Monday, May 21, 2018
Two Heavyweights
Engage In Chess Match
While the new Duke and Duchess of Sussex
(a large, scenic county with cliffs along the English Channel) unite in marriage, the U.S. and China are breaking up. But, it's only a mutual, partial agreement, not an all out divorce.
Trade has a long history. Esau traded his birthright for bread and lentil stew. Marco Polo and others traded gemstones for silk, or was it the other way?
President Obama traded five high-level terrorists for one, AWOL soldier. Long ago, we kids traded baseball cards.
Could we say, Jesus traded places with the entire human race?
In terms of worldly wealth and goods, U.S.-China trade has lifted hundreds of millions out of poverty, gave Americans boatloads of affordable consumer goods, and provided more than a billion customers for American farmers.
But, the two partners don't need each other as before, and are rethinking their $700 billion annual trade in goods and services, says the New York Times.
By 2025, China plans to be competitive in 10 advanced manufacturing sectors now dominated by the West. We have our own strategy of sorts, to reduce our reliance on Chinese-made components, machinery and other essentials.
President Trump is targeting industries where customers might easily switch to suppliers at home or in friendly countries. The Administration plans tariffs on products China doesn't yet export, but hopes to in the near future.
So, probably no BIG trade war. More like a chess match. That's not to say it's friendly competition. (Ancient) China's government believes the world belongs to them. They are working to make it reality, stealing and cheating as they go.
By the way, anyone have a Bob Feller baseball card you're willing to trade for a Joe DiMaggio?
Jimmy
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