Saturday, November 19, 2016

China Warns President-Elect Trump To Not Renounce Free Trade Deals

Republican U.S. president-elect Donald Trump speaks at his election night rally in Manhattan, New York, U.S., November 9, 2016. REUTERS/Carlo Allegri

Reuters: China state media warn Trump against renouncing free trade deals

SHANGHAI (Reuters) - Chinese state media warned U.S. President-elect Donald Trump on Saturday against flip-flopping on trade deals in Asia, as Asia-Pacific leaders gathered for a summit amid fears that growing protectionism will stunt global economic growth.

During the raucous election campaign, Trump fuelled concerns among many of the United States' trading partners by pledging to renegotiate trade accords such as the North American Free Trade Agreement (NAFTA) and impose tariffs on imports from countries such as China.

"Turning his trade-bashing campaign talks into actual policies could bash any hope that the Asia-Pacific will finally have its much-wanted free trade deal," said a commentary in the official Xinhua news agency on Saturday.

"Worse, it could drag his country and the wider world into deeper economic distress," added the agency, which is a barometer of government thinking.

Read more ....

WNU Editor: This is rich. China's economy is one of the most protected and tightly regulated economies in the world when it comes to exporting products to China .... and doubly so to joint ventures within the country itself. And they are now lecturing (and threatening) the incoming Trump administration that they cannot do the same thing. Both countries are heavily dependent on each other .... but if this is China's opening position .... it is not going to end well for everyone.

2 comments:

TWN said...

This should be interesting, to see what happens, China is in a bit of a pickle with out the US markets, but so is Canada and just about everyone else. The unwinding of Globalism is going to be very messy.

Matthew Dupuis said...

Messy indeed...