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  1. #1
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    Beware Chinese Lemmings!

    ...the Chinese government uses patriotism to remind filthy foreigners of who's boss...

    Beware the Wrath of the Chinese Consumer

    Or risk a chorus of complaints from boycott-battered U.S. companies.

    By David Fickling (Bloomberg)
    July 6, 2018, 2:04 PM GMT+7





    Remember what happened to South Korea? Photographer: Nikada/Getty ImagesThere’s a dog that hasn’t barked in the current round of trade tensions between the U.S. and China: Despite the first direct tariffs coming into force Friday, the Chinese consumer has been on her best behavior.

    That’s somewhat unusual if you consider Beijing’s most recent diplomatic spats with its trading partners.

    When relations with South Korea deteriorated last year over Seoul’s decision to deploy a missile shield, Chinese civil society went straight for the jugular.

    Yang Bingyang, a former model who's known online as Ayawawa, encouraged her 2.7 million Weibo followers to boycott Korean products. “Every penny we spend is a vote on our future world!” the state-owned Global Times quoted her as saying. Hyundai Motor Co.’s market share in China was cut almost in half within a month. Lotte Shopping Co.'s local sales tumbled 84 percent from the March to June quarters of 2017 after local authorities shut stores alleging fire safety violations, and the chain is now pulling out of China altogether.


    Shame If Something Happened to It

    Revenue from Lotte Shopping's Chinese stores fell off a cliff after local authorities ordered them closed in the wake of a missile-defence dispute

    It was a similar story in 2012, during one of the periodic flare-ups over islands in the East China Sea claimed by both Japan and China. Nationalist crowds ransacked a Toyota Motor Corp. dealership and
    set a Panasonic Corp. factory ablaze.
    To date, there’s been little sign of that sort of thing in this dispute. Despite claims of reduced buying of U.S. soybeans and disruptive import checks on fruit and pork in recent months, the dreaded non-tariff barriers have been confined to regulatory measures, rather than consumer boycotts.
    That’s particularly surprising given consumer goods could be Washington’s Achilles’ heel.

    China in December overtook the U.S. as the world’s biggest retail market. It’s the largest market by volume for General Motors Co. and the second biggest for Starbucks Corp., which expects sales in the country to overtake those from North America within a decade. Apple Inc. has some $45 billion of revenue there, while Las Vegas Sands Corp. and Wynn Resorts Ltd. would collapse without the dollars flowing from their Macau casinos.


    How to account for the relative silence? One explanation is that we’re simply too early in this dispute for the big guns to be brought out.
    The expected tit-for-tat response to the $34 billion of U.S. tariffs Friday is an indication China’s government is still happy with the conventional trade weapons in its armory, and wary of reaching for anything more powerful.
    There might be more to it, though. China has been careful to pose as the good guy in this fight. The spectacle of Beijing unleashing nationalist boycotts on Procter & Gamble Co., Coca-Cola Co. and Apple would make that facade harder to maintain, and give ammunition to the U.S. argument that China’s economy is ultimately a tool of the Party.

    The top eight U.S. consumer businesses that declared China revenue last year posted $79 billion of sales there alone

    The lack of consumer boycotts is “a bit unusual, but consistent with the Chinese rhetoric that China would be a defender of the global trading order,” Victor Shih, an associate professor and expert on China at the University of California, San Diego, said. “The reality is that the status quo allows China to protect many of its industries, so China wants to maintain the status quo.”
    Don’t count on that forbearance continuing if tensions escalate. In all, Chinese subsidiaries of U.S. companies had about $223 billion in revenue in 2015, according to Deutsche Bank AG. Reduce those sales by just 20 percent — a rather modest target, given what consumer boycotts did to Korean firms last year — and you’ve already done $45 billion in damage, more than equivalent to the 10 percent tariff the U.S. is threatening to levy on a further $400 billion of imports if Beijing doesn’t back down.

    That’s reason enough for Washington to reduce the temperature of this fight before a chorus of complaints from boycott-battered U.S. companies force it to do so. The Chinese people — reading from a script, to be sure — haven’t spoken yet. Smile at them, pay them, pass them, but
    do not quite forget.

    Majestically enthroned amid the vulgar herd

  2. #2
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    Quote Originally Posted by tomcat View Post
    One explanation is that we’re simply too early in this dispute for the big guns to be brought out

    this.

    The tariffs just started yesterday. The more things drag on the more Beijing will turn up the heat.

    Not really seeing any winners from this...lose/lose all around

  3. #3
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    I'll wager my house on Trump not factoring into his tariff war how powerful the Chinese consumer could be in hurting US business interests there.
    Ironically, he'd admire Xi all the more for having non-questioning masses at his beck and call to buy or not to buy what they're told.
    Quote Originally Posted by tomcat View Post
    The top eight U.S. consumer businesses that declared China revenue last year posted $79 billion of sales there alone
    That's just the top 8. It will sting back in the US if the consumers get riled.

