Friday, February 17, 2017

Trump's Trade War with China -- Who would Really Win ?



Who Would Win a US-China Trade War? | China Uncensored
President Trump's economic protectionism could lead the US and China into a trade war. So who would come out on top?










Transcript : On this episode of China Uncensored, 0:01 everybody's a winner! 0:03 Wait, what's that, Shelley? 0:10 Welcome to China Uncensored, 0:12 I'm your host, Chris Chappell. 0:13 Trade Wars. 0:14 That's more than just George Lucas's unproduced spin-off 0:17 of the Star Wars prequels. 0:19 According to the leaked script, 0:21 it follows Jar Jar Binks as he infiltrates the Trade Federation. 0:25 Strange that it never got made. 0:27 0:28 Anyway, trade wars. 0:29 That's what some experts are afraid might happen 0:31 if President Trump carries out his promise to impose a tariff, 0:35 or tax, on goods made in China. 0:38 He blames China’s unfair trade practices 0:41 for the loss of American manufacturing jobs. 0:44 Here today to talk about this issue 0:45 is the only person at China Uncensored 0:48 with an economics degree from Trump's own alma mater, 0:51 University of Pennsylvania, Shelley Zhang. 0:54 Thanks, Chris. 0:55 How likely is it that Trump is going to impose tariffs on China? 1:00 Oh, he's definitely going to do it. 1:02 Really? 1:03 100 percent. 1:04 How can you be so sure? 1:05 I'm not sure about anything anymore. 1:07 Ok, yes President Trump can be a smidge unpredictable. 1:12 But railing against unfair trade practices 1:14 is kind of his jam. 1:16 In 1987, 1:17 he took out this full-page ad in the New York Times. 1:21 In it, 1:22 he criticized Japan for taking advantage of the US 1:24 with its weak yen and trade surpluses, 1:27 and suggested that we "tax" Japan and other countries 1:30 for the services the US provides, 1:32 like keeping the world safe. 1:33 Sound familiar? 1:34 I guess China is the new Japan? 1:37 Yes. 1:38 Just a quick find and replace, 1:39 and he can still use the same speech 1:41 30 years later. 1:42 Ok, 1:43 so when President Trump imposes tariffs on China, 1:46 what effect will that have? 1:47 Will that start a trade war? 1:49 That I don't know. 1:51 It really depends on how high the tariff is, 1:53 and how broadly it's applied. 1:55 Trump has talked about wanting to impose a 45% tariff 1:59 on all Chinese-made goods. 2:01 Something that big would probably trigger China 2:03 to impose its own tariffs on American goods in retaliation. 2:07 That could lead to a trade war. 2:09 Of course, you could argue that China 2:11 already started the trade war years ago. 2:14 You know, when it did things like 2:15 artificially lowering the price of their products 2:17 through export subsidies, 2:19 stealing intellectual property, 2:21 and setting up ways to keep US companies 2:23 from competing in China. 2:25 That's definitely how the Trump administration 2:27 sees it. 2:28 Well, more important than who starts it, is who finishes it. 2:32 Who wins the US-China trade war? 2:35 Experts are divided, Chris. 2:36 Some say it will hurt America. 2:39 Others say China will lose. 2:40 Meanwhile, Chinese state-run media 2:43 say that China would totally not get hurt by a trade war. 2:47 And, like, it's not going to happen. 2:49 Plus why would the US want a stupid trade war anyway? 2:53 Which means state-run media also think China will lose. 2:57 So what you're saying is, America wins. 3:00 Well, it's complicated. 3:02 Americans will lose in that tariffs mean 3:04 companies will raise prices on Made in China stuff. 3:07 So we'll have to pay higher prices on most stuff at Wal-Mart, 3:10 as well as things like appliances and consumer electronics. 3:14 But will tariffs bring American jobs back? 3:17 They might bring some jobs back. 3:19 But not necessarily the same ones that left. 3:22 Jobs might require higher technical skills, for example. 3:25 Low-skill manufacturing jobs 3:27 probably aren't going to come back. 3:29 Lots of those jobs have been replaced by technology. 3:33 And US companies can just move to other Third World countries 3:36 with cheap labor. 3:37 Like the Donald J Trump Signature Collection 3:39 has already started moving from China to other countries. 3:43 Yes. 3:44 Although in a recent speech, 3:45 Trump said he will incentivize US companies with tax breaks 3:48 and other things to come back to the US. 3:51 Tariffs could also create different jobs. 3:53 For example, in industries where China has a virtual monopoly, 3:57 like on rare earth minerals, 3:59 which are needed to make electronics. 4:01 Tariffs could cause a huge shortage in the short term, 4:04 but in the long term, 4:05 it could encourage American companies 4:06 to start mining rare earth minerals. 4:09 What about China? 4:10 China has more to lose 4:11 because they sell us more stuff 4:13 than we sell them. 4:14 And in a trade war, 4:16 generally the country with the trade surplus 4:18 gets hit the hardest. 4:19 China could lose millions of export and manufacturing jobs. 4:23 And at a time when economic growth is slowing, 4:25 that could cause not only huge problems with their economy, 4:29 but it could lead to political instability as well. 4:32 After all, 4:33 one of the big reasons 4:34 people put up with the Communist Party 4:35 is economic growth. 4:36 Very true. 4:37 And if China loses more, 4:39 does that mean America wins? 4:41 It's not so cut and dried. 4:43 There are other things that would probably happen. 4:45 Like the cheap manufacturing that's currently in China 4:47 would move even faster to places like Southeast Asia. 4:50 And it might create a gray market 4:52 where goods are manufactured in China 4:54 but shipped to another country, 4:56 where they are officially exported to the US 4:58 to avoid the tariffs. 4:59 Are you really saying that people will find loopholes 5:02 to avoid taxes? 5:04 Anyway, I guess we'll have to wait and see what happens. 5:07 Well, we actually have kind of a test case. 5:11 What I like to call the Rubber Chicken Skirmish of 2009. 5:14 That's when President Obama set a tariff 5:18 of 35% on Chinese tires. 5:21 It did manage to save 1,200 US tire jobs 5:24 and increased US tire production. 5:27 However, tires also got way more expensive 5:29 for US consumers. 5:31 And China raised retaliatory tariffs on chicken parts 5:34 from the US, 5:35 which cost chicken producers about 1 billion dollars. 5:38 I'm glad that wasn't actually about rubber chickens. 5:41 I was starting to worry about you. 5:43 Would it help if I told you I didn't sleep last night? 5:47 No? 5:48 Ok, one thing to note here Chris 5:50 is that I have been talking about this tariff in generalities, 5:53 since Trump hasn't talked yet about the specifics 5:56 of his plan. 5:57 However, economist Peter Navarro, 5:59 who’s the new director of Trump's National Trade Council, 6:02 has defended the tariff. 6:03 He says that it would be applied not on everything, 6:06 but with a "flexible case-by-case approach.” 6:09 And that tariffs would be used strategically 6:11 to negotiate with China. 6:13 Remember, 6:14 the Chinese regime is scared to lose manufacturing jobs— 6:17 because it could affect China's political stability. 6:20 That means the threat of a trade war 6:22 could be a powerful bargaining chip for the US. 6:25 So, if these tariffs are targeted to give the US 6:28 greater political leverage over China 6:30 and expose the ways the Communist Party 6:32 has gamed the system, 6:34 they could maybe get the Party 6:35 to change some of their trade practices. 6:37 And that would make the tariffs successful, 6:39 even if they don't bring back millions of manufacturing jobs. 6:43 So what you're saying is, America wins. 6:46 Trade isn't exactly a zero sum game, Chris, and... 6:49 Ok, you know what, yes, America wins. 6:53 Thanks, Shelley. 6:54 That's what I like to hear. 6:56 Go get some sleep. 6:58 And thank you for watching this episode of China Uncensored. 7:01 What do you think of the possible US-China trade war? 7:04 Leave your comments below. 7:05 Once again, I'm your host, Chris Chappell. 7:07 See you next time.








