China backtracked on nearly all aspects of U.S. trade deal

[patero]

"Give and Take" or "My way or Highway", the attitude decides outcome. The author of "Art of Deal" doesn't seem to understand how to make a deal.

By the way, a deal is not a done deal, until it gets signed. IDK why Trump got pissed, and how many times has this POTUS backtracked from Sighed deals??

Trump isn't really who is driving this, he's just the person with executive authority to execute the order. Those who are driving the negotiations know how to prompt Trump into action.

 

[Dungeness]

Trump isn't really who is driving this, he's just the person with executive authority to execute the order. Those who are driving the negotiations know how to prompt Trump into action.

You think this POTUS is just a figurehead in this trade war with China? Some people don't want a deal, and I think China is prepared for that.

 

[Globenim]

Did our U.S. propaganda spamer only read the headline again and assumed China was caving in to U.S. demands or is this just salvaging of the news for a little Hindu divide and conquer?

 

[maximuswarrior]

Well done China. Get the rednecks.

As far as I am concerned, China, Pakistan, Iran and Russia need to join hands in a certain place and do the necessary.

 

[patero]

There seems to be a number of posters here (from one side of the dispute) who can't grasp the reality of what is happening. Pinning this all on one man, dismissing that one man as this or that, 'it's face saving tactics', 'they don't know what to do', filtered interpretations of likely outcomes: it's all getting rather tedious.

The trade war between the two most powerful nations today has been decades in the making. It has an historical inevitability about it. How it plays out is uncertain, but it is not going to end anytime soon. It could develop into something worse than a trade war, lets hope it doesn't.

Well done China. Get the rednecks.

As far as I am concerned, China, Pakistan, Iran and Russia need to join hands in a certain place and do the necessary.

Umm, aren't you living in a 'redneck' country (Netherlands)? Odd thing to do if that's true, you don't seem to like them very much.

 

[艹艹艹]

They have said since last year that China has caved in to the US

 

[qwerrty]

you can tell that trump is desperate for the deal with china. lol

 

[Sineva]

Uhh, let me take a guess, hit China with the new tariffs in two days time? I'm not sure if he could have made his intentions any clearer.

And the chinese will undoubtedly retaliate in kind.So not exactly what you`d call a winning strategy is it?,what makes it even more ironic is that this is the guy who "co-wrote"[yeah sure] a book called "The art of the deal"[lol!].

We Chinese has learned this from from American, they backtracked Iran nuclear accord signed or ABM treaty why Chinese can't.

Quite right!,if its okay for the west to be a lying hypocritical bunch of sh!tbags,then its okay for china to act that way too.
Sauce for the goose...and all that crap.

 

[武成王]

China is just buying time, they are looking to see off Trump.

Not really. Whether or not Trump charges Whitehouse does not change the trend that US and China fight a new cold war, a different one from Soviet vs US, it's not out of expectation.

 

[TaiShang]

US regime shows desperation.

The regime that has even backtracked from "signed' deals are shrieking about backtracking from a deal that is under negotiations and no documents have been signed yet.

Weirdos.

@Dungeness

 

[Dungeness]

US regime shows desperation.

The regime that has even backtracked from "signed' deals are shrieking about backtracking from a deal that is under negotiations and no documents have been signed yet.

Weirdos.

@Dungeness

The significant signal is that China is not afraid of "no deal" and is ready to depart from its Mr. Nice Guy's "win-win" mentality, and willing to play hardball.

Trump has been running this country like a mafia syndicate, and the sheer force maybe the only language a mafia boss can understand and respect.

 

[TaiShang]

The significant signal is that China is not afraid of "no deal" and is ready to depart from its Mr. Nice Guy's "win-win" mentality, and willing to play hardball.

Trump has been running this country like a mafia syndicate, and the sheer force maybe the only language a mafia boss can understand and respect.

Indeed, it seems while the US mafia regime was mired in internal fights and political vengeance, China was laying the ground for a long-winded struggle against the regime.

It is great that US share in China's exports is now slightly over 10%. Amazing drop from 20+%.

The US seems to have shot itself in the foot.

***

China's export diversification efforts pay off

By Chu Daye Source:Global Times Published: 2019/5/8

Despite flat Jan-April shipments, analysts maintain optimism

Stacks of containers to be shipped abroad seen at the Lianyungang port in East China's Jiangsu Province on Wednesday. Photo: IC

China reported flat exports in the first four months of the year amid slowing growth in world trade and rising trade tensions, but exporters' diversification efforts also began to pay off, Chinese analysts said on Wednesday.

