But no mention of
intellectual property theft. See below:
CHINA OFFERS TRUMP A TRADE DEAL THAT WILL ELIMINATE
THE TRADE DEFICIT BY 2024, By Steven Ahle, 1/19/19.
Once again President Trump is making the
Democrats and their pet economists look like fools. They have been accusing him
of wrecking the economy in his trade war with China.
But it now appears that the president
has won the standoff. China is offering a package of increased purchases from
the United States that would greatly benefit farmers and quite possibly Boeing.
The deal will include doing away with
all tariffs on both sides and China agreeing to increase buying products from
the United States. They say the deficit will be reduced to zero by 2024.
Liberal economists will come up with a
dozen reasons why it’s a bad deal, but none of which can be verified until
after Trump’s second term.
From Bloomberg: China has offered
to go on a six-year buying spree to ramp up imports from the U.S., in a move
that would reconfigure the relationship between the world’s two largest
economies, according to officials familiar with the negotiations.
By increasing goods imports from the U.S. by a combined value of more
than $1 trillion over that period, China would seek to reduce its trade surplus
— which last year stood at $323 billion — to zero by 2024, one of the people
said. The officials asked not to be named as the discussions aren’t public.
The offer, made during talks in Beijing earlier this month, was met with
skepticism by U.S. negotiators who nonetheless asked the Chinese to do even
better, demanding that the imbalance be cleared in the next two years, the
people said. Economists who’ve studied the trade relationship argue it would be
hard to eliminate the gap, which they say is sustained in large part by U.S.
demand for Chinese products.
U.S. stocks extended gains and the dollar rose following the news. The S&P 500 Index rallied, climbing 1.3 percent by 1:27 p.m. and
heading for its fourth weekly advance, while the dollar traded at session
highs.
Comments
None of this would
have happened except for Trump’s Tariffs on Chinese Imports. The problem is
that global corporations have unbolted from their nationalities and home
countries. The problem with that is that all economies are national and based
on home country laws. Without competition there is no incentive for companies
to do the right things. Without countries who compete with each other there is
little use for government and less use in defending it.
Norb Leahy, Dunwoody
GA Tea Party Leader
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