Thread: Trade war escalation could smash global economy and equities: UBS

Originally Posted by OhOh

U.S. Senate Quietly Votes to Cut Tariffs on Hundreds of Chinese Goods

By Reuters
July 27, 2018
WASHINGTON — As trade tensions escalate between Washington and Beijing, the U.S. Senate quietly passed legislation on Thursday that would lower trade barriers on hundreds of items made in China.

With no debate, the Senate unanimously passed a bill that would cut or eliminate tariffs on toasters, chemicals and roughly 1,660 other items made outside the United States.

Nearly half of those items are produced in China, according to a Reuters analysis of government records.

The United States and China, the world's two largest economies, are increasingly at loggerheads over trade.

U.S. President Donald Trump has announced a series of punitive tariffs on Chinese imports in a bid to halt a Chinese surge in high-technology industries that threatens to displace U.S. dominance. China has retaliated with its own duties on imports from the United States.

The White House has not publicly taken a position on the so-called miscellaneous tariff bill, which has now passed both the Senate and the House of Representatives unanimously. The two chambers need to resolve minor differences before they can send the legislation to Trump to sign into law.

Supporters of the bill have said it would boost the economy by getting rid of tariffs set up to protect industries that no longer exist in the United States. The National Association of Manufacturers has said U.S. businesses pay $1 million a day on such import duties.

"It makes no sense because it is a direct and punishing tax on making things in America and for creating jobs in America," the trade group's president, Jay Timmons, said in a prepared statement celebrating the bill's passage.
Among the beneficiaries are companies that have moved production offshore.
Hamilton Beach Brands Holding Co, for example, would pay reduced tariffs on Chinese-made toaster ovens, steam irons and other household appliances it used to make domestically.

Some domestic manufacturers have complained the bill would undercut their business by making it easier for rivals to bring in cheap foreign goods. They said the bill punished smaller firms that lack the ability to defend their interests in Washington.
The version of the bill that passed the House in January included 145 items that are made domestically, according to a Reuters analysis. [L2N1QN00P]
"There's no reason to block opportunity U.S. manufacturers might have for rebuilding our manufacturing base," Michael Korchmar, the head of a family-owned travel goods company in Florida, said in a phone interview earlier this month.

Korchmar earlier this year planned to hire up to 30 workers in his Naples, Florida, factory, but he put those plans on hold after being told by Reuters that the bill would lower tariffs on an insulated food bag that he planned to produce.
Korchmar said he may yet decide to expand production, because Democratic Senator Bill Nelson removed that item from the bill after Reuters wrote about it in March.

"We've got a good shot - we've lost a good bit of time and we have to re-evaluate the market," Korchmar said.

(Reporting by Andy Sullivan; Editing by Peter Cooney)"

https://www.nytimes.com/reuters/2018/07/27/business/27reuters-usa-congress-trade.html?rref=collection%2Fsectioncollection%2Fr euters-business


https://www.govtrack.us/congress/bills/115/hr4318

Well.....this is an interesting tidbit.

America doesn't stand a chance -

Should the headline not read. The US MAY POTENTIALY cut tariffs on hundreds of goods, a minority of which are made in China, providing the President agrees .
Once again You have overcooked a headline which, unfortunately detracts from what little reputation of being unbiased that you have left. In your haste to give an alternative view from what you percieve (and in many cases are correct) as western media bias you have become guilty of the same thing. If you wish your alternative news to be at all respected as independent and unbiased you need to first be so yourself.

Originally Posted by Hugh Cow

Should the headline not read. The US MAY POTENTIALY cut tariffs on hundreds of goods, a minority of which are made in China, providing the President agrees .

The headline states

Originally Posted by OhOh

U.S. Senate Quietly Votes to Cut Tariffs on Hundreds of Chinese Goods

Are you suggesting it is fake news?

Are you suggesting that goldilocks will ignore the will of the elected peoples representatives? Possibly the politicians vote to influence the ameristani stock exchanges, pocket a few Yuan, reverse the news tomorrow and repeat ad-infinitum. After all what else is the purpose of being elected except to fill ones bank account.

As for the being premature when posting ameristani news I disagree. ameristani news is valid for a very short time.

As you are aware, or should be, by today some new news will suggest the previous announcement was misspoken or has been denied/surpased by another headline uttered from yet another alleged ameristani appointed official.

