Reuters: China says U.S. demand on its state-owned enterprises is 'invasion' on economic sovereignty
BEIJING (Reuters) - The United States has called on China to curb the development of its state-owned enterprises (SOEs), a demand that China sees as an “invasion” on its economic sovereignty, Chinese state news agency Xinhua said on Saturday.
Trade tensions between Washington and Beijing escalated sharply earlier this month after the Trump administration accused China of having “reneged” on its previous promises to make structural changes to its economic practices.
Washington later slapped additional tariffs of up to 25% on $200 billion of Chinese goods, prompting Beijing to retaliate.
As trade talks stalled, both sides have appeared to be digging in. China has denied it had walked back on its promises but reiterated it would not make concessions to “matters of principles” to defend its core interests, although no full details were given.
“At the negotiating table, the U.S. government presented a number of arrogant demands to China, including restricting the development of state-owned enterprises,” Xinhua said in a commentary.
Read more ....
Update #1: China ramps up war of rhetoric in trade standoff with US (AP)
Update #2: China state media accuses US of seeking to 'colonize global business' (The Hill)
WNU Editor: This trade war is already entrenched .... Risk of entrenched U.S. trade war with China is rising, economists say (CBS). And with China continuing to refuse to lower its trade deficit with the U.S. while maintaining restrictive trade barriers, this economic war is only going to continue. The only thing that I find perplexing about this entire story is China' willingness to gamble its annual $400 billion trade surplus with the U.S. by continuing to break promises to buy U.S. products and to lower barriers to American goods. I do not understand where they get their confidence that the status quo will return if they stand their ground, because from my perspective they will lose.
16 comments:
Well that sucks for vacay.
If Xi was going to cave he would have done it in thee last few months. He is in it for the long haul. He is in it for the long haul. He has a war chest. then there are the incalculables.
Like Venezuela and Iran.
Or the Baluchis
They talk pretty openly about how their economy is smaller than the United States while having 3-4x their population. In their mind they ARE being restrained in flexing their economic power, and to ask any less from the power-brokers who prop Xi up would probably be political suicide for him. Damned if he does, damned if he doesn't.
The strategy seems kind of dumb to me too. They benefit hugely by dealing to the entire world instead of completely lumping themselves in with the other nations on America's naughty list.
I don't think they have a large international fan club.
Maybe China should commit to buying a carrier and a dozen or so F35s. That should help the US resolve the trade deficit.
Roger, I agree. When shit hits the fan, everyone will condemn china, except germany...
This is all happening too soon for China, they still need another 10 years to be able to handle a conflict like this.
Amazing how Bob cannot think like an advertiser, an accountant, a city planner, a logistician, an engineer or even a decent politician.
It only thinks like a Leftist, with Leftist morality and Leftist wit.
Bob is entitled to his opinion here and I don't care for your insults as a way to shut people up. That needs to stop everywhere and we should all work towards allowing open opinions. So Anon 2:12, say something intelligent or go climb back under that rock you live under.
Bob tries to shut up anyone American with his nonstop anti-American diatribe.
"Maybe China should commit to buying a carrier and a dozen or so F35s. That should help the US resolve the trade deficit."
His argument is that America is a warmongering nation. It was his 1st thought, middle thought, and last thought.
Anon
You are aware that this site is called War News Updates. If you don't like my comments regarding the war like nature of the USA, a country that has not been at war for maybe two weeks since its inception, please provide your list of other countries as or more war-like.
Now you did provide a definition of "great" and that is a good start. Your next assignment is to develop a list of those characteristics that would be used to determine if any given country can be considered to be great.
"If you don't like my comments regarding the war like nature of the USA, "
All you are doing is being a loser and using the "Big Round Number Argument". You have done no analysis. You would think a bigger country like China would be involved in more wars. They have a long border. So one could plot the number of wars versus border length. Or you could look at # of wars given population size.
If you want to be real principled you should move back to Great Britain. You are living on the Land of the Neutral Tribes. The Neutral tribes tried not to get involved in any wars. They had a supply of flint and so they let it be done that if they were attacked, the strategic supplies of all the surrounding Indian nations would be at risk. So they were not attacked. It worked. Then gunpowder came along and the Peaceful Iroquois nation and beat the fuck out of them. No More Neutral Tribe. The Neutral Tribe was not interested in War, but War was interested in them.
So I think you should leave Ottawa, because that is not your land. It belonged to the Neutral Tribe.
