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Haha, Even CHINA newspaper admit "China should cut losses and concede defeat"

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Old 11-08-2018, 08:53 PM   #1
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Haha, Even CHINA newspaper admit "China should cut losses and concede defeat"

https://www.scmp.com/comment/insight...sses-trade-war

China should cut its losses in the trade war by conceding defeat to Donald Trump


Xu Yimiao writes that China is running out of retaliatory tariffs against the US and has watched other major parties like the EU and Japan close ranks against it. Before the trade war gets more severe, Beijing’s leaders should seek direct talks with Trump, and may have to swallow their pride

Some serious discussions are going on in China as the country faces an escalating trade war with the United States, slowing domestic growth and increasing investment restrictions in the US and Europe. There seems to be recognition that the previous playbook drafted by hardliners has not worked and Beijing needs to change its strategy.

Beijing’s strategy of a tit-for-tat retaliation over tariffs has clearly failed. In fact, this strategy escalated the conflict. The direct retaliation after the US announced the first batch of 25 per cent tariffs on US$50 billion in Chinese goods (with the increase from US$34 billion just finalised and coming into effect on August 23) brought few benefits for China. If anything, it gave the US an excuse to plan for a new batch of tariffs covering US$200 billion in Chinese goods. To be fair, it is possible that the US would have escalated the conflict even if China had not retaliated, but whatever the case may be, China’s strategy did not work.

On the evening of August 3, Beijing decided to implement differentiated tariffs over US$60 billion in US exports and on August 8 released a list of an additional US$16 billion worth of American goods to hit with tariffs. Beijing is nearing its tariff retaliation limit.

It was rumoured that Beijing had been trying to line up with the Europeans, as well as other nations, to fend off the tariff threat from the US, but it seems this strategy is not working either.

On July 26, after European Commission President Jean-Claude Juncker’s visit to Washington, the EU and the US reached an agreement on trade. It is true that the joint statement itself is vague and does not mean the trade troubles between the EU and the US are wholly resolved, but in the eyes of Chinese observers this significantly reduced the chance that the Europeans would join forces with China. In fact, European Council President Donald Tusk tweeted that “America and the EU are best friends”. He was echoed by the vice-president of the European Commission, Frans Timmermans, who tweeted, “Europeans and Americans are bound by history and their shared values”.

The development is alarming for Chinese observers as they fear that China is being left behind and is under siege. Trade progress or deals have also been made elsewhere. On July 16, Japan and the EU signed the largest free-trade agreement ever; trade officials from the US and Japan are also meeting this week. It was also reported that Mexican officials expressed optimism about a Nafta deal soon. US President Donald Trump has even talked about the possibility of meeting with Iranian leaders on a “no precondition” basis. It seems that China is the only major country that is not making any progress.
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Old 11-08-2018, 08:54 PM   #2
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scmp is not a tiong paper rah
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Old 11-08-2018, 08:55 PM   #3
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SCMP is hong kong papers
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Old 11-08-2018, 08:57 PM   #4
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scmp is not china paper. it is a hk based. its known for not very pro communist.
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Old 11-08-2018, 08:59 PM   #5
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Xu Yi miao not tiong meh?
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Old 11-08-2018, 08:59 PM   #6
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If people’s daily reprint this article
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Old 11-08-2018, 09:00 PM   #7
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scmp is not a tiong paper rah
SCMP is hong kong papers
scmp is not china paper. it is a hk based. its known for not very pro communist.
Haha, caught all pro-CHINA people

So, you all say, Hong Kong is not part of China?
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Old 11-08-2018, 09:00 PM   #8
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Writer is gonna get sent to a concentration camp
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Old 11-08-2018, 09:00 PM   #9
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CTGN Tiong enough for you???

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Old 11-08-2018, 09:01 PM   #10
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white people are friends with white people

atlantic ocean will never separate them
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Old 11-08-2018, 09:02 PM   #11
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Old 11-08-2018, 09:02 PM   #12
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Sayang_ol say this one all fake news
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Old 11-08-2018, 09:05 PM   #13
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Haha, caught all pro-CHINA people

So, you all say, Hong Kong is not part of China?
that means taiwanese news is also China news ?
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Old 11-08-2018, 09:05 PM   #14
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Sayang_ol say this one all fake news
CTGN is CCTV9
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Old 11-08-2018, 09:05 PM   #15
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want to bash also must use a clone account, haizz.
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