In a press conference at the White House Wednesday afternoon, following better-than-expected results for his party in midterm elections, President Trump all but declared that he had concluded a trade deal with China.
“They got rid of ‘China 25,’” the president said in response to a reporter’s question, in an apparent reference to China’s Made in China 2025 program to eliminate dependence on imports in several key high-tech industries by the year 2025.
“China would have superseded us in two years as an economic power. Now they’re not even close. China got rid of their ‘China 25’ because I found it very insulting. I told that to them. That means in 2025 they’re going to take over – economically – the world,” Trump told reporters.
Significantly, Trump used the past tense, as if referring to a deal that was already well on its way to completion.
He went on to tout progress that he has made in pressuring Beijing, adding: “we’re going to try to make a deal with China because I want to have a great relationship with President Xi – as I do – and also with China.”
I reported from Beijing last month that China was willing to back away from the “Made in China 2025” program in the context of a trade deal with the United States:
By backing off from the 2025 target, Chinese officials believe, Beijing can placate the US Administration, and give President Trump a coup in public relations while keeping its own industrial program intact. The government is exploring a number of ways to present such a deal.
Last week, a new government draft entitled “Made in China 2030” was released for discussion at government think tanks. Some government advisers mention the year 2035 rather than 2025 as a goal for achieving China’s high tech ambitions. The differences are largely verbal and have little bearing on actual policies.
Judging from the president’s remarks on Wednesday, China’s flexibility in branding its high-tech investment program helped placate the US Administration.
The S&P 500 on Wednesday closely tracked the large-cap China H-shares ETF, ticker FXI:
Analysis of 1-minute-interval trading data shows that gains in FXI preceded moves in the broad US index by two to three minutes.
This follows a pattern set at the beginning of November when US markets recovered after President Trump indicated that prospects were good for resolving the trade dispute with China.
Trump tweeted on November 1: “Just had a long and very good conversation with President Xi Jinping of China. We talked about many subjects, with a heavy emphasis on Trade. Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina. Also had good discussion on North Korea!”
But the Americans have bigger weapons.
But the Americans have bigger weapons.
Winston Medved Irrelevant comment, are you stuck in the 1950’s? If MAD can be assured, then weapons are useless as both sides will annihilate themselves. That’s why Trumps war with China is ECONOMIC.
However, I’ll bite. China has over 3000 acres of islands built in the SCS, and has cruise missiles that can reach Guam from the mainland. Each of those islands can host DF-21 ship killer missiles. China’s offensive capabilities are decades behind the US, but defensively, between the S-400’s and carrier-killer missiles, I wouldn’t be too confident if I were the US.
Additionally, and I’ll pose 1 last question. Trump wants to "MAGA" and make "America First" – how much American blood is he willing to shed for Taiwan – CHINESE people.
The CCP and the PLA is willing to sacrifice tens of thousands of lives if necessary, is Trump?
Winston Medved Irrelevant comment, are you stuck in the 1950’s? If MAD can be assured, then weapons are useless as both sides will annihilate themselves. That’s why Trumps war with China is ECONOMIC.
However, I’ll bite. China has over 3000 acres of islands built in the SCS, and has cruise missiles that can reach Guam from the mainland. Each of those islands can host DF-21 ship killer missiles. China’s offensive capabilities are decades behind the US, but defensively, between the S-400’s and carrier-killer missiles, I wouldn’t be too confident if I were the US.
Additionally, and I’ll pose 1 last question. Trump wants to "MAGA" and make "America First" – how much American blood is he willing to shed for Taiwan – CHINESE people.
The CCP and the PLA is willing to sacrifice tens of thousands of lives if necessary, is Trump?
Ahson Aftab China will help pakistain, iran will deal with israel and mo the pedo flew to heaven on a winged camel !
Ahson Aftab China will help pakistain, iran will deal with israel and mo the pedo flew to heaven on a winged camel !
Ahson Aftab delusional is thinking china will help pakistain, iran will deal with israel and mo flew to heaven on a winged goat.
Ahson Aftab delusional is thinking china will help pakistain, iran will deal with israel and mo flew to heaven on a winged goat.
And you swallow the lies of the CCP
And you swallow the lies of the CCP
5k years and they still have no freedoms or liberty
5k years and they still have no freedoms or liberty
Innovation ? China has always stolen ideas from Budha (Confuscius !) to tady.
Thats why the CCP like ‘Confusion’ so much ‘dont be different, fit in’.
I suppose they just dont like different (ie larger !) people
Innovation ? China has always stolen ideas from Budha (Confuscius !) to tady.
Thats why the CCP like ‘Confusion’ so much ‘dont be different, fit in’.
I suppose they just dont like different (ie larger !) people
Michael Zhao Your offensive and defensive (small) weapons are a long way from the US mainland. The US has no foes close by.
Compare that to China, surrounded by nations with 100’s of years of hating China and Chinese.
The CCP and the Puny Liberation Army/Navy might be willing to sacrifice men in human waves, but are their parents ? 1 Child policy means mr wing and mrs wang dont want to lose lose their son for anyone.
Michael Zhao Your offensive and defensive (small) weapons are a long way from the US mainland. The US has no foes close by.
Compare that to China, surrounded by nations with 100’s of years of hating China and Chinese.
The CCP and the Puny Liberation Army/Navy might be willing to sacrifice men in human waves, but are their parents ? 1 Child policy means mr wing and mrs wang dont want to lose lose their son for anyone.
While Pakistain still produces winged ponys and pedo prophets !
While Pakistain still produces winged ponys and pedo prophets !
Agreed, but the CCP are on the nose.
Agreed, but the CCP are on the nose.
And just like that, Goldman gives up any pretense at being a thinker and analyst. Just another cheerleader admiring the emperor’s new clothes.
And just like that, Goldman gives up any pretense at being a thinker and analyst. Just another cheerleader admiring the emperor’s new clothes.
Indeed. However, don’t be deluded into thinking all Americans have turned off their brains. Slightly more than half of us cannot wait for this orange cretin to return to obscurity.
Indeed. However, don’t be deluded into thinking all Americans have turned off their brains. Slightly more than half of us cannot wait for this orange cretin to return to obscurity.