Title: China agrees to ‘substantially reduce trade deficit’ to avoid trade war with US Post by: Hydrogen on May 20, 2018, 10:22:30 PM Quote The US and China have agreed to begin bilateral trade talks, with Beijing committing to “substantially reduce” the trade deficit between the countries by boosting the amount of goods it purchases from America. A joint statement sent from the White House announced they had reached “consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China”. The announcement comes amid fears that President Donald Trump’s tough talk on trade could spark a trade war between two of the world''s largest economic power houses. The development comes just one day after the US and China appeared at odds over a claim from White House Economic Adviser Larry Kudlow, who said that China had agreed to reducing its deficit with the US by $200bn. It is not clear exactly how much China actually plans on reducing that deficit, however, and negotiators from both countries reportedly went back and forth through the night as they crafted the exact language of the joint statement, according to the Wall Street Journal. Mr Trump has remained optimistic that a palatable agreement will be made, and has regularly boasted that his good relationship with Chinese President Xi Jinping is an asset that will help deliver that promised reduction. “President Xi and I will always be friends, no matter what happens with our dispute on trade,” Mr Trump tweeted last month as the talks of a potential trade war swirled. The trade deficit has grown recently, and has proved to be a difficult issue to resolve between Washington and Beijing for years. Data from the Department of Commerce shows that the imbalance reached a record high of $375 billion in 2017. The tough stance Mr Trump has taken on the deficit with China has led to those in some areas of the American agricultural industry to express concern that a potential trade war with China could ravage their businesses, since China is a main trading partner for American agricultural exports. The statement released Saturday described a cut in the deficit as being mutually beneficial to both countries’ interests. “To meet the growing consumption needs of the Chinese people and the need for high-quality economic development, China will significantly increase purchases of United States goods and services,” the statement reads. “This will help support growth and employment in the United States.” The statement says that the US will send a team to China to negotiate the agreement, and included American agricultural and energy exports as priorities. Those talks could be held as soon as late next week, according to the statement. Mr Trump set off fears of a trade war by saying he was considering tariffs on up to $150bn worth of Chinese products. That proposal was met with stiff threats from Beijing, which threatened an equal response targeting American exports like soybeans, cars, and aircraft. The statement did not mention Chinese telecommunications manufacturer ZTE, which was hit with sanctions for violating a ban on sending products to Iran and North Korea that include parts made in the United States. The president has said on Twitter that he has instructed the US government to consider reversing those sanctions, which were imposed last month and shut down the company’s operations. https://www.independent.co.uk/news/world/americas/us-politics/us-china-trade-war-trump-negotiations-reduce-deficit-white-house-a8359816.html Some sources claim china agreed to reduce the trade deficit by $200 billion others claim the real number is $400 billion. There is conflicting data. More negotiations are in order before the real numbers are known. Many media sources claimed Trump revealed incompetence by addressing the trade deficit. They predicted a hundred different catastrophes which would arise as a result of Trump's actions. Looks like all of those "experts" were 100% wrong if this does work out in favor of the united states, which appears to be the way things are going. I hope people recognize in the future how our news media often works as the enemy of the people. The media often convinces us to oppose things which are the best for society. Its nice to see clear headed businessmen work things out without resorting to war, violence or anything drastic/immature. If nothing else, Trump is showing he is open minded to thinking outside-the-box and considering every option on the table. That could mean he will be open to bitcoin and crypto adoption in the future. This could be good for the US economy. The more money americans have under a healthier economy perhaps translates to more bitcoin being bought. Not certain what crypto implications of this are as of yet. Good news: The US china economic trade war apocalypse appears to have been averted for now. Title: Re: China agrees to ‘substantially reduce trade deficit’ to avoid trade war with US Post by: First77 on May 21, 2018, 06:58:18 AM Look like Gold is going to $2100/ounce and Silver $80/ounce with all big news in the business world.