The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

1 comment:

Blog Archive

“Control oil and you control nations; control food and you control the people.” Henry Kissinger


once a standing army is established, in any country, the people lose their liberty.”
George Mason

“Military men are dumb, stupid animals to be used as pawns for foreign policy.”
Henry Kissinger

“If you are an ordinary person, then you can prepare yourself for war by moving to the countryside and building a farm, but you must take guns with you, as the hordes of starving will be roaming. Also, even though the elite will have their safe havens and specialist shelters, they must be just as careful during the war as the ordinary civilians, because their shelters can still be compromised.”
Henry Kissinger

"We don't let them have ideas. Why would we let them have guns?" Joseph Stalin

The people who cast the votes decide nothing. The people who count the votes decide everything.
Joseph Stalin

Governments keep a lot of secrets from their people . . .
Why aren't the people in return allowed to keep secrets
from the government?

PHILIP ZIMMERMAN, DER SPIEGEL

“Some call it Communism, I call it Judaism.”

Rabbi Stephen Weiss

“Anti-Communism is Anti-Semitism.”
Jewish Voice, July - August 1941

Taxing People is Punishing Success
UNKNOWN

There's the rich, the poor, and the tax payers...also known as the middle class. Robert Kiyosaki

The Tax you pay is The Bill for Staying Stupid

Stefan Molyneux


“The modern banking system manufactures money out of nothing. The process is, perhaps, the most astounding piece of sleight of hand that was ever invented. Banks can in fact inflate, mint and un-mint the modern ledger-entry currency.” Major L L B Angus

The few who understand the system will either be so interested in its profits or so dependent on its favours that there will be no opposition from that class, while on the other hand, the great body of the people mentally incapable of comprehending the tremendous advantage that capital derives from the system will bear its burdens without complaint and perhaps without even suspecting that the system is inimical to their interests.
The Rothschild Bros

"Debts must be collected, bonds and mortgages must be foreclosed as rapidly as possible. When, through a process of law, the common people lose their homes they will become more docile and more easily governed through the influence of the strong arm of government, applied by a central power of wealth under control of leading financiers.

