U.S. President Donald Trump takes part in a welcoming ceremony with China's President Xi Jinping at the Great Hall of the People in Beijing, China, November 9, 2017. REUTERS/Damir Sagolj
Alex Lockie, Business Insider: China's Xi takes humiliating loss to US on trade and Huawei — but Trump could be getting played
: President Donald Trump scored an outright victory in his ongoing trade spat when Chinese President Xi Jinping backed off his "Made in China 2025" push.
* Made in China 2025, the plan to make Xi's China a tech and manufacturing superpower, bore Xi's name, making it a humiliating defeat for him to revisit it.
* China has also slowly started to cave in on the tariff war as the US addresses other irritants in the US-China relationship, mainly with the Chinese tech company Huawei.
* The US has sounded alarm bells about Huawei as a security risk and asked Canada to extradite the company's CFO.
* China responded in anger but continued to appease Trump on trade, andXi may be playing the long game and throwing Trump some positive headlines while nothing changes on the ground.
President Donald Trump scored an outright victory in his ongoing trade spat with Chinese President Xi Jinping as the strongest leader in Beijing since Chairman Mao had to back off a key policy push.
But Xi may have lost the battle to win a larger war.
Xi's "Made in China 2025" economic strategy unraveled this week as The Wall Street Journal and Bloomberg reported that top Chinese officials planned to change course.
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WNU Editor: I do not see China backing down in its trade war against the U.S., nor seriously altering their "Made In China Push 2025" push. I actually seeing them doubling down on protecting the interests of Huawei by arresting and imprisoning two innocent Canadians (and thereby sending a message to everyone else), and on tariffs, making cosmetic changes (such as on U.S. cars) that will not alter nor change the trade imbalance. My impression right now on what the Chinese will do is that they are going to wait out President Trump, and hope that his Democrat challenger in 2020 will win the Presidency and bring back the status quo.
2 comments:
@WNU.. maybe.. but my feeling is it depends much on Europe. Either Europe - as it looks now, remember Junkers went to Trump early to "agree" on a joint venture and trade plan - sides with US, then China's hands are tied, or Europe sides with China, in a historic mistake, and we will see Chinese influence our ways of lives far beyond what you can imagine in 50 years. I truly hope Trump - love him or hate him, on this issue he is 1,000% correct - will be re-elected.
$1 Billion a Month: The Cost of Trump's Tariffs on Technology...Bloomberg
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