China with 819 billionaires, Chinese government is encouraging investments in Gold and Silver since year 2012, and solar energy/solar farms have been huge business worldwide since 2012. A average solar panel has 20 grams silver. Title: Re: China agrees to ‘substantially reduce trade deficit’ to avoid trade war with US Post by: amishmanish on May 21, 2018, 02:41:55 PM --snip-- If nothing else, Trump is showing he is open minded to thinking outside-the-box and considering every option on the table. That could mean he will be open to bitcoin and crypto adoption in the future. This could be good for the US economy. The more money americans have under a healthier economy perhaps translates to more bitcoin being bought. Not certain what crypto implications of this are as of yet. Good news: The US china economic trade war apocalypse appears to have been averted for now. I am not a Trump fan. The view that we get from the liberal media is mostly him being a person with a foul mouth, no respect for women and being a demagogue. This though seems to be a win for him. Why would China agree to unilaterally reduce the trade deficit. The trade deficit means the Americans are buying more form them. The Chinese would continue to get a lot of USD if the deficit is maintained. Their agreeing to reducing the deficit means they don't care about the extra USD (Foreign reserves) anymore.. 8) That can mean only one thing. The Chinese are bullish on Bitcoin. They have the miners, they have the users and now they don't want any more USD. What else could it possibly mean??!! Wild assumptions aside, I think Chinese can not be trusted to be doing this only for sane business. If sane business was their only aim, they wouldn't have been investing billions in research and reverse-engineering American equipment to reach the same level as the USA in terms of stealth planes, warships etc. Chinese have been known to be the back-stabbers who will wait out and be all nice and warm till the moment they decide to takeover. They can truly be precise and ruthless in this. Title: Re: China agrees to ‘substantially reduce trade deficit’ to avoid trade war with US Post by: joebrook on May 21, 2018, 03:12:12 PM --snip-- If nothing else, Trump is showing he is open minded to thinking outside-the-box and considering every option on the table. That could mean he will be open to bitcoin and crypto adoption in the future. This could be good for the US economy. The more money americans have under a healthier economy perhaps translates to more bitcoin being bought. Not certain what crypto implications of this are as of yet. Good news: The US china economic trade war apocalypse appears to have been averted for now. I am not a Trump fan. The view that we get from the liberal media is mostly him being a person with a foul mouth, no respect for women and being a demagogue. This though seems to be a win for him. Why would China agree to unilaterally reduce the trade deficit. The trade deficit means the Americans are buying more form them. The Chinese would continue to get a lot of USD if the deficit is maintained. Their agreeing to reducing the deficit means they don't care about the extra USD (Foreign reserves) anymore.. 8) That can mean only one thing. The Chinese are bullish on Bitcoin. They have the miners, they have the users and now they don't want any more USD. What else could it possibly mean??!! Wild assumptions aside, I think Chinese can not be trusted to be doing this only for sane business. If sane business was their only aim, they wouldn't have been investing billions in research and reverse-engineering American equipment to reach the same level as the USA in terms of stealth planes, warships etc. Chinese have been known to be the back-stabbers who will wait out and be all nice and warm till the moment they decide to takeover. They can truly be precise and ruthless in this. Title: Re: China agrees to ‘substantially reduce trade deficit’ to avoid trade war with US Post by: amishmanish on May 21, 2018, 04:15:28 PM Without a doubt even with all the scrutiny from liberal and the media trump has shown that he is indeed working for the American people, his tough approach as a businessman is why the Chinese agreed to it. Umm. I had just been making a post about the Chinese man somewhere. Here it is (https://bitcointalk.org/index.php?topic=4070029.msg38043205#msg38043205) where people are talking about the new ranking taken out by china with ETH at number 1 and Bitcoin at number 13. It does not make sense but China still does these things. It is because China is like this shrewd, self-preserving businessman who does everything with a long term plan. They are experts at making it sound like they are doing it earnestly. But they always have a plan. How would you say has Trump's "tough businessman" approach led to Chinese agreement. Trump basically threatened a trade war, something nobody else would do. The idea is so illogical that the chinese must have been caught off-guard. They couldn't have prepared for such an orthodox, protectionist measure. It does seem to have worked for the time being. But seriously, This one combined with the new ranking post, I think my conspiracy theory does hold weight. It has been a long time ambition of China to replace USD as a reserve currency with Renmibi. If it turns out to be bitcoin, I think they'll take that deal too. Title: Re: China agrees to ‘substantially reduce trade deficit’ to avoid trade war with US Post by: okala on May 21, 2018, 06:13:53 PM This is better for them as many of the products from China could have been rejected by United States of America government. I have been said this that America government can still handle many governments as the wants.
Title: Re: China agrees to ‘substantially reduce trade deficit’ to avoid trade war with US Post by: Harlot on May 21, 2018, 06:42:50 PM What is it to lose anyway? I mean companies from both the U.S.A and China are both benefiting from each other. American Citizens have factories in China while Technological Companies in China are borrowing tech from the U.S.A. only staying with the trade deficit would just hurt their own economic growth. The trade deficit reduction will increase both the countries' national income as companies from them will surely take advantage of the new rates. This is clearly a move where both benefit I am wondering why the leaders are acting up like they don't want this trade deficit reduction in the first place.
Title: Re: China agrees to ‘substantially reduce trade deficit’ to avoid trade war with US Post by: amishmanish on May 22, 2018, 05:07:29 PM --snip-- The trade deficit reduction will increase both the countries' national income as companies from them will surely take advantage of the new rates. This is clearly a move where both benefit I am wondering why the leaders are acting up like they don't want this trade deficit reduction in the first place. This is not a move where both will benefit. USA has the trade deficit while China has the trade surplus. China has agreed to reduce the trade deficit by buying more "Agricultural goods" from America. In return it avoids the trade barriers that were being threatened. These trade barriers were supposed to discourage the manufacturing of High technology products in China by American companies. An interesting aspect of American companies taking the advantage of cheap manufacturing in China is that the Chinese insist on obtaining the Know-how of manufacturing. Essentially they get to piggyback on the technological improvements and design made by the Americans. in return, Americans get to sell more wheat to them. How is this supposed to be a good deal?? China will never leave its agenda of world domination. It prepares an army of zombie workers fed on state propaganda, all the while ensuring that it can use reverse engineered technology to advance their own research by many more years. Like i said, the Chinese act like a single, focussed, selfish man. They are very good at doing and saying whatever is necessary for the moment. |