This truth is well known among our principal men now engaged in forming an imperialism of Capital to govern the world.

By dividing the voters through the political party system, we can get them to expend their energies in fighting over questions of no importance. Thus by discreet action we can secure for ourselves what has been so well planned and so successfully accomplished."

USA Banker's Magazine, August 25 1924


Cutting Tax Rates stimulates Economic Growth creates more Profit , more Jobs and therefore The Treasury ends up with more Tax Money
UNKNOWN

Taxation is legalized Theft
UNKNOWN

"The Objective of the Bank is not the control of a conflict , it's the control of the debt that a conflict produces . The real value of a conflict , the true value is in the debt that it creates . You control the debt , you control everything . this is THE VERY ESSENCE OF THE BANKING INDUSTRY , to make us all , whether we be nations or individuals , SLAVES TO DEBT " An UNKNOWN Banker

Patriotism is the last refuge... to which the scoundrel clings .... Steal a little and they throw you in jail ..steal a lot and they make you king ....

Bob Dylan


"Corporations are stealing billions in tax breaks, while the confused, screwed citizenry turn on each other. International corporations have no national allegiance, they care only for profit." Robert Reich


There is NO political answer to a spiritual problem!
Steve Quayle


Po
litical Correctness is a Political Stand Point that does not allow Political Opposition , This is actually The Definition of Dictatorship
Gilad Atzmon

The modern definition of racist is someone who is winning an argument with a liberal
Peter Brimelow


When People lose everything and have nothing left to lose , They Lose It !

GERALD CELENTE

Your Greatest Teacher is Your Last Mistake
DAVID ICKE

The one who Controls the Education System , Controls Perception
UNKNOWN

"The world will not be destroyed by those who do evil, but by those who watch them without doing anything."

Albert Einstein

In The Left Nothing is Right & in The Right nothing is Left
UNKNOWN


No man escapes when freedom fails; The best men rot in filthy jails. And those that cried 'Appease! Appease!' Are hanged by those they tried to please
UNKNOWN

Freedom is not Free
UNKNOWN

Don't Steal The Government Hates The Competition

Ron Paul

"Buy The Rumor , Sell The Fact " Peter Schiff


You can love your Country and not your Government

Jesse Ventura


" The Government Works for ME , I do not answer to them They Answer to ME "
Glenn Beck

"Tyranny will Come to Your Door in a Uniform "
Alex Jones

"The Government is not The Solution to our Problems , The Government is The Problem "

Ronald Reagan


"The price good men pay for indifference to public affairs is to be ruled by evil men." Plato


The world is a tragedy to those that feel, and a comedy to those that think...Beppe Grillo

"The people should not fear the government for it is the government who should fear the people" UNKNOWN

"If You are looking for solutions to the world's problems , look in the Mirror , You Are The Solution , You have the power as a human being on this planet " UNKNOWN

"They don't control us , We empower them " UNKNOWN

"Serial Killers do on a Small Scale What Governments do on a large one..."

Serial Killer Richard Ramirez

There is a Class War going on in America, & unfortunately, my class is winning." Warren Buffet

"When the people fear their government, there is tyranny; when the government fears the people, there is liberty."

Thomas Jefferson

"College is a waste of Money"
Albert Einstein

Schools manufacture people who think that they're smart but they're not.
Robert Kiyosaki

Education is what you learn after you leave School
Robert Kiyosaki

" ‏Schools were designed to create employees for the big corporations."
Robert Kiyosaki


"If a law is unjust, a man is not only right to disobey, he is obligated to do so" Thomas Jefferson

Dissent is the highest form of patriotism
Thomas Jefferson

“True education makes you feel stupid. It makes you realize you have so much more to learn.” Robert Kiyosaki


"One day your life will flash before your eyes. Make sure it's worth watching." - Gerard Way

"Aspire not to have More but to be More "
UNKNOWN

The losers in life think they have all the answers. They can’t learn because they’re too busy telling everyone what they know.
Robert T. Kiyosaki ‏

"Failure is simply the opportunity to begin again. -This time more intelligently." Henry Ford

What You Own Owns You
UNKNOWN

If you expect the government to solve your problems, you have a problem. Robert Kiyosaki

"Those who give up their liberty for more security neither deserve liberty nor security." Benjamin Franklin

"None are more hopelessly enslaved than those who falsely believe they are free.” -
Johann Wolfgang von Goethe

"Always trust someone who is seeking the truth , never trust someone who found it" Jordan Maxwell

Be The Change you want to see in The World
UNKNOWN

Failure inspires winners but defeats losers
Robert Kiyosaki ‏

“If you are planning for a year, sow rice; if you are planning for a decade, plant trees; if you are planning for a lifetime, educate people” A Chinese Proverb

"First they came for the Socialists, and I did not speak out--
Because I was not a Socialist.

Then they came for the Trade Unionists, and I did not speak out--
Because I was not a Trade Unionist.
Then they came for the Jews, and I did not speak out--
Because I was not a Jew.
Then they came for me--and there was no one left to speak for me." UNKNOWN