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Title: Has China succumbed to the art of the deal?
Source: HotAir
URL Source: https://hotair.com/archives/2018/05/20/china-succumbed-art-deal/
Published: May 20, 2018
Author: Jazz Shaw
Post Date: 2018-05-20 11:28:13 by Tooconservative
Keywords: None
Views: 699
Comments: 13

How real is the deal? We may not know for a couple of weeks yet (if not longer) but recent talks between China and the United States have resulted in an initial announcement that Beijing will prioritize closing the trade gap with the U.S. by purchasing significantly greater amounts of goods. Included in the few details offered thus far is a plan to increase both agricultural and energy exports from America. While China’s Foreign Ministry disputed some of the target amounts, the rest of the announcement looks as if it may soon become a reality. (CNN)
Both parties said in a joint statement on Saturday that China has agreed to “significantly increase” purchases of US goods and services, in order to reduce the trade imbalance between the two countries. This was a top demand of the Trump administration during two days of trade talks in Washington with Chinese officials.

“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 said. “This will help support growth and employment in the United States.”

The pledge for more cooperation comes as the US and China, the world’s two largest economies, have threatened tens of billions of dollars in tariffs that could lead to a trade war.

Business Insider has another nugget from the Chinese announcement which, if confirmed, could be even bigger. They’re reporting that the agreement includes a pledge that China will “advance relevant amendments to its laws and regulations” to allow for more American imports, including changes to patent laws. (My emphasis)

If China is actually ready to start showing more respect for patent laws and intellectual property rights, that would be a game-changing moment in international relations. They’ve consistently been among the worst on the planet in terms of stealing the intellectual capital of others, engaging in reverse engineering and taking over manufacturing sectors through the use of cheaper labor and government subsidies.

So China must be getting something in return for all of this, right? One part of it had to be the already realized objective of saving ZTE, the major Chinese phone company that Trump already agreed to bail out. Beyond that, there’s probably some face-saving agreements in terms of trade in the other direction, but mostly they might just be looking to avoid a trade war with a White House administration which showed no signs of backing down. In fact, Chinese Vice-Premier Liu He, who was in charge of the negotiators in Washington, is quoted as saying, “The two sides reached a consensus, will not fight a trade war and will stop increasing tariffs on each other.”

President Trump needed to close the trade deficit (being one of his campaign promises) and the Chinese really don’t want to get into a massive trade war and deal with all manner of tariffs and restrictions. Trump had already begun putting such measures in place and it sounds like the Chinese didn’t see any way to call his bluff. (Because he apparently wasn’t bluffing to begin with.)

It’s also likely that neither side wanted to see the military escalation go any further. At the same time as Xi Jinping was working with Trump to broker a deal over North Korea, the Chinese were launching a new aircraft carrier group and acting increasingly hostile in the South China Sea. But that leads to one question in terms of what else China might have gotten in the bargain. Did the White House give some sort of indication that we weren’t going to be quite so “enthusiastic” when it comes to defending Taiwan now that their new government is making increasingly loud noises about independence?

Again, those details will need to wait. But something in the Sino-American relationship changed this weekend. I’m sure Trump’s critics will find plenty of room to complain, but it’s honestly difficut to see this as a negative development if the details turn out to be as advertised.

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#1. To: Tooconservative (#0) (Edited)

So China must be getting something in return for all of this, right?

They should. That's part of any negotiation. But expect the MSM to focus strictly on what we give away, and totally ignore what we get in return.

misterwhite  posted on  2018-05-20   11:44:41 ET  Reply   Trace   Private Reply  


#2. To: misterwhite (#1)

You suppose that they'll admit their predictions that Trump would either get nothing or start a big trade war were dead wrong?

Yeah, me neither.

Tooconservative  posted on  2018-05-20   11:47:06 ET  Reply   Trace   Private Reply  


#3. To: Tooconservative (#2)

You suppose that they'll admit their predictions that Trump would either get nothing or start a big trade war were dead wrong?

Yeah. Right after they admit their predictions that Trump would either get nothing or start a nuclear war with North Korea were dead wrong.

Hell, they're still salivating over the prospect that North Korea might cancel the talks. It's more important to them that Trump fail rather than eliminating a threat to the U.S. The headine would not read: "LA nuked!". It would be "Trump Failed!".

misterwhite  posted on  2018-05-20   12:02:09 ET  Reply   Trace   Private Reply  


#4. To: misterwhite (#3)

Hell, they're still salivating over the prospect that North Korea might cancel the talks. It's more important to them that Trump fail rather than eliminating a threat to the U.S.

They really cannot catch a break.

RedState: North Korea Continues to Move Toward Summit Meeting. Experts Hardest Hit

Kim threatened to quit but it looks like his reps are still moving solidly toward the Singapore summit. And we still haven't given them so much as a grain of rice. In the meantime, we get three political prisoners, Kim had to make nice with the Sorks, Kim is dismantling his (possibly defunct) nuke test site.

Trump is making his Grand Deal. I think it is trade and IP protection with China, denuclearizing Korea and bringing an end to the Korean War (which began when Trump was 4yo). You know how Trump loves the Grand Deal.

Can you imagine what libmedia will be saying if he pulls it off? LOL

I know: "But Russia-Russia-Russia. RUSSIA!"

The problem being that most of the public now thinks they're just playing a big anti-Trump game with Mueller and the constant negative press. Even the libmedia and Lefty comedians are waking up to realize that their continued attacks are helping Trump more than they're hurting him.

