US and China mull new trade talks

Via Bloomie:

After the U.S. unveiled a list of Chinese imports worth $200 billion that could face higher duties, China’s Vice Minister of Commerce Wang Shouwen called on his U.S. counterparts to resolve the conflict through a new round of bilateral negotiations. While that came amid fresh threats of retaliationfrom Beijing, it matches a willingness from the Trump team to resume talks at a high level, according to a person familiar with the administration’s thinking.

China is really bonkers to not do a deal.

Comments

  1. They’d lose face.

    They can’t capitulate without a fight.

    Which is why I think this might end up with huge unemployment in China and unrest.

    Which means popcorn time for us. Nothing like being detained at the airport as you try to flee and being told to “divest your foreign assets, or face fraud charges (capital crime in some cases).”

    Also why despite crackdowns, bitcoin etc is a globally viable “wealth-vpn.”

    All you need is a someone to trade your assets for btc at one end and someone to trade for cash at the other. Plus remembering 20 words in order. Not that hard. With a few jurisdictions effectively legalising it, even with the volatility, you’ll still lose a lot less than if you’re caught with gold up your ass!

  2. China can’t do a deal. Read the January 2018 US Trade Repreantatice report on China’s compliance with its WTO obligations. To comply means to stop intellectual piracy, to open its economy and reform SOEs to liberalise its capital account – all promises the Chinese made and broke – to do so would trigger a credit crisis.

  3. US is in lot better position than China as US (Trump) has nothing to lose. But here I assume Corporate America is willing to accept lower margins by moving manufacturing back to US. I think Trump will get some mysterious illness soon..

  4. China has the largest market on the planet and still room to grow vs the more mature economies, not to mention they don’t spend anywhere near the same % of GDP on military inc et al. How much has been spent in the last few decades on military adventurism with a side of looting by private contractors and social factors due to solider psychological ramifications – crap even they were looted by FIRE sector types.

    In fact they have a logistical advantage over the U.S. geographically. Considering the posture of the Cheeto in belittling NATO members for not bucking up enough, considering the stop loss gurgler for other more productive social economic activity, one wonders why they are foot dragging.

    Its sad to say but during the neoliberal period the U.S. and a few other anglophone country’s have looted not only 2nd and 3rd world country – but themselves for a quick buck, for the financial elites, aided and abetted by the ideological dogma of libertarian economics – take a bow….

    Look the day that China invades some country they previously supported and then turn around on false pretenses [concocted out of whole cloth] and invade it, and I sit in a swanky restaurant – bar, only to hear cheers from the patrons whilst shock and awe is televised, then and only then might I entertain the whole China ev’bal empire shtick.

    Seriously.

    • Yep, despite what trade negotiations happen from here on things will never be the same between them. The US have shown that they mean active harm to the legitimate aspirations of the Chinese state and people.

      It will take 20 years but they will buckle down ( despite any financial panics in between ) and produce a state system that with the help of the Russian Federation renders them immune to the machinations of the US evil empire. Those new state shipyards sending out blue water frigates like Liberty ships are only the start.

      • If you guys hate the west so mich why do you live in Australia? Why don’t tou move to your communist utopia?

      • WTF…

        I’m a feral capitalist Vanja, not to mention China is not a communist utopia but a capitalistic nation with an elite authoritarian political architecture. Some reasonably argue the U.S. is the same but with different social branding aka citizens united [corporatism] being the representative aspect vs citizens e.g. pot meet kettle.

      • Please define clear contra to your vacuous assertions…

        Did I say I agree with everything China does as well the U.S. or was it more nuanced.

      • Can you make a statement of effect that can be evaluated or is it just vacuous assertions day.

    • “In fact they(China) have a logistical advantage over the U.S. geographically.”
      I thought China actually had a DIS-advantage geographically because they share so many borders with many different nation states with varying interests, and in contrast, America (surrounded mostly be sea) has more of a geographic advantage. That’s what I heard or read somewhere.

      • You are precisely right. The US has ocean buffers, tame neighbours, and natural resources and fertile land in over abundance. China is enclosed by land and sea, with fractious and powerful neighbours, and has less of both resources and fertile land.

        China has more of one thing. People. That’s fine when they are working for a pittance and you (the overlord) are selling their labour dear and keeping the difference. But it’s bad when they get angry. See Chinese History 101 – every time.

      • Phew…

        America has been on Terror Alert for how long[???] and did everyone miss the Patriot Act and Homeland Security w/ increased presidential powers. Heaps of cheap labour can be found in walmart parking lots and lets not forget H1B visas. On long lines of both information and logistics is not cheap either.

  5. “In fact they have a logistical advantage over the U.S. geographically. Considering the posture of the Cheeto in belittling NATO members for not bucking up enough, considering the stop loss gurgler for other more productive social economic activity, one wonders why they are foot dragging.”

    No its called telling the NATO countries to go f#$k themselves with their BS deals. Make a fair agreement on both sides or GGF. About time someone in the US stands up to these bastards. Also great to see Trump do the same to China. ABOUT DAMN TIME….

  6. Here’s some very pertinent advise from a vlogger on the ground in China. He’s talking about scamming in China.
    https://youtu.be/5ncOyYzOP3w

    He says its “baked into the culture”, and there’s a saying along the lines: “if you can cheat, then cheat”.

    This is who we are dealing with.

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