We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

We're at the mercy of Trump and his tweets

3 0 0
08.08.2019

Two things are clear in what is happening between the US and China. First, the US is really struggling to come to grips with the rising (risen) China. Second, Donald Trump, contrary to his self-assessment, is not a negotiator's bootlace.

Currency woes: A bank employee counts US dollar banknotes next to stack of 100 Chinese yuan notes at a bank outlet in Hai'an in eastern China. China's yuan fell further this week against the US dollar, fuelling fears of increasing global damage from Beijing's trade war with Donald Trump. Photo: AP

Trump's so called "trade war" is totally ill-conceived and counterproductive to both sides and to the world economy. What, realistically, can he hope to achieve by way of a "deal"?

It is hard to believe that this will "fix" the US trading deficit with China - there's virtually no effect so far. Sure, it is having an impact on China's growth rate, but in the context of a broader collapse in world trade that is affecting all trading nations.

Trump has completely failed to recognise, indeed has underestimated, China's capacity to respond to his tariff increases. China's initial response was very clever, to announce........

© Canberra Times