I suspect though forcing the ameristani elected officials to repeatedly/or continue passing new laws, which reverse yesterdays laws, would be a step too far and hopefully some would notice. But being a watcher of ameristani and other western counties civilians I wouldn't count on it.

What is apparent is ameristan has competing power centres which vie for monetary gain exclusively, both being bought and paid for lackeys.



Do as we ask or in you go, boy/girl.

Originally Posted by Hugh Cow

If you wish your alternative news

Originally Posted by OhOh

https://www.nytimes.com/reuters/2018/07/27/business/27reuters-usa-congress-trade.html?rref=collection%2Fsectioncollection%2Fr euters-business

The NYT is alternative news? Wow!

All the News We See Fit To Print...

i'm cornering the market on beans and rice

Originally Posted by OhOh

Don't worry, by tomorrow the "old news" will be adjusted. They have whole departments for that task. See 1984.

MiniTru

Repeating a headline that was sensationalised to get a few more hits when you have read the whole story just because it suits your political agenda only proves you have biased analytical skills and this is why I cannot take your comments seriously or as written. Correction on your point. I should have said your alternative viewpoint, not news. In short, your critical analysis of a headline that suits your political agenda is either extremely poor or purely used as self serving propaganda. Which gives you 00 credibility.

^Thank you for your comments.

Originally Posted by Hugh Cow

Should the headline not read. The US MAY POTENTIALY cut tariffs on hundreds of goods, a minority of which are made in China, providing the President agrees .

Once again You have overcooked a headline

Originally Posted by OhOh

The headline states

Quote Originally Posted by OhOh View Post
U.S. Senate Quietly Votes to Cut Tariffs on Hundreds of Chinese Goods

Originally Posted by Hugh Cow

Repeating a headline

Repeating a factually correct headline.

China is not America’s scapegoat, says Chinese WTO envoy




"Ambassador Zhang Xiangchen, China’s permanent representative to the WTO and Ambassador Dennis Shea, the US permanent representative to the WTO, exchanged views just before the meeting. (File photo)

Geneva (People’s Daily) - The General Council of the World Trade Organization commenced its third meeting of the year in Geneva on Thursday. The US permanent representative to the WTO, Ambassador Dennis Shea, criticized China’s economic model on the basis of documents submitted by the US before the meeting. Ambassador Zhang Xiangchen, China’s permanent representative to the WTO, responded comprehensively and resolutely refuted the accusations.

The General Council is the WTO’s highest-level decision-making body in Geneva, meeting regularly to carry out the functions of the WTO. It has representatives (usually ambassadors or equivalent) from all member governments and has the authority to act on behalf of the ministerial conference which meets roughly every two years.

The two-day general council meeting has a total of 10 items on the agenda, the sixth of which is to discuss a paper entitled “China’s trade-disruptive economic model,” submitted to the WTO by the US before the meeting. In a speech at the meeting Shea elaborated on the paper, saying, "In the paper that we submitted for today’s meeting, we focus on China’s economic model, which has proven to be particularly trade disruptive.”

In a subsequent half-hour speech, Zhang not only responded to the remarks of the US representative, but also made a legal evaluation of the US paper. He said in his remarks, Dennis referred to the “non-market nature of China’s economy.” Zhang said, “However, we can't find the definition of ‘market economy’ throughout the WTO rule book. There is no one-size-fits-all ‘market economy’ standard in the world. The WTO rules never authorize any member to use its own economic model as the template of a ‘market economy’, and to accuse any other member who would not copy it as a ‘non-market economy’.”

“If there is any relevance in the topic of ‘non-market economy’, it reminds us once again that there are certain members, including the US, who, disregarding the WTO rules and their own commitments, are still using the notorious ‘surrogate country’ methodology in anti-dumping investigations according to the ‘market economy’ standards of their domestic laws. I would like to take this opportunity to urge these members once again, ‘pacta sunt servanda’. Please honor your commitments 17 years ago,” China’s envoy said"

“If a paper has flaws in its footnotes, then its evidence may be called into question and its arguments will be put into doubt. Paragraph 1.3 of the paper says that China limits the power of the market and cites in its footnote China’s Property Law as a source. But the fact is that the Property Law clearly says that China ‘encourages, supports and guides the development of the non-public economy.’ In the eyes of the US, the very words ‘encourage, support and guide’ could be misread as ‘suppress, limit and intervene’.”

