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Bugs





Joined: 16 Dec 2009
Posts: 5715
Reputation: 282.4
votes: 8

PostPosted: Wed Jun 13, 2018 5:58 pm    Post subject: Reply with quote

Well, the good thing is we will be able to see how it works out.

My bet is it'll probably be a lot like Everyone in Trump World knows he's an idiot -- another of TC's triumphant predictions.

By the way, you mention all these sites where experts in trade linger ... why not give us a hint about where they are.
Toronto Centre





Joined: 12 Feb 2011
Posts: 1095
Reputation: 116.3
votes: 4
Location: Toronto

PostPosted: Wed Jun 13, 2018 6:18 pm    Post subject: Reply with quote

Bugs wrote:
Well, the good thing is we will be able to see how it works out.

Ohhh lovely cop out when schooled.
Quote:

My bet is it'll probably be a lot like Everyone in Trump World knows he's an idiot -- another of TC's triumphant predictions.

Seems I am already correct

Fox News thinks he is on trade.
IMF thinks so.
Quote:

By the way, you mention all these sites where experts in trade linger ... why not give us a hint about where they are.


Oh ye of always asking but never answering.... how many do you want ?
(do you really want to be pantsed again and again? Masochist or the other?)
Bugs





Joined: 16 Dec 2009
Posts: 5715
Reputation: 282.4
votes: 8

PostPosted: Wed Jun 13, 2018 7:22 pm    Post subject: Reply with quote

So you don't have any sites to offer???
Toronto Centre





Joined: 12 Feb 2011
Posts: 1095
Reputation: 116.3
votes: 4
Location: Toronto

PostPosted: Thu Jun 14, 2018 11:43 am    Post subject: Reply with quote

.... how many do you want ?
Bugs





Joined: 16 Dec 2009
Posts: 5715
Reputation: 282.4
votes: 8

PostPosted: Thu Jun 14, 2018 11:48 am    Post subject: Reply with quote

Just the best half dozen ...
Bugs





Joined: 16 Dec 2009
Posts: 5715
Reputation: 282.4
votes: 8

PostPosted: Thu Jun 14, 2018 12:56 pm    Post subject: Reply with quote

I'm not alone ...

https://www.youtube.com/watch?v=cXhVqwmoaY8

Trigger warning: Rebel Media organizing a petition to Andrew Scheer, less the leader of the national party than the dairy industry's lobbyist embedded in the Conservative Party ...
Toronto Centre





Joined: 12 Feb 2011
Posts: 1095
Reputation: 116.3
votes: 4
Location: Toronto

PostPosted: Thu Jun 14, 2018 2:09 pm    Post subject: Reply with quote

"An escalation of the trade conflict would damage international value chains and in the medium term threaten the international rules-based trading system," warned the German Council of Economic Experts - known as the "Wise Men" although one member is a woman.
https://www.thelocal.de/20180321/trump-trade-war-is-biggest-risk-to-world-economy-say-german-experts
--------
No country can benefit from trade wars, said Lu Xiankun from the International Trade, Development, Economic Governance and Advisory Services Center (IDEAS Center) in an interview with Xinhua on Friday.

"Plenty of study results and history have shown that no country will benefit from trade wars, be it the ones that started the war, that were forced to respond to it, or other countries that were not directly involved," Lu said.
---------

“It’s not at all clear that this does anything to enhance national security. We don’t drive Ford Escorts into battle,” says Phil Levy, an economic expert at the Chicago Council on Global Affairs and a former George W. Bush administration official.
http://foreignpolicy.com/2018/.....war-to-11/
------------
Part one.
Bugs





Joined: 16 Dec 2009
Posts: 5715
Reputation: 282.4
votes: 8

PostPosted: Thu Jun 14, 2018 6:56 pm    Post subject: Reply with quote

TC cites people who are involved in defending their trade advantages, and thus keeping their favourable balances of trade. I guess that aren't that many of 'them, after all.

Does anyone imagine that an $800 billion unfavourable balance of trade can go on forever?

In that case, there is some coherence in understanding that a trade war is already going on. Japan, for instance, has a lot of non-tafiff barriers to trade. If someone imports a North American car to Japan (so I have heard) they will have to spend thousands of dollars to put the road, due to extensive safety checks and the like.

Ditto with agricultural products. Food prices in Japan can be phenomenal by North American standards. But the US subsidizes its agriculture too, so what are you goingto do?

When you are haemorrhaging the national wealth at that rate, particularly for consumer products, it has to be dealt with. That's my opinion. What's the other choice?

TC cites these people, not because he disagrees with that -- or so I imagine, he isn't daft -- but because he doesn't like my pontificating. I'm sorry for that -- I am only looking for like-minded people to share evidence with. His problem (from my point of view) is that he takes a 180 degree opposition to me. The trouble is -- I am not 180 degrees wrong. I may be only 45 degrees wrong, which puts him going 315 degrees off course ... it's just a metaphor, but you see what I mean.
Toronto Centre





Joined: 12 Feb 2011
Posts: 1095
Reputation: 116.3
votes: 4
Location: Toronto

PostPosted: Fri Jun 15, 2018 11:40 am    Post subject: Reply with quote

Quote:
Does anyone imagine that an $800 billion unfavourable balance of trade can go on forever