If you actually live in Quebec, you should leave, because that belongs to the Abenaki and others.
If you are thinking about moving to Alberta or Saskatchewan that belongs to the Metis.
So pack up your bags and get a flat in London or find work in Saint Petersburg. You can be our 'Moscow Bob' or 'Commissar Hee Haw'.
You make the Big Round # arguments, so often with so little thought and no analysis like you would use in STEM, but all the analysis you could expect from a Frankfurt school alumni, that you are the poster boy for white privilege. You could not have brought value to any organization where you you worked judging from your analyses and writing in general.
I don't think you know what a variable, but with help you would be able to look up the definition and copy & paste it.
If we want to hear from you we can play a broken record.
Okay Anon, so you are unable to provide a list of even one country that is more warlike than the USA.
You might also like to vent about this, is in respect to Trump's claims about China.
China didn’t steal the US jobs. Corporate America gave them away with the approval of a President and government at a time when tens of millions of jobs were disappearing due to technological advancements, advancements in healthcare that in effect increased the population from a 3 generational economy to a 3 1/2, needing more jobs.
The governments response, spend all the money and endebt the people for generations to come on senseless an criminal wars while enriching the already wealthy.
Trump blaming China is nonsense. China is not at fault. To be sure, China is hardly an angel and indeed engages in improper trade practices. But even if China agreed to whatever bone-headed demands Trump is seeking, the problem still would not be solved.
The truth is that America cannot possibly compete against China on labor costs. The standard of living is much lower in China and thus Chinese workers are willing to accept wages far below living wages in America. So are many other countries in Asia that trade with the US.
So corporate America will continue to transfer more and more jobs to China and elsewhere. If the US government does not address this fundamental economic reality, then it will never solve the problem.
Your problem is that you either refuse to accept the truth about your country and work for change, or, that you are just to simple minded to know the truth when it hits you in the face every day.
By the way, it is the Editor that claims to be living in Quebec. I live in Canada.
Bob,
You are a mendacious POS.
We were talking about your forever talking point about the "USA being a warmongering nation" and another one of your points about the USA should being allowed to exist.
You punted an "Moved On".
Even the NYT and others say that 1/3rd of the the total trade debt was due to Chinese currency manipulation. they said this when they told Trump to stop it because that particular type of currency manipulation ended 5 or 6 years ago.
So the NYT and other sleazebags dug in their heels when it was happening, but after it happened and then that ply stopped, they use it as ammunition to reply to Trump. they admit the truth after the fact.
Lets not forget President "I cum in Interns' Mouth" Clinton who switched oversight of export control to the Commerce Department so that rocket tech could be sent to China.
You are so quick on the corporations. Funny how you leave out the Blue state/ Democrat taxation out of it. You forget that the factories moved from the northern tier to the Sunbelt to get away from ... Democrats.
Jobs always disappear in your book. New ones never open up... according to you. You learned that from the mouth of the Great Obama while sitting on his knee like a mere "tabula rasa" child. I mean damn they got rid of your job as a bank teller. You could have become a member of the Geek Squad ... and had a better job.
You should still give the deed to your domicile to a First Nations person and move to London and occupy council housing. Given you principles and morals it would be the only principled things to do unless you are a hypocrite.
Which we all know you are.
PS You forgot about China's intellectual property theft.
PS2 Since you are not a warmonger, when if ever are you going to get you Canadians back from China?
"So either provide a veifiable list of countries that are as warlike as the US or admit that you can't"
What is a "viefiable" list?
Also submit a definition of the term war.
Also get off your nasty, diseased ass and do a linear regression or two or do you want everything on silver platter.
Yeah I know when you stretch legs and make a maximum effort and protest someone like Robert Creamer provides you with pre-made signs.
You do know how to do a linear regression?
Or any type of regression?
If you can't, why are you voting for any type of policy/politician?
S'long Anidiot.
Cut and run with your tail between your legs.
Military science borrowed center of gravity from physics.
Grievance study schmucks stole the concept of intersection from mathematics. Why did they not steal or borrow the concepts of an inflection point, stable and unstable equilibrium or limit for higher math?
Answer because they never got past middle school math.
Why doesn't a scintillating intellect like yourself apply the concept of mesh size or system boundary to your study in social sciences?
Answer: Because that might be real work instead of borrowing a name like intersection from geometry and calling it intersectionality and mangling the study of human psychology beyond all recognition.
Run away. You are boring. You have no education from the trades or uni.
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