  4. #4
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    Boycotts might not be necessary, increased price for US goods will opens up markets for domestic products. Local Starbucks competitors will get a boost, same as the others.

  5. #5
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    Yes, but then there's the South Korea Effect. Ransacking US company outlets and offices would have a more immediate effect.

  6. #6
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    US businesses rushed overseas in search of cheaper labour and and larger quarterly earnings at the expense of the US workers/economy. US consumers also like lemmings flocked to Wallmart et al and bought heaps of cheap Chinese tack.
    Result? US gave all their consumer money to China. Any imbalance is the fault of the US businesses and consumers. It is not China's fault?
    Same goes for European cars and...
    That and not everyone in the US can have a 5 bedroom house and three cars...
    Better to think inside the pub, than outside the box?
    I apologize if any offence was caused. unless it was intended.
    You people, you think I know feck nothing; I tell you: I know feck all
    Those who cannot change their mind, cannot change anything.

  7. #7
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    Quote Originally Posted by VocalNeal View Post
    is the fault of the US businesses and consumers.
    Indeed, but we want to find fault with Trump in particular.

  8. #8
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    Quote Originally Posted by Maanaam View Post
    but we want to find fault with Trump in particular.
    ...not much of a challenge...

  9. #9
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    No, not for you or me, but when trying to find fault that even a redneck trumpanzee could see, it is a challenge.

  10. #10
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    ...I'm not interested in the opinions of the lowest common denominator...the beer, kill and fuck crowd have no idea what tariffs are, let alone their possible consequences...

  11. #11
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    Quote Originally Posted by Maanaam View Post
    the South Korea Effect. Ransacking US company outlets and offices would have a more immediate effect.
    It's China...so they would need to do it peacefully without destruction to property or as an organized group.

  12. #12
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    ^From the OP
    Quote Originally Posted by tomcat View Post
    Nationalist crowds ransacked a Toyota Motor Corp. dealership and set a Panasonic Corp. factory ablaze.

  13. #13
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    ...nationalist (and "spontaneous") Chinese crowds also broke down the gates to the Japanese embassy, prowled the grounds, broke a few windows and, at the sound of a mysterious whistle, returned to the streets...

  14. #14
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    The problem with the "People Power" solution is that Uncle Xi cannot be blamed personally. As we know western MSM can only focus on one person. Similarly to suggest goldilocks can win at anything is hilarious. Large numbers of recent and past people, teams and actions have caused this growing problem. Some have plans and achieve them, others who react pitifully, are deemed to be saviours of the known universe by flocks and flocks of lost lambs.

    Meanwhile the BRI gets longer and wider everyday.
    A tray full of GOLD is not worth a moment in time.

  15. #15
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    Quote Originally Posted by OhOh View Post
    Uncle Xi cannot be blamed personally.
    Oh really? The personality cult he's built is not his fault? The way he manouvered to get lifetime dictatorship of China is not his fault?

    This from something I just read;
    Young woman goes missing after filming herself splashing ink on poster of Xi Jinping ? Shanghaiist

  16. #16
    In hyperbolic overdrive
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    No doubt she is holding up the latest peoples tower block. Along with 200 tons of foundation concrete.

  17. #17
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    Quote Originally Posted by Maanaam View Post
    Young woman goes missing after filming herself splashing ink on poster of Xi Jinping ? Shanghaiist
    No contact/About the site available just a message:

    "Contact


    This page will be updated soon."



    Who is the new owner, since April 2018?

    See info on :

    https://www.easycounter.com/report/shanghaiist.com


    It seems most traffic is from ameristan, UK and Australia.

    Dodgy site to say the least.

  18. #18
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    Quote Originally Posted by OhOh View Post
    The personality cult he's built is not his fault? The way he manouvered to get lifetime dictatorship of China is not his fault?
    What has this got to do with the OP, "Beware the Wrath of the Chinese Consumer"?

    A politician wants to be known by his constituency? Is that a Chinese trait, or a general worldwide desire?

    A "dictatorship"? Try examining how a person reaches the giddy heights of a countries control pyramid in most countries? Try researching what Uncle Xi has been awarded and what restrictions are in place that he is required to obey.

  19. #19
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    Quote Originally Posted by OhOh View Post
    What has this got to do with the OP
    Only as much as it was replying to your comment that Xi is not to be blamed for rabble ransacking buildings.
    Keep up.

  20. #20
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    I suspect the multi million loss in sales has more to do with any revision of attitude than Chinese citizens taking out a shop or two.

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    Quote Originally Posted by Maanaam View Post
    ^From the OP

    That was more about border dispute with Japan.Still alot of animosity with Japan that's been escalated in recent years. Also been some pretty bad protests over conditions at Foxconn. They're the exception though. Protesting anything foreign in the ROK is pretty much just another day.

    Can't see the Chinese ransacking Starbucks over high tariffs.

  22. #22
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    Quote Originally Posted by uncle junior View Post
    Can't see the Chinese ransacking Starbucks over high tariffs.
    The Chinese are opening their own coffee shops and competing the quiet way, with their new excess income.

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