Section 3A of the paper refers to the “non-reciprocal and protected market” of China. But one particularity about this section is that it has not a single footnote. “I presume it is difficult to find evidence that can support this argument. However, if we reverse the argument, we can find plenty of evidence. Let me just offer some,” Zhang said. “In 2017, China’s contribution to the growth of the world economy was 34 percent. China is the largest trading partner for over 120 countries and regions. There is plenty more evidence in the white paper on China and the World Trade Organization that China recently submitted to the General Council in the document 19WT/GC/W/749.”

“The 2013 Report to Congress of the US-China Economic and Security Review Commission co-signed by Ambassador Shea stated that ‘growing demand from China has supported American exports in certain sectors of the US economy, such as aerospace, the auto industry and agricultural products’. If China had been a ‘non-reciprocal and protected market’, how did those US products enter the Chinese market?” asked Zhang.

“The United States is demonizing China and attacking its economic model to divert attention from itself, but China will never bow to US efforts to tie its hands with a new set of trade rules,” Zhang said to the People’s Daily. “At the present moment, the paramount task for the WTO is to curb the spread of unilateralism and protectionism, to bring the dispute settlement mechanism to its full function and to stop the trade war. We should not waste our time finding scapegoats or look away from these fundamental challenges. China is not America’s scapegoat.”

http://en.people.cn/n3/2018/0730/c90000-9486002.html

Originally Posted by OhOh

China is not America’s scapegoat

The scapegoat du jour is Russia.

Factbox - Impact of U.S.-China trade tariffs on U.S. companies


(Reuters) - U.S. companies are putting in place measures to cushion the impact of escalating trade tensions between the United States and China.
The world’s two largest economies have already imposed tariffs on $34 billion worth of each other’s imports.

In his latest threat to the Asian nation, U.S. President Donald Trump has said he was ready to impose tariffs on all $500 billion worth of Chinese imports.

The following is a list of recent comments made by U.S. companies:

** Caterpillar Inc (CAT.N) said U.S. tariffs on Chinese imports are expected to increase its material costs by about $100 million to $200 million in the second half of the year. The heavy machinery maker plans to offset most of the higher costs with mid-year price hikes.

** General Electric Co (GE.N) estimated that new tariffs on its imports from China could raise its costs by $300 million to $400 million overall, before steps to lessen the impact.

** Detroit automakers General Motors Co (GM.N), Ford Motor Co (F.N) and Fiat Chrysler Automobiles NV (FCHA.MI) (FCAU.N) lowered their full-year profit forecasts due to escalating tariffs.

** Boeing Co (BA.N) is concerned about the impact of possible trade tariffs on the cost of running its supply chain, but has not yet seen any impact from U.S.-Chinese trade tensions on its business, Chief Executive Officer Dennis Muilenburg said.

** U.S. industrial conglomerate Honeywell International Inc (HON.N) said it would increase the use of supply chain sources from non-China countries to counter growing costs related to a tariff war between the world’s two largest economies.

** Home furnishings chain At Home Group Inc (HOME.N) said it would make adjustments to its supply chain to mitigate the impact of the proposed tariffs on goods imported from China.

** Home furnishing retailer Pier 1 Imports (PIR.N) says the company does not expect financial results in fiscal 2019 to be materially affected by proposed tariffs. About 59 percent of the company’s fiscal 2019 net sales are expected to be derived from merchandise produced in China.
Of the 59 percent of 2019 sales from Chinese merchandise, about half is expected to have products subject to proposed tariff.

** U.S. motorcycle maker Harley-Davidson Inc (HOG.N) said it expected incremental costs of about $15 million to $20 million for the remainder of the year from the steel and aluminum tariffs imposed by Trump. It also says it will take further hits from retaliatory moves from the European Union.
** Polaris Industries Inc (PII.N), which makes Indian motorcycles, raised its 2018 cost estimates related to tariffs to $40 million from $7 million, and said it expected to ramp up motorcycle production in Poland for European market in 2019 to offset higher costs.

** Diversified industrial manufacturer 3M Co (MMM.N) said it expects an impact of about $10 million, or 1 cent per share, on an annualized basis from the tariffs passed so far. The company also said it was prepared to make changes to supply, sourcing and pricing in response to any further tariffs.

