Politics
The new world broker? How China aims to counter Donald Trump
Rehearsal has been deliberate: a signal according to which the American president exercises a metaphorical flame launcher, China presents itself as the world leader responsible for establishing relations even with the nations traditionally aligned with Washington. No country should expect to suppress China on the one hand and maintain good relations with us on the other, said Wang, carefully avoiding any direct mention of the United States
While Wang was aimed at being measured earlier in the day, the Chinas Ministry of Foreign Affairs has published its strongest declaration since Trump took office: if the United States went to conflict, China responds in kind. When the United States returns to cooperation, China will do the same. If the United States wants a war, be it a tariff war, a trade war or any other type of war, we are ready to fight until the end.
Chinese concern: a clear drop in American exports
Chinas Principal Challenge to cope with an additional four years of a volatile American president who moves positions daily is his own economic difficulties. Consumer spending is decreasing, the real estate sector is in crisis and young people unemployment increases.
The 20% tariffs on Chinese products hit one of the rare brilliant economic points: exports. Wang promised an economic growth of 5% this year, but if Chinese exports to the United States fall by 2533% as expected, this objective will be difficult to achieve.
Over the past two years, China has achieved its objective of 5% thanks to strong exports, generating a record surplus of 1 Billion of dollars. If prices prevail, China will have to stimulate domestic consumption. Beijing has introduced recovery measures, including commercial programs for household appliances, cars, phones and electronics, as well as the issue of 1.3 Billion from Yuans (179 billion dollars) in special bonds to finance these initiatives.
In a rare decision, Beijing has also increased its budget deficit from 3% to 4% of the highest GDP in decade, reflecting urgency to stimulate growth. The government plans to create more than 12 million urban jobs, caps urban unemployment 5.5% in 2025 and increase support for high -tech industries, real estate stabilization and care programs for the elderly. China also announced a 7.2% increase in its defense budget.
Chinas Ace: Elon Musk
The tariff war is not a unilateral invoice which has a significant lever effect thanks to reprisal rates. Earlier this month, Beijing imposed prices of 15% targeted on the main American industries where China is the largest market, including corn, wheat, soy, poultry, pork and beef.
The reaction of the Wall streets at Trumps prices and its erratic policy changes have fueled Chinese hope that the trade war will not last long. Meanwhile, Beijing capitalizes on the retirement of the Americas of world leadership in fields such as health care and climate change.
Trumps Speech has sent the message that the United States only care about its own interests and will ruthlessly pursue it, without taking into account international standards, Wang said. Trump withdrew from the Paris climate agreement and the World Health Organization, clearly indicating that the United States no longer supports the values and the world order it has defended since the Second World War. On the other hand, China is ready to work with the international community to meet shared challenges such as climate change.
If China felt under pressure, it could restrict Teslas operations a decision that would have a direct impact on Trump, which recently presented a automotive dealer for American manufacturing on the lawn of the White House, signaling its intended interest in protecting Tesla.
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Sources 2/ https://www.ynetnews.com/business/article/ry00haayhjl The mention sources can contact us to remove/changing this article |
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