|Patrik Stalloarz | AFP | Getty Images|
China's President Xi Jinping (L) and US President Donald Trump attend a working session on the first day of the G20 summit in Hamburg, northern Germany, on July 7, 2017.
China trade relations get nastier, but US officials hold out hope for NAFTA deal
· U.S. and Chinese trade relations are getting nastier, as the U.S. threatened to bump up its proposed 10 percent tariffs to 25 percent on $200 billion in Chinese goods.
· The threat came as progress appears to be made in U.S. talks with Mexico toward a new North American Free Trade Agreement, which would be a much needed win for the Trump administration.
· China ramped up its own rhetoric, saying it would retaliate if the U.S. does not stop escalating the trade war.
Patti Domm | @pattidomm
Published 5:56 PM ET Wed, 1 Aug 2018 Updated 17 Hours Ago … for more, go to https://www.cnbc.com/2018/08/01/nafta-may-make-progress-as-us-china-trade-divide-widens.html
China makes one of many moves to come to counter US’ global trade hostility
https://www.youtube.com/watch?v=MJLpGiHhr8E&feature=share (China's Economic Miracle | The Rise of China Mini-Documentary | Episode 1)
KUALA LUMPUR (Aug 2018): No matter how much the Donald Trump-led US slaps sanctions and tariffs on Chinese goods, China cannot be destroyed economically.
China’s domestic and global economic and technology foundations are already too strong and solid for the US to destabilise.
In fact, the more the Trump US continues to rock the global economic order, the more it alienates itself from the rest of the world.
And the US today is not the super strong US of the 20th Century.
The 21st Century US is a nation saddled with a humongous national debt of between US$20 trillion and US$222 trillion. (Read this for context: https://ilovemalaysiachinasilkroad.blogspot.com/2018/01/is-us-debt-us20-trillion-or-us222.html - Is the US debt US$20 trillion or US$222 trillion?)
While China does not depend on the US for financial or technology support, the same cannot be said about the Americans.
The US has also to contend with the combined China-Russia Combo in the world economic and military order.
The US has also to contend with China’s multi-trillion-dollar Belt Road Initiative (BRI) that is supported by Russia and 69 other cities and countries in the construction of trans-border rail, road, sea and air links to facilitate business and trade activities.
The more the US wastes its time, energy and resources to demonise both China and Russia, the Americans will be inflicted with more domestic and international economic woes.
To counter the US’ global economic hostility, China is not only looking into its domestic issues and measures to counter the trigger-happy sanction-tariff slapping Trump.
China is also looking into and implementation of global fiscal and measures to make it easier for global traders and business.
I Love Malaysia-China Silk Road thus found the Bloomberg report titled China says regulators will work to unclog monetary transmission refreshing in the ongoing US-China trade war development.
Read on the details of the Bloomberg report reproduced below and also view the video clip link on the Rise Of China:
"China says regulators will work to unclog monetary transmission
Friday, 3 Aug 2018
11:58 AM MYT
The nation needs to balance between stabilizing economic growth and preventing risks, according to a statement published on the State Council’s website on Friday, following a meeting of the Financial Stability Development Committee led by Vice Premier Liu He.
The statement echoed one issued after a Politburo meeting earlier this week, namely that Chinese policy makers are focusing more on supporting economic growth amid risks from a campaign to reduce debt and the trade standoff with the U.S.
The statement said more work will be done to enhance financial institutions’ support to small-and-micro-sized businesses while ensuring the overall money supply is well controlled. It also vowed to make efficient use of fiscal policy, including tools such as tax cuts and government bond insurance.
The committee pledged to continue financial reforms while vowing to keep cracking down on financial malpractice and illegal financial institutions. The panel also studied structural deleveraging and ways to promote balance of international payments, according to the statement, without giving details. - Bloomberg/The Star Online"
|An employee counts 100-yuan notes at a bank in Nantong in China's eastern Jiangsu province ( AFP/Getty Images )|
China vows to retaliate over US tariffs 'blackmail' as trade war escalates
Trump administration reportedly considering additional tariffs on $200bn worth of Chinese goods
Emily Shugerman New York @eshugerman
1 day ago
China has accused the US of “blackmail” as the Trump administration considers more than doubling its proposed tariffs on Chinese goods amid an escalating trade war. President Donald Trump is reportedly considering upping his proposed tariffs on $200bn worth of Chinese goods from 10 per cent to 25 per cent. Chinese Foreign Ministry spokesman Geng Shuang told reporters that Beijing would retaliate to any additional tariffs, adding that "US pressure and blackmail won't have an effect”… for more, got to https://www.independent.co.uk/news/business/news/trump-china-tariffs-trade-war-latest-beijing-respond-blackmail-a8473171.html