** Paper and packaging company International Paper (IP.N) Chief Executive Officer Mark Sutton says the company has so far not had any direct impact from tariff disputes.

** Otis elevator maker United Technologies Corp (UTX.N) said based on tariffs which have been enacted so far it expects to see 5 cent per share impact in 2018. The company expects to see a much bigger impact in 2019.

** Medical device maker Boston Scientific (BSX.N) said it buys a “very small portion” of components from China and that it has the ability to substitute with other suppliers outside of China since it does not manufacture in the country. ** Upscale home furnishing chain RH (RH.N) expects to reduce significantly the amount of goods sourced from China in its 2019 fiscal year to mitigate the impact of proposed new tariffs by the United States.

** Gentex Corp (GNTX.O), a maker of aircraft windows and rear-view mirrors, said it expected cost increases of between $5 million and $8 million for the second half of 2018 related to its planned purchases of raw materials from China.

** Meat Processor Tyson Foods Inc (TSN.N) cut its full-year profit forecast, citing the uncertainty in trade policies and increased tariffs that have hurt domestic and export prices of meat.

** Toymaker Hasbro Inc (HAS.O) said it was moving more production out of China as a result of the tariffs, adding 30 percent of its manufacturing was now done elsewhere.

** Danaher Corp (DHR.N), which develops technology for the dental, life sciences, diagnostics and environmental industries, said it expected an earnings impact of 1 cent per quarter, and that it would look to modify manufacturing locations.

** U.S. pipeline operator Plains All American Pipeline (PAA.N) said the tariffs were tolerable for the company, but it applied for exemptions. However, the company added that if it could not get the exemption or the required quota of steel, “it would just basically extend and delay growth.”

Compiled by Manas Mishra and Laharee Chatterjee in Bengaluru; Editing by Sweta Singh

https://uk.reuters.com/article/uk-us...-idUKKBN1KK23C

Interestingly not one line on the effects of U.S. tariffs on China. Apparently its alll Ho Hum for the Chinese so one has to wonder why they even bother retaliating. Of course unless those tarriffs really are biting China on the Arse.

Originally Posted by Hugh Cow

Interestingly not one line on the effects of U.S. tariffs on China.

Read the title from the UK Reuters produced article, it gives an educated, aware, poster a clue:

Originally Posted by OhOh

Factbox - Impact of U.S.-China trade tariffs on U.S. companies

However, per your request, an affect of the trade dispute on Chinese companies here:

Henan pig farmers cut soybean pulp consumption amid Sino-US tensions

Xinhua | Updated: 2018-07-31 10:07

[Photo/IC]
ZHENGZHOU－Pig farmers in Central China's Henan province are reducing soybean pulp consumption in response to its rising price amid the trade conflict between China and the United States.

Ye Chuanlin is in charge of a company that specializes in producing pig feed in Henan, known for its large-scale pig industry.

In recent years, Ye's company has been focusing on developing pig feed formulas that contain a lower proportion of soybean pulp. The ongoing trade dispute propelled the company to use new formulas.

"Traditional pig feed contains about 20 percent soybean pulp. But due to the recent trade conflict, we started to cut the amount used in our products by replacing it with desirable alternatives," Ye said.

"Now my company produces a feed with only 10 percent soybean pulp," Ye added.

Soybean pulp consists of insoluble parts of the soybean that remain after the oil is extracted. With multiple factors in play, the price of soybean pulp has recently experienced a slight increase.

According to data released by the Ministry of Agriculture and Rural Affairs, in the first week of July, the average price of soybean pulp rose 3.7 percent compared to the same period last year.

China has the largest livestock breeding industry in the world, and soybeans are a major source of protein in livestock feed. In 2017, China imported more than 32.85 million metric tons of soybeans from the US, accounting for 34.4 percent of China's total soybean imports.

After the US ignited the trade war in early July, China was forced to implement 25 percent additional tariffs on a range of US products, including soybeans.
As the world's two major economic powers trade blows, the pig-rearing industry in Henan is feeling the pain.

Henan has the second-largest number of slaughter pigs in China, with an annual pig slaughter of about 62 million last year.

Official statistics indicate that the 3.2 million tons of soybeans Henan imported from the US in 2017 were able to produce 25 million tons of soybean pulp, which made up more than half of the total volume that the province needed to run the industry.

