An interesting take from Andy Puzder about China’s economy:
A spokesman for China says they remain on equal footing as the U.S. to come to an agreement; Edward Lawrence reports from the White House.
President Trump is exposing China’s economic vulnerability, showing that the communist nation cannot maintain its rapid growth without it patently unfair mercantilist trade policies.
The Chinese government recently announced that its GDP growth for 2018 of only 6.6 percent – the country’s slowest rate of economic development since 1990. Growth in the fourth quarter declined to 6.4 percent. For the second half of 2018, Chinese investment, consumer spending, manufacturing and exports all slowed markedly with the current trade war with the U.S. hurting China more than anticipated.
And that’s assuming the numbers are accurate. Economists have long questioned the accuracy of China’s official economic data. In any event, China’s economy is rapidly decelerating – and that’s no coincidence.
For the first time in decades, the U.S. has openly challenged Beijing’s aggressive trade manipulations, slapping targeted counter-tariffs on Chinese goods and pressuring the Communist regime to change its protectionist policies. So far, the strategy has been remarkably successful, forcing Beijing to lower its tariffs on U.S. automobile manufacturers by 25 percent while continuing to negotiate with the White House on a potential trade deal.
While President Trump’s trade policies are great news for American workers, they also have a hidden geopolitical component that mainstream media too often ignores. There is very little doubt that China seeks to become a regional hegemon and pursue geopolitical objectives in conflict with American interests. For example, by backing the North Korean regime and pursuing territorial ambitions in the South China Sea in recent years, Beijing has clearly demonstrated its desire to weaken Washington’s influence in Asia. There is very little doubt that China’s growing bellicosity is directly fueled by its powerful economy – as China’s GDP began growing at a staggering pace 20 years ago, so too did its military.
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