Treasury Secretary Steven Mnuchin told CNBC on Wednesday the U.S. and China were close to a trade deal, and he’s optimistic that progress can be made during weekend talks between President Donald Trump and China’s Xi Jinping.
Mnuchin says they are 90% of the way to a deal with a path to completion.
The G20 meeting will be on Friday, Jun 28, 2019 and Saturday, Jun 29, 2019.
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Its nice to know everyone is on the same page for once. I am sure the Chinese are thrilled. All those plans of world domination … down the drain. Sadly, the US failed to kowtow and be used as a steeping stone under the mandate of heaven. What a bunch of rubes.
In 2007 China’s growth rate was 14.2%. In 2010 it was 10.6%. In 2013 it was 7.8%. in 2018 it was 6.6%. Where do you see this pattern going in 10 or 20 years? China’s economy is maturing, and mature economies grow slower because the low hanging fruit has already been picked. Maybe you don’t see a pattern, but you can hardly be called objective about China can you?
I guess you missed the USMCA and the changes to the South Korea deal then. But keep telling your self that he will not follow through on what he has been saying for his entire life.
I watched the Senate Finance committee hearing with Lighthizer last week and it was so non-partisn, professional, and productive I had to pinch myself to make sure I wasn’t hallucinating.
I’ve been saying it for over a year now: there will be no trade deal. This is all political theater.
I am far from a Trump fan, but even I backed him on his China tariffs. I just wish he had handled our allies better, concentrated on China and handled our traditional allies with more respect and discretion. Heck, even the members of the Democratic Party in office back him on this, which in our hyper partisan politics is little short of shocking.
Take a look at an economic growth graph for China over the last five years and get back to us. You’ll find it looks like a waterfall, not a plateau.
That matches my take on it as well. Even if the Chinese government says they will, they will not. It would probably be best just to take China off our intellectual property protection laws as well. Then we can hack them, steal their IP, reverse engineer any new advances they make. We could build products from their stolen IP in countries like India or Vietnam for pennies on the Yuan and sell them in our markets.
We would have an entire new industry of companies around the world with nothing better to do than steal from China. Might as well, turn about is fair play. I would be willing to bet they’ll regret this decision in record time considering the growth of their country as a developed economy will depend on new advances the same as ours does, but it will be too late by then.
I don’t anticipate a quick deal being made. That last 10% will be harder to bridge than the 90% so far.
”State Council adviser Shi Yinhong says America’s insistence on strong intellectual property protections is asking too much of Beijing…
..Washington demanded a strong enforcement mechanism while Beijing wanted more leeway.
He said China could only agree to a “relatively weak enforcement mechanism” without too much scrutiny and there should not be automatic penalties for violating the agreement.”
https://amp.scmp.com/news/china/diplomacy/article/3014057/us-accused-undermining-trade-talks-demanding-hundreds-changes
Do you believe in gangster god?
Trump likely thinks it’s been more of the fussing and pretending to be tough phase than he intended since the Chinese pulled back last time. It’s getting to the cave and give them whatever they want phase of his Art of the Deal that we’ve seen so many times before. Soon it will be time for the claim total victory and deny anything critical of it phase.
Except China will not accept the deal THEY agreed to and make the final concessions. It is not their way and even if they do sign the deal they will not abide by it. And the reason there will be no deal is because China is dictating what may or may not be discussed at the G20 and by Trump which means Trump WILL bring up Hong Kong, the muslim concentration camp, organ havesting and if he truly wants to make Xi walk Tibet and Taiwan. Trump can force Xi to walk out of the room in a huff at any time where regardless of what Xi says Trump will listen and when he is done if he has not agreed to Trump’s demands, Trum will say he will say he is done and then politely walk out. He will then proceed to beat China to death economically with the International Economic Emergency Powers Act. https://www.law.cornell.edu/uscode/text/50/chapter-35
Jawing the market, AGAIN? Is anyone still listening?
A miss is by a mile.