Meanwhile, from January to May this year, the number of soybeans imported from the US accounted for more than 30 percent of the total soybean imports in Henan, according to Zhengzhou Customs.

Pig farms in Henan said the recent bump in soybean pulp prices will not have a perceptible impact on the breeding industry, as some companies are reducing the percentage of pulp in their products through finding suitable replacements to hedge against the price swing.

Xie Jiangang has a small pig breeding company with 4,000 live pigs in Nanyang city, Henan province.

He said the cost of soybean pulp in pig feed has remained high for some years, but he has used a number of alternatives such as peanut meal, cotton aphid, and corn DDGS－dried distillers' grains with solubles－to reduce the percentage of soybean pulp in the fodder.

To date, Xie has successfully reduced the amount of soybean pulp in pig feed to less than 10 percent and found that the fodder that contains lower soybean pulp does not seem to affect the quality of the pork.

"I have already had five different kinds of sophisticated pig feed formulas, and I will choose the most cost-effective one," Xie said.

Professor Li Ming from Henan Agricultural University said that against the backdrop of Sino-US trade conflict, more pig breeders in Henan will seek to reduce the use of soybean pulp in their pig feed formulas as a countermeasure against the price rise.

"Although the growth rate of pigs may be affected, it will have a positive effect on the general quality of the pork," Li added.

Henan pig farmers cut soybean pulp consumption amid Sino-US tensions - Chinadaily.com.cn


Adapt and survive or not.

It appears the feed processors have adopted an acceptable lower soya been content, from 20% to 10%, and added alternatives in their pig formulae.

The new feed, allegedly, decreases the pigs growth rate and hence increases the farmers costs but allegedly, improves the quality, which may increase the farmers sales figure.

There are other articles of companies in the phone and electronics industries which have been affected more seriously. They again are looking and sometimes have found, alternate suppliers. I'll leave those for you or MK to post, I'm sure VOA has some, if interested.

Trump's overture to emerging Asia drowned out by trade war


SINGAPORE (Reuters)

"When the U.S. Secretary of State flies into Southeast Asia this week with a new investment pitch for the region, the response could be: thanks a million, but please stop threatening a trade war with China that will make us lose billions of dollars.

Analysts say the $113 million of technology, energy and infrastructure initiatives trumpeted by Mike Pompeo earlier this week - the first concrete details of U.S. President Donald Trump’s vague ‘Indo-Pacific’ policy - may be hard to sell to countries that form an integral part of Chinese exporters’ supply chains.

It may even further inflame tensions with Beijing, which has been spreading money and influence across the region via its Belt and Road Initiative development scheme.

“The Southeast Asian capitals are more worried about any blowback effects for them of U.S.-China trade tension than they are about how much they can benefit from this $113 million initiative,” said Malcolm Cook, senior fellow at the Institute of Southeast Asian Studies in Singapore.

“Pompeo has a hard selling job. There is still no real positive trade story for Asia coming out of the United States.”

Hot on the heels of Washington’s new economic plan for emerging Asia came reports the United States could more than double planned tariffs on $200 billion of imported Chinese goods from dog food to building materials. China called it “blackmail” and vowed retaliation.

After a brief meeting with new Malaysian Prime Minister Mahathir Mohamad in Kuala Lumpur, Pompeo will fly to Singapore - a global trading hub that could be one of the hardest-hit in the region by a trade war - for a sit-down with the 10-member Association of Southeast Asian Nations (ASEAN) on Friday.

Singapore’s biggest bank, DBS, estimates that a full-scale trade war - defined as 15-25 percent tariffs on all products traded between the U.S. and China - could more than halve Singapore’s growth rate next year from a forecast 2.7 percent to 1.2 percent. Malaysia’s growth rate in 2019 could fall from an estimated 5 percent to 3.7 percent.

“We are all acutely aware of the storm clouds of trade war,” Singapore’s Foreign Minister Vivian Balakrishnan said at the opening of an ASEAN foreign ministers meeting on Thursday that precedes meetings with the United States and other nations.

Singapore’s Prime Minister Lee Hsien Loong said earlier this year that a trade war would have a “big, negative impact” on the country.

