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It turns out China is not a Painting contractor

danmand

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Snyder: China Is Extremely Angry, And Now Considers The United States To Be Enemy #1

Mon, 08/05/2019 - 11:50

Authored by Michael Snyder via The Economic Collapse blog,

Have relations between the United States and China finally reached the point of no return? At this moment, it would be difficult to overstate how angry the Chinese are with the United States.



Chinese officials are firmly blaming the United States for the enormous political protests that we have witnessed in Hong Kong in recent weeks, and on Thursday President Trump slapped another round of tariffs on Chinese imports. Sadly, most Americans aren’t even paying much attention to these developments, but over in China everyone is talking about these things. And of course the truth is that they aren’t just talking – the Chinese are absolutely seething with anger toward the U.S., and they aren’t afraid to express it.


Airbnb Is Giving Away a Stay on the Great Wall of China
Let me give you a perfect example of what I am talking about. One of the most highly respected news anchors in China, Kang Hui, actually used an expletive when referring to the United States during a news broadcast earlier this week. Normally I would never have such language in one of my articles, but this comment made headlines all over the globe, and I think that it is very important for all of us to understand what the Chinese are saying about us. So since this is a news item of critical importance, I have decided not to censor this quote at all. The following comes from the New York Times…

“They stir up more troubles and crave the whole world to be in chaos, acting like a shit-stirring stick,” Mr. Kang said on the usually stolid 7 p.m. national news program on CCTV, China’s state broadcaster. The expletive quickly became one of the most-searched-for phrases on Chinese social media.

In a follow-up video on a CCTV social media account, Mr. Kang boasted about how he had taunted the United States.

“If a handful of Americans always stir up troubles, then we are sorry,” he intoned. “No more do we talk about certain issues. We will also target you. We will bash you till your faces are covered with mud. We will bash you till you are left speechless.”

Could you imagine Anderson Cooper saying something similar about China on CNN?

And actually Mr. Kang likely has far more viewers than Anderson Cooper does.


Most Americans spend very little time thinking about relations with China, but over in China they are absolutely furious with us right now, and the developing situation in Hong Kong is one of the biggest reasons for that anger. Millions of people have flooded the streets of Hong Kong in recent weeks, and it appears that the Chinese have decided that enough is enough. According to Bloomberg, U.S. officials are closely watching “a congregation of Chinese forces on Hong Kong’s border”…

The White House is monitoring what a senior administration official called a congregation of Chinese forces on Hong Kong’s border.

Weeks of unrest in the Chinese territory have begun to overwhelm Hong Kong’s police, who have found themselves in violent clashes with protesters. China warned Monday that the civil disorder had gone “far beyond” peaceful protest after police deployed tear gas over the weekend.

Could it be possible that Chinese forces could soon storm across the border?

And there have also been other signs that China is about to do something drastic…

And also on Wednesday, Chen Daoxiang, the commander of China’s military garrison in Hong Kong — which holds around 6,000 troops — said his forces were “determined to protect national sovereignty, security, stability and the prosperity of Hong Kong.” His remarks came as China released a new propaganda video which include armed forces practicing shooting at protestors, after which he underscored his support for the city’s chief executive for “rigorously enforcing the law.”

Yes, Hong Kong is now technically part of China. But according to the agreement that was signed when the British handed over Hong Kong, the city is supposed to be allowed to govern itself to a large degree until 2047…

After taking over Hong Kong in a war in the 1800s, Britain returned it to China in 1997 with an important stipulation: The city would partly govern itself for 50 years before fully falling under Beijing’s control. So until 2047, the expectation was that the city and the mainland would operate under the principle known as “one country, two systems.”

So if China ends up sending troops into Hong Kong to end the political protests, the Trump administration will be extremely upset, and tensions between our two nations will go up several more notches.

A new development in the trade war is the other reason why the Chinese are so angry with us right now.

After President Trump hit China with new tariffs on Thursday, China’s ambassador to the United Nations warned that the Chinese are prepared to implement “necessary countermeasures”…

China’s new ambassador to the United Nations, Zhang Jun, said Beijing would take “necessary countermeasures” to protect its rights and bluntly described Trump’s move as “an irrational, irresponsible act.”

“China’s position is very clear that if U.S. wishes to talk, then we will talk, if they want to fight, then we will fight,” Zhang told reporters in New York, also signalling that trade tensions could hurt cooperation between the countries on dealing with North Korea.

In other words, the Chinese are not going to back down one bit, and they are going to hit us back hard.

[ZH: And if there was any further evidence required, the lack of intervention to stall a collapse in the yuan overnight shows China's willingness to escalate tensions via a currency war]



And Chinese Foreign Ministry spokesperson Hua Chunying said similar things when she addressed reporters on Friday…

“China will not accept any form of pressure, intimidation or deception,” Chinese Foreign Ministry spokesperson Hua Chunying said at a press conference Friday.

China‘s Ministry of Commerce released a statement that said Beijing would impose countermeasures.

“The U.S. has to bear all the consequences,” the statement said. “China believes there will be no winners of this trade war and does not want to fight. But we are not afraid to fight and will fight if necessary.”

