China - Friend or Foe
Video Channel: Illuminati Silver
China - Friend or Foe?
Today is Monday 15th October 2018 and we are asking the Question is President Trump right in his approach to China and is it, a friend or foe?
Three days before U.S. President Donald Trump took office in January 2017, Chinese President Xi portrayed Beijing as the champion and defender of globalisation, at the Davos World Economic Forum amid rising fears of trade protectionism.
But how has China performed since then, especially since we now have rising U.S. tariffs, higher interest rates and capital flight from emerging markets, all of which threaten to erode global growth?
Well a little was revealed at the IMF and World Bank annual meetings in Bali last week.
Charles Dallara, former head of the Institute of International Finance is reported as saying:
“I think there is a broad view growing in the West that China has in some ways taken advantage of the system…..It reminds me of the view in the West of Japan in the 1980s, very much so.”
Now lets all be real here. That is a gross political understatement. China has to a large extent deliberately devalued its currency over the years, dumped low price products on International Markets, stolen intellectual property rights and restricted imports into its own country thereby protecting its own indigenous industries.
One major goal of President Trump’s trade war with China is to send more US-made products there than Chinese companies export here. He has attempted to deal with this by increasing tariffs on Chinese goods up to $200 billion worth.
Now despite this, just reported, America’s trade deficit with China reached a new high — $34.1 billion — in September. That’s a 13 percent increase compared to last year and is the second-straight record month after a deficit of $31 billion in August. That takes America’s trade deficit with China for the year to $225.8 billion — about $30 billion more than at the same point in 2017.
What is more concerning however is that no-one knows exactly what the outcome or repercussions of the tariffs and trade sanctions and any other actions the World economic community may take against China will be. If China is economically damaged, and the trade moves to the West and especially the US then we can see a powerhouse of physical precious metal purchases declining and the US dollar strengthening as a result of world trade rebalances.
What are your views, please do share them with our community.
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