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“China would have superseded us in two years as an economic power.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!”
WM Wong Actually it was a gang of 8, but nevertheless it was a GANG.
That was only during the 100 plus year of humiliation under divide and rule by a gang of 9 nations.
That was only during the 100 plus year of humiliation under divide and rule by a gang of 9 nations.
So is this goldman from Judea for pumping this delusional shit out!
So is this goldman from Judea for pumping this delusional shit out!
Trump is an idiot if he thinks China will give up its 2025 programme. China will be independent on high tech, and first of all independent from the US.
Trump is an idiot if he thinks China will give up its 2025 programme. China will be independent on high tech, and first of all independent from the US.
Well losing the house of representatives or even the spectre of more democrat dominated committees does have an effect of moderating oneself to be more circumspect. I am hoping the CCP has also taken on board lessons learned dealing with the US and the world in general.
Well losing the house of representatives or even the spectre of more democrat dominated committees does have an effect of moderating oneself to be more circumspect. I am hoping the CCP has also taken on board lessons learned dealing with the US and the world in general.
John…….leave the details of handling this to Iran. They are onto it like you wouldn’t believe. Not too long to go now……the end of Zionism is upon us.
John…….leave the details of handling this to Iran. They are onto it like you wouldn’t believe. Not too long to go now……the end of Zionism is upon us.
Michael…… Let Iran deal with these Zionists….. They know exactly how to!…..just have a little more patience. Iran will cut out this cancerous tumour soon. Don’t have long to go!
Michael…… Let Iran deal with these Zionists….. They know exactly how to!…..just have a little more patience. Iran will cut out this cancerous tumour soon. Don’t have long to go!
Ken Nguyen Do not insult the CCP comrade, mins 3 social credit points for you.
Ken Nguyen Do not insult the CCP comrade, mins 3 social credit points for you.
Chinese got what they want for 3500yrs, like Nanking, civil war and stravation ?
Chinese got what they want for 3500yrs, like Nanking, civil war and stravation ?
If Trump can say the mideterm elections is a midterm success I guess he can call victory over China and make all sorts of claims
If Trump can say the mideterm elections is a midterm success I guess he can call victory over China and make all sorts of claims
This criminal idiot David P. Goldman is a well known fake news writer.The Chinese government never made a statement that they had agree to give up their 2025 plans in any way.As such the article by the criminal fake new writer was only a delusional wish on the side of the US to stop China from marching ahead.