies on Wall Street, countries in the Global South, and China have yet to cut their product prices and fuel taxes. That means the tax revenue and profits they generate are huge by buying Russian oil and exporting cheap products.
Don't worry.....Trump will be back and finish the deal.
Paying in printed toilet paper for real goods and still complaining about trade deficit. 😂
Can stopping the sale of chips to China reduce the trade deficits?
US politicians say one thing and do another! Take whatever they say with a pinch of salt.
moving manufacturing out of China to move to their country will cost them 10 times the cost
trade war? This is just a leveling out
US- "They're cheating"
Also US.. bails out the banks
trade war: inflate each others economy and/or make other country wealthy beyond afford/workforce/bank
It's called the trade War
if it was the trade game or the trade competition they would use that term
It's a war ..... one that Kills Slowly by starvation
Maybe U.S can negotiate with China and working together. It is better than having a trade war.
It pays to have a lot of friends.
China now have majority the global new oil supply , aka batteries, rare earth materials, PV and Wind turbines. With global warming worsening by the day, it is now harder than ever to decouple from China. The majority of the world would now be much easier to decouple from US than China.
Don't forget to mention EVs, China will be the biggest exporter of cars in the world by this year.
America can never play a fair game...😊
The Post spoke with political and trade experts about an economic dispute that has had a profound global impact on the world and continues to reshape economies around the world.
The US runs persistent trade deficits with Japan, EU, and China. It should ask if its currency is overvalued which makes importing attractive. The US cannot blame the whole world for its ills.
China is the Greatest country ever!
But then why aren’t you living there ?
@@wynn3077 BECAUSE i am not Chinese, but there are 1 Million Westerners why do live and Work there, no one has a problem, all think its the best
@@jennyohara4011 You should go and enjoy yourself , there’s no point just wishing you were there.
Haven’t you ever been there?
@@jennyohara4011 How about my country India?
@@misterbig9025 Sorry she’s only in love with China.
that look from Xi to Trump was so kind and warm, yet China got a slash on the trade tariffs, wonder how Xi's thoughts and attitute after that.... LOL
The US will not end its provocation.
YES.
The problem is not the chines, the problem is the american government not spending enough on its citizen on education and training to compete.
The U.S.A. will always safe guard its economy from foreign competition whether you think it is fair or not.
how about both U.S. and china, make less myopic view and try to broad that view ?
It’s a great point: People are granted by globalization and higher living standards today. Without globalization, you will see huge inflation and drastic changes of living standards!
Let's hope NOT!!
Recent statistical data reveals a concerning downturn in trade relations between Korea and China, marking a significant shift towards a deficit structure after 31 years of diplomatic relations since its establishment in 1992. Reports from the Ministry of Trade, Industry, and Energy, as well as the Korea International Trade Association, indicate that exports to China amount to $114 billion, while imports account for $132 billion, resulting in a trade deficit of $18 billion. This deficit has persistently occurred throughout the year, starting with a deficit of $3.9 billion in January.
US had a great run, being #2 or actually sharing is nothing to be ashamed of.
No it will not end.
Trade deficit as a share of GDP is going down. In general, US industry and labor markets are the hottest I have ever seen in my life!
While most of the comments I see here are criticisms of the United States, the US government is actually accustomed to being criticized. This confidence comes from decades of dominance over the world and the established social mechanism formed by the long-standing lenient atmosphere of public opinion. American citizens are also accustomed to this, so such criticisms seem to have had no significant practical impact, and everything is still moving forward by inertia. However, despite attempts to suppress it through forceful directives and misleading guidance, the sentiment of the people will ultimately manifest gradually and subtly.
On the other hand, China has taken a different path. Our long history of hard struggle, along with the examples of the Soviet Union, Yugoslavia, Ukraine, and others, has taught us that unity is necessary for survival. Therefore, "maintaining stability" has become an extremely important factor for the Chinese government. To be honest, this "unity" does not come without a cost, and not everyone agrees with it. But at least for now, this apparent "unity" stemming from authoritarian power has ensured China's combativeness in this trade war. This flawed "unity" is actually the "democratic choice" of the majority of the Chinese people.
it never ends...they know your game now...when you don't play nice...
In 2023, SCMP still frame it as a trade war? Who are you kidding?
i wonder what happens when china builds better chips then the usa. it is just a matter of time.
Labor cost dictates all. Once China's wealth rise to a certain point, their goods will be to high to buy. Production will move to other parts of the world, not the US.
Wrong ,labour cost is only one of many factors.. if labour cost is all .africa and india had become world factories since long log time ago.labour cost is much more expensive in cn than in india amd africa
Labor cost in India is very cheap.
Yup, discount the incredible infrastructure and adaptive government policies that make the world's most efficient supply chain even though China is actually hampered by geography. It's all about labor cost...
@@misterbig9025 Not just labor costs, though. India is still a long way from obtaining the same pool of a low cost YET very high skill labor pool. That, and manufacturing infrastructure and supply chains.
@@richardlo4867 Right? The average commenter acts like they graduated with a degree in this field from Wharton.
The real issue Americans have with ‘globalization’ is jobs. It’s a proudly individualistic society without much of a safety net, so high-paying jobs are essential. The wealthy in the US prefer to import things rather than pay Americans to make them, and the job of politicians is to protect those wealthy people from the angry masses. So it’s China’s fault the US imports so much and is losing its manufacturing capacity.
more like runaway miliaty budget and bribes