Ratings agency Moody’s said this week that an escalation of trade tensions in 2018 had become its “baseline expectation”, and that Asia was “especially vulnerable” given the integration of regional supply chains."

https://uk.reuters.com/article/us-us...-idUKKBN1KN090

US almond growers anxious over tariffs

By LIA ZHU (China Daily) 08:38, August 08, 2018




"Amid expectations of a robust harvest, California's almond growers are anxious over reduced demand due to new tariffs imposed by other countries. California's almond industry, projected to yield a record 2.45 billion pounds of the nuts this year, faces retaliatory tariffs in China, Turkey and India.

China imported 151 million pounds of California almonds last year, making it the state's third-largest overseas market. The Chinese duty on almonds from the United States has now risen to 50 percent from 10 percent after two rounds of tariffs in April and July.

"The impact now is more anxiety, because we don't know how it's going to be in the long run," said Jake Wenger, an almond grower in Modesto, California, and vice-president of the Stanislaus County Farm Bureau Board.

"When you have one harvest a year, you are basically working all year spending money on pest control, fertilizer and water, and hoping that at the end of the year you make enough money to cover your costs and then make a little bit yourself. Nobody wants to work for free or lose money," said Wenger.

The industry's two biggest concerns are importers' requests for delaying shipment on existing contracts for the 2017 crop, and an overall reduction in contracting for the new crop, said Richard Waycott, president and CEO of the Almond Board of California, a nonprofit representing more than 6,000 almond growers and processors.

"What we are seeing is uncertainty that has been in the marketplace for several months now, and it is affecting normal buyer-seller relationships," he said.

According to the board's monthly market report, exports to China dropped in June to almost half the level seen in the same period last year.

Two factors played a role in the falling shipment volume: postponement of some shipments and a record shipment last year, said Waycott.

California produces almost all US commercial almonds and 82 percent of the global supply. Almonds are California's third-biggest revenue earner among commodities.

The only other significant supplier to China is Australia, which negotiated a free-trade agreement with Beijing five years ago. The tariff on Australian almonds will drop to zero on Jan 1.

"I know many Chinese buyers are attempting to buy from Australia to avoid the tariffs on US products, but the volume is not sufficient to satisfy Chinese demand," Waycott said.

"Another impact would be if Chinese buyers switch preference to other nuts, like macadamia nuts, or hazelnuts, until the situation is resolved," he added.

The board has been actively investing in China for about 30 years. Its consumer education program in China is the largest one outside of the US. "We will continue to be a longtime partner in the nut business in China," said Waycott.
From a grower's perspective, the only thing they can do to control the negative impact is to control costs, including using less fertilizer, and reducing labor costs, said Wenger.

"We get paid the price that people are willing to pay for our products," he said.

The industry will get a better idea where prices will be within around three months, by which time the growers will be wrapping up harvest season. But they won't see the full picture until about a year from now when they get final payment, said Wenger.

"We hope by then we can have trade agreements that can get rid of the tariffs. As a grower, we lean on our elected leaders to develop trade policies that allow fluid movement of US goods and commodities into the world market," he said.



US almond growers anxious over tariffs - People's Daily Online

Will 3D printing revolutionise manufacturing for the masses as opposed to the entrenched 0.001%

3D Printed Guns: Debating Inevitability





"3D printing and other forms of computer-controlled manufacturing have allowed nations, companies and even individuals the ability to go from consumers to producers. As this technology improves and costs drop, access to this technology and the ability of the technology itself will increase, making it possible for virtually anyone, anywhere to make virtually anything.

In May 2018, prominent US-based corporate-funded policy think tank, RAND Corporation, had published an article titled, “Four Ways 3D Printing May Threaten Security.” In it, an argument was made about the dangers of 3D printing becoming more accessible, first by citing 3D printed guns as well as drones and other forms of technology it claimed criminals and terrorists could leverage. But then RAND would reveal a threat, particularly to its corporate sponsors, that highlighted the true fears 3D printing invokes among the captains of established industries — decentralization.

The fear of 3D printing “taking jobs” for example, can more accurately be described as taking both jobs and revenue from large corporations and shifting them both to small companies or individual entrepreneurs. Along with this shift, goes the concentration of wealth and influence these large corporations have enjoyed, some since as early as the beginning of the Industrial Revolution.RAND also feared nations targeted by US sanctions being able to easily circumvent them by acquiring the parts and systems required by simply manufacturing them themselves through the use of technology like 3D printing. In reality, RAND and other representatives of established industries seem more concerned about losing their wealth and influence than of any “threat” such technologies might or might not actually pose."