In the end, it is very true that there “will be no winners” in this trade war. The Chinese know where our pain points are, and they will not be afraid to fight dirty.

A rapidly deteriorating relationship with China is a big part of the scenario that we have been anticipating. As I discussed yesterday, it is exceedingly unlikely that there will be a trade deal between the United States and China before the 2020 presidential election. And to be honest, it is far more likely that our conflict with China will escalate well beyond just a “trade war” in the months ahead.

The two largest economic superpowers on the entire planet are now locked in a monumental struggle for dominance, and it is going to result in a tremendous amount of economic pain for the entire planet.

Unfortunately, most Americans are completely and utterly clueless about what is going on, and so most of them are still convinced that everything is going to be just fine.
 

oldjones

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You mean you can't treat China like dirt, stiff them for their money after they've delivered and expect them to put you in office?
 

Darts

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What is Trudeau doing to protect the 300,000 Canadians in Hong Kong.
 

whiteshaft

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Trudeau and his foreign affairs subordinates appear to be rather quiet these days in the sense that they have yet to openly criticize China regarding the riots in Hong Kong.
 

onthebottom

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danmand

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bver_hunter

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Plain idiocy as China are all set to play this Chess Game with trump until it is a Checkmate one way or the other. But the sore losers will be the Low Income wage earners and a damaged economy. The right wingers are now praising Schumer for his support on this aspect. All along they were berating him. But if in the past we said the same about The Late and Valiant John McCain, then the abuses heaped on him by the right wingers were disgusting!!

Trade Wars Are Not Good, or Easy to Win:

Stocks plunged this afternoon in Wall Street's worst day of the year, as the trade war between the United States and China entered a dangerous new phase that could imperil the historic US recovery.

The Dow Jones Industrial Average and the S&P 500 both fell 3 percent. Oil crashed. The spread between 3-month and 10-year Treasury rates — the "yield curve," which has historically served as a prescient indicator of the economy—inverted to its widest level since 2007, the year the U.S. fell into the Great Recession.
In March of 2018, the president declared that "trade wars are good, and easy to win.” Today was evidence that, in fact, they are neither.

The yuan, which is tightly controlled by the People’s Bank of China, dipped sharply and hit an all-time low in offshore trading—a dramatic escalation in the standoff between the White House and Beijing. But the currency depreciation isn't just an omen. A cheaper yuan would also have an immediate effect on global trade, making Chinese exports more affordable, while reducing its demand for global goods and services—like iPhones, oil, and tourism. The state-run Xinhua News Agency also announced that the Chinese firms would stop buying American agricultural goods, entirely.
The domestic U.S. economy remains strong. Unemployment is low, consumer sentiment is high, and wage growth has been promising for low-income workers. But the yuan’s devaluation is especially bad news for multinational companies with exposure to the Chinese marketplace. Technology firms like Apple and IBM, which both have billions of dollars in annual sales from the Chinese market, both crashed in Monday trading.

It’s generally prudent to say that the American president doesn’t determine the stock market’s gyrations or the nation’s overall economic growth any more than a boat captain controls the ocean’s waves. In this case, though, the captain seems to be purposefully steering the ship into a swell while everybody around him screams “STOP!” President Trump has stubbornly insisted on Chinese tariffs over the objections of his economic advisors—not to mention the near-universal outcry of the professional economic community. In a University of Chicago poll of several dozen international economists, zero disagreed with the claim that “the incidence of the latest round of US import tariffs is likely to fall primarily on American households."

Just because the president's trade war is masochistic doesn't mean Trump is entirely wrong in his diagnosis that China is a bad actor. The country’s long history of intellectual property abuse spans counterfeiting, stealing trade secrets, and forcing companies to give up their IP to do business in the mainland. A 2019 CNBC survey found that one in five U.S. corporations say China has stolen their IP in the last year.

Still, the president is playing a dangerous game of high-stakes poker, with American wages and savings as the chips at the center of the table. And, of course, the stakes can always get higher: Trade wars can become literal wars. In 2015, the Chinese state-owned newspaper Global Times wrote in one saber-rattling editorial that if the U.S. presses China to accept all of its trade demands, “then a US-China war is inevitable in the South China Sea.”

An armed conflict between the two countries would be both catastrophic and anomalous. According to research by JP Morgan analyst Michael Cembalest, the U.S. and China are more economically linked through bilateral trade, foreign direct investment, and central bank holdings than any two countries that have declared war since the 1930s. A violent showdown between the U.S. and China in the near future remains extremely unlikely. But if Donald Trump has taught the world anything in the last two-and-a-half years, it’s that this presidency does not seem particularly constrained by the forces of historical precedent.

https://www.theatlantic.com/ideas/archive/2019/08/trade-wars-are-not-good-or-easy-win/595546/
 

Darts

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jcpro

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China and its emperor for life have finally run into a wall. It is up to America who has access and the level of access to the American market. China can throw a fit, but that will not replace good faith negotiations. Not with this President, anyway. I wish our PM had the balls, especially with China holding out citizens hostage. As for the Hong Kong "Canadians" of convenience- move to Canada or fuck off.
 