For the first four months, overall trade was down 1.1 percent to $1.4 trillion, but that was an improvement from the first quarter, when overall trade contracted 1.5 percent. Trade increased 16.5 percent year-on-year in the first four months in 2018.

In April, the nation's exports denominated in US dollar terms shifted into reverse from strong growth recorded in March. China's exports fell 2.7 percent year-on-year to $193.49 billion, much lower than expected, figures from the General Administration of Customs(GAC) showed on Wednesday.

In the first four months, exports was flat at 0.2 percent

The change signaled rising uncertainties in world trade amid an ongoing dispute between the US and China, experts said.

Niu Li, director of the State Information Center's Macroeconomic Research Office, told the Global Times on Wednesday that the weak performance during the first four months reflected a general cooling in the global economy coupled with the negative effects of the trade conflict with the US.

Rising trade tensions and increased economic uncertainty are exerting strong headwinds on world trade, and that process is set to continue in 2020 after trade grew more slowly than expected in 2018.

In a report in April, WTO economists forecast global merchandise trade volume growth to fall to 2.6 percent in 2019 from 3.0 percent in 2018.

"The flat growth in exports so far will make some analysts' projections of annual growth of 5 percent a challenging task to achieve" for China, Niu said.

Besides, trade between the US and China dropped significantly in the first four months as the Trump administration's reckless tariff war dragged on.

China-US trade now accounts for 11.5 percent of China's gross foreign trade, down from 20 percent in 2017, which was before the tit-for-tat trade tussle broke out last year.

If Trump makes good on his latest blatant threat that he is to raise tariffs on $200 billion of Chinese imports from 10 percent to 25 percent on Friday, bilateral trade is poised to tumble further, Chinese experts said, inflicting deeper wounds on the two economies and inflicting collateral damage on others.

New markets

However, experts said growing trade with the EU, members of the Association of Southeast Asian Nations (ASEAN), Japan and markets involved in the Belt and Road Initiative (BRI) could offset the side effects of the trade conflict with the US.

China's broad effort to lower import duties on a wide range of goods will also unleash more buying power in the domestic market, they added.

China's trade with countries and regions along the BRI grew at two times the rate of overall trade during the January-April period.

Zhao Ping, director of the international trade department at the China Council for the Promotion of International Trade, said the US' importance as a trade partner has steadily declined since it began to wage a trade war against China in 2018.

"Chinese exporters have started to diversify their markets and that strategy has worked well with the impetus brought by the BRI," Zhao said, noting that the connectivity project aimed at facilitating trade among Asia, Europe, Africa and beyond has provided strong momentum to China's exports.

But external uncertainty is uncontrollable and China has used a package of policies to relieve the downward pressure, experts said.

In yuan terms, trade with the EU, China's largest trading partner, grew by 11.8 percent during the January-April period, while trade with members of the ASEAN bloc grew by 9 percent, GAC data showed.

Trade with BRI-related markets grew by 9.1 percent year-on-year, 4.8 percentage points higher than the overall trade growth in the period.

The internal trade value of the BRI markets has increased significantly, and surpassed the North American Free Trade Area to become the world's second-largest trading bloc after the EU as its trading momentum keeps rising, a report by four institutions including the China Center for International Economic Exchanges showed on Tuesday.

"The BRI market, with its vast number of emerging countries, is effectively rebalancing the landscape of global trade," Bai Ming, deputy director of the Ministry of Commerce's International Market Research Institute, told the Global Times on Wednesday.

***

 

[Imran Khan]

USA is no more sole super power .

 

[qwerrty]

China-US trade now accounts for 11.5 percent of China's gross foreign trade, down from 20 percent in 2017, which was before the tit-for-tat trade tussle broke out last year.

only 11.5% and will be lesser in the future and people think we'll be doomed without amelikan market..... hahah lolzzzz

 

[Zsari]

China is just buying time, they are looking to see off Trump.

China-US trade now accounts for 11.5 percent of China's gross foreign trade, down from 20 percent in 2017.
China's trade with countries and regions along the BRI grew at two times the rate of overall trade during the January-April period.

That's what China is biding time for, not whether Trump remain in the office or not as that is irrelevant. Let Trump turn up the tariff more and more, as China wane itself away from US trade.