Continues at:

https://journal-neo.org/2018/08/08/3...inevitability/

China, UN to safeguard free trade



"Li states nation's commitment to multilateralism, global commerce

China is ready to work with other countries and the United Nations in supporting multilateralism and the free trade system, which are confronted by rising trade protectionism, Premier Li Keqiang said on Wednesday.

The country will firmly safeguard the authority of the UN, adhere to principles of the UN Charter and support its core role in international affairs, said Li during a meeting with Maria Fernanda Espinosa Garces, the newly elected president of the UN General Assembly for the 73rd session, in Beidaihe district, Qinhuangdao, Hebei province.

Espinosa Garces, an Ecuadorean diplomat, will assume office next month.
Fundamental rules of the World Trade Organization should be safeguarded, and the free trade system should be improved to promote trade liberalization and investment facilitation, and to fight against trade protectionism, the premier said.

As a permanent member of the UN Security Council and the world's largest developing country, China has been supporting the UN's work, Li said. China will participate in UN missions in various fields - such as politics, peacekeeping and development, and economic affairs - in comprehensive and in-depth ways, the premier said. The country will fulfill its international obligations and promote world peace, foster global development and safeguard the international order, he said.

Over the past seven decades since the founding of the UN, the world has seen relative peace and more than a billion people have been lifted out of poverty, while increasing numbers of countries are undergoing development and attaining prosperity, the premier said. All of these achievements have been closely connected with the process of globalization and multilateralism, he said.

Against the current international scenario, a multilateral world is needed now more than ever, Li said. He called on all countries to safeguard the rules-based international order, adhere to the principles of the UN Charter and resolve disputes through dialogue.
Li said the UN and the WTO should be reformed and improved based on the international order after World War II, and according to major principles such as the UN Charter and free trade.

Espinosa Garces said the UN has attached great importance to its relations with China. She spoke highly of the country's vital role in strengthening multilateralism and its enormous contribution to the UN's work.
The UN is ready to work with China and other countries in safeguarding the rules-based international order, promoting free trade under the framework of international laws and WTO rules, and boosting economic globalization that is inclusive and beneficial for everyone, she said.
The two sides should work together to cope with challenges and promote global peace, stability, development and prosperity, Espinosa Garces added."

China, UN to safeguard free trade - People's Daily Online



Working with partners for the win/win again.

Oh good.

They can start by dismantling their bases in the South China Sea, release all the Uyghurs and compensate them and their families for everything they have done to them, and completely piss off out of Tibet.

Handling of U.S. trade dispute causes rift in Chinese leadership: sources

BEIJING (Reuters) - A growing trade war with the United States is causing rifts within China’s Communist Party, with some critics saying that an overly nationalistic Chinese stance may have hardened the U.S. position, according to four sources close to the government.

President Xi Jinping still has a firm grip on power, but an unusual surge of criticism about economic policy and how the government has handled the trade war has revealed rare cracks in the ruling Communist Party.


A backlash is being felt at the highest levels of the government, possibly hitting a close aide to Xi, his ideology chief and strategist Wang Huning, according to two sources familiar with discussions in leadership circles.


A prominent and influential academic whose views have found favor in some party quarters has also come under attack for his strident views on Chinese power.


Wang, who was the architect of the “China Dream”, Xi’s vision for China to become a strong and prosperous nation, has been taken to task by the Chinese leader for crafting an excessively nationalistic image for the country, which has only provoked the United States, the sources said.


MORE. https://www.reuters.com/article/us-u...-idUSKBN1KU0TU

I'm fighting back against Trump's global economic war. I'm buying much less from the US. I'm either greatly reducing or eliminating products that I buy that originate from the USA and/or are well known US brands (as far as I can determine). Fuck Trump.

Originally Posted by Neverna

I'm fighting back against Trump's global economic war. I'm buying much less from the US. I'm either greatly reducing or eliminating products that I buy that originate from the USA and/or are well known US brands (as far as I can determine). Fuck Trump.

Good onya, Nev.
Buy local only.

Originally Posted by Neverna

I'm buying much less from the US.

Just curious what do you buy here from the US... (I assume you do not buy weaponry, do you?)