Polaris

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China and its emperor for life have finally run into a wall. It is up to America who has access and the level of access to the American market. China can throw a fit, but that will not replace good faith negotiations. Not with this President, anyway. I wish our PM had the balls, especially with China holding out citizens hostage. As for the Hong Kong "Canadians" of convenience- move to Canada or fuck off.
China wants to decouple from the Americans.

Even it says it wants to work together, they know if the Chinese economy and American economy decouple with technology, China will come out on top no question about it.

The Americans are running two big risks if the economies decouple.

One is technology, as the biggest market for US tech, which is China, will be cut off. When that happens, no more profits for R&D. With no more R&D, there is no way American tech lead the world anymore. You can bet on that 100%.

Two is the US dollar. When the two economies decouple, there could be a China centered block and a US centered block. Why on earth will both blocks still use the USD? There is no reason to expect that in the long run.

Such simple things, yet the boot licking media never publish.

If the Americans want to break apart the Sino-US economic relationship, then dare, double dare, that is what the Chinese are really saying.
 

Polaris

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Snyder: China Is Extremely Angry, And Now Considers The United States To Be Enemy #1

Mon, 08/05/2019 - 11:50
This article I find to be 10% false and 90% over the top.

1. The alleged troop build up near Hong Kong, that is plainly false. The PLA birthday is 8/1. They always have a celebration. In the western media, it is reported as a build up. In China it is a birthday party.

2. The Chinese right now are not seething angry, they are laughing their asses off over the trade war. So Trump raises the tariff another 10%. Hasn't he done this before, and what has that gotten him except upset farmers and industrialist, the very people who voted for him. The Chinese have finally came to the conclusion that this is "irrational" which means Trump actually believes China pays for his tariffs. Everyone thought Trump was being cynical with the tariffs, but this extra 10% finally proves he actually believes Navarro and has it all backwards. China is laughing their asses off at that fool Trump. However, officially, the People Republic of China government position is huff and puff, how dare he do this! Bwahahahahahaha!

3. The Taiwan situation matters, because apparently they have been supplying a lot of the hard hats and umbrellas to the students and young people protesting in Hong Kong. Also the Americans are giving some advice. That is to be kind of expected, but the current movement has more or less branched out from anyone's control. It is like a fire. It burns bright, it accelerates, then it dies down and gets extinguished. The protesters in Hong Kong are using more and more hardline methods, because they are not really anywhere. The Hong Kong public have deep misgivings about the proposed extradition law, but do not support the on going street battles. Right now, the current protests where the youth disrupt transportation, really no different than the original Umbrella Movement, and we know what eventually happened to that. Right now, the authorities are going to wait for Hong Kong. Let them protest.

:ambivalence:
 

jcpro

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China wants to decouple from the Americans.

Even it says it wants to work together, they know if the Chinese economy and American economy decouple with technology, China will come out on top no question about it.

The Americans are running two big risks if the economies decouple.

One is technology, as the biggest market for US tech, which is China, will be cut off. When that happens, no more profits for R&D. With no more R&D, there is no way American tech lead the world anymore. You can bet on that 100%.

Two is the US dollar. When the two economies decouple, there could be a China centered block and a US centered block. Why on earth will both blocks still use the USD? There is no reason to expect that in the long run.

Such simple things, yet the boot licking media never publish.

If the Americans want to break apart the Sino-US economic relationship, then dare, double dare, that is what the Chinese are really saying.
Who would want to use Chinese currency as a benchmark if the Chinese keep manipulating it? And what's the use for R&D if it only gets stolen by China?
 

Butler1000

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Who would want to use Chinese currency as a benchmark if the Chinese keep manipulating it? And what's the use for R&D if it only gets stolen by China?
And if anyone thinks they can trust the Chinese banking system to treat them fairly........or the govt in a contract dispute.......
 

jcpro

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And if anyone thinks they can trust the Chinese banking system to treat them fairly........or the govt in a contract dispute.......
Well, there's that, too.
 

onthebottom

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China wants to decouple from the Americans.

Even it says it wants to work together, they know if the Chinese economy and American economy decouple with technology, China will come out on top no question about it.

The Americans are running two big risks if the economies decouple.

One is technology, as the biggest market for US tech, which is China, will be cut off. When that happens, no more profits for R&D. With no more R&D, there is no way American tech lead the world anymore. You can bet on that 100%.

Two is the US dollar. When the two economies decouple, there could be a China centered block and a US centered block. Why on earth will both blocks still use the USD? There is no reason to expect that in the long run.

Such simple things, yet the boot licking media never publish.

If the Americans want to break apart the Sino-US economic relationship, then dare, double dare, that is what the Chinese are really saying.
That’s silly, the US is 19.2% of Chinese exports. It’s economy is slowing, it can’t afford to lose the US.

China is a whopping 8.6% of US exports which is about a quarter of exports to Asia (hence the trade war.

Linking its currency with the USD buys it credibility, China isn’t transparent or trustworthy.
 
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