Tooconservative  posted on  2018-05-20   12:15:30 ET  Reply   Trace   Private Reply  


#5. To: misterwhite (#3)

The headine would not read: "LA nuked!". It would be "Trump Failed!".

If Trump got a Korean peace treaty, unification, and denuclearization, the headline would be "Crazed warmonger narrowly averts nuclear war by sheer luck".

Tooconservative  posted on  2018-05-20   12:58:11 ET  Reply   Trace   Private Reply  


#6. To: Tooconservative (#5)

If Trump got a Korean peace treaty, unification, and denuclearization, the headline would be "Crazed warmonger narrowly averts nuclear war by sheer luck".

No, the headline would be, "New Evidence Emerges on Stormy Daniels Deal"

misterwhite  posted on  2018-05-20   13:26:33 ET  Reply   Trace   Private Reply  


#7. To: misterwhite (#6)

Or "Trump paid Kim to pee on him in Pyongyang love hotel"

Vicomte13  posted on  2018-05-20   15:41:31 ET  Reply   Trace   Private Reply  


#8. To: Tooconservative (#0)

Has China succumbed to the art of the deal?

China has succumbed to the current reality, unless there is change things won't go as well as expected. China needs to learn, just as Japan did, that shoddy goods will have a market for a time, but now is the time to turn west and forget that great market in the east and make your goods the best. They have stolen the technology to do so and they have enormous capacity and energy

paraclete  posted on  2018-05-20   22:49:02 ET  Reply   Trace   Private Reply  


#9. To: paraclete (#8)

China has succumbed to the current reality, unless there is change things won't go as well as expected. China needs to learn, just as Japan did, that shoddy goods will have a market for a time, but now is the time to turn west and forget that great market in the east and make your goods the best. They have stolen the technology to do so and they have enormous capacity and energy

Well, it isn't just cheap shoddy goods. As with Japan, China did start with dicey products but they have improved. The Chinese have mastered a lot of engineering and scientific disciplines.

One thing I noticed that a few informed trade guys were mentioning is that this trade deal with its emphasis on IP would likely really hurt the more high-end Chinese knockoffs of popular Western products.

For China to continue to grow and develop, they need more internal economy and more integration with the world economy. They are the West's workshop now but they want to move beyond being a workshop economy to be a true First World country. I think Trump is appealing to them on that level.

China does have increasing amounts of its own IP to protect. So time and circumstances have conspired to bring about an opening for Trump on the trade imbalance and IP issues with China. And he might manage a Grand Deal with Korean denuclearization and a peace treaty thrown in.

Tooconservative  posted on  2018-05-21   10:36:43 ET  Reply   Trace   Private Reply  


#10. To: Tooconservative (#0) (Edited)

Survey says....

U.S. Suspends Tariffs on China, Stoking Fears of a Loss of Leverage ...

https://www.nytimes.com/2018/05/20/us/politics/mnuchin-kudlow-china- trade.html
1 day ago -  “We're putting  the trade war on hold,” Steven Mnuchin, the Treasury ... the suspension oftariffs could undercut Mr. Trump's  leverage and thrust ...

China trade war 'on hold' as Trump pauses tariffs – POLITICO

https://www.politico.eu/.../steven-mnuchin-donald-trump-china-trade- war-on-hold-as-...
13 hours ago -  Mnuchin (right) said that the Trump  administration will hold  off from imposing ... “Right now, we have agreed to put tariffs on  hold while we try to ...
 
NOPE.

VxH  posted on  2018-05-21   19:03:09 ET  Reply   Trace   Private Reply  


#11. To: VxH (#10)

U.S. Suspends Tariffs on China, Stoking Fears of a Loss of Leverage ...https://www.nytimes.com

Survey says "China also put their tariffs on hold".

So is China "stoking fears of a loss of leverage" as a result?

Not according to the NYSlimes. It only hurts America's leverage if they put tariffs on hold but it does not hurt China's leverage if they do the same.

Maybe you should update your memes. Family Feud is so 20th century.

Tooconservative  posted on  2018-05-22   1:04:31 ET  Reply   Trace   Private Reply  


#12. To: Tooconservative (#11)

Maybe you should update your memes.

Maybe Donaltard should've sprinkled magic fairy dust on the American Steel and Aluminum producing industries - BEFORE - slapping tarriffs on Chinese Steel and Aluminum, and screwing American manufacturers and consumers of products... made in the USA out of Chinese Steel and Aluminum.

Oops!

VxH  posted on  2018-05-23   18:47:39 ET  Reply   Trace   Private Reply  


#13. To: VxH (#12)

Those tariffs were threatened but they agreed with the Chinese to cancel this round of tariffs on each other and reach a new trade balance.

We'll see if the Chinese are serious. As with North Korea, Trump has gotten further than his predecessors have in decades. And China has refused to even really discuss its IP piracy and making significant imports by letting American ag products into China. Now China says it will improve on those things. Well, we'll see.

You do recall Trump saying he was going to renegotiate these trade deals and trade balances, don't you? Well, this is the kind of thing he was talking about. Ditto for NAFTA with Mexico and Canada and for that South Korean trade treaty. Trump is charging hard and throwing a few elbows. What did you expect?

Maybe you think Hillary could do better? That was your other choice other than the longshot third parties.

Tooconservative  posted on  2018-05-23   19:53:28 ET  Reply   Trace   Private Reply  


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