Hey Nevertrumpkins: Weren’t you predicting China would eat our lunch over this trade war?
Predictably, one of the most bipartisan replies to Trump’s first two years was the horrified reaction to Trump picking a trade fight with China.
When Forbes — by no means a bastion of rock-ribbed Conservativism — opens with a paragraph like this, you pay attention.
China is still the world’s No. 2 economy and is still the monster of emerging markets, but regardless of those bonafides, Xi Jinping’s country is losing the trade war in nearly every way imaginable.
And won’t the NeverTrumpers hate to read THIS line in that reputable financial magazine:
Donald Trump can be pleased. His policies have brought China to its knees.
Huawei got a black eye when their executive was arrested in Canada for breaking US sanctions law, and another one when they got busted in Poland seeking state secrets.
The world is waking up to the fact that China is NOT a fair player. What Trump was saying about their unfair practices is now being uncomfortably spotlighted for all the world to see.
Huawei’s latest bad headlines show how China tech companies may have risen to prominence by copying foreign technologies in joint venture deals or through white-collar criminal actions such as intellectual property theft and corporate espionage. Huawei is one of China’s most important, private tech firms. It rivals Cisco Systems worldwide.
Thanks in part to Huawei, China is getting beat on the public relations front in the trade war.
What else are they losing?
They figured they had Europe all locked up. Turns out, Europe doesn’t actually like China very much.
The stock market doesn’t tell us too much in their government-controlled economy, but for what it’s worth, only Turkey’s stock exchange has taken a bigger hit than the 30% China’s markets have dropped in the last 12 months.
“Economy hitting the pause button”.
What does Forbes think of the prospects?
“If you need any evidence how the trade spat is impacting a country’s economic health then look no further than China trade. The lower export number means lower jobs, which means another direct impact on the (Chinese) economy. Donald Trump can be pleased. His policies have brought China to its knees.”
Today’s export growth data also suggest that the recent strength of the Chinese renminbi might be short-lived. Xi may be more eager to strike a trade deal with the U.S. if the economy worsens beyond expectations.
And wasn’t that the point all along?
Getting a trade deal that didn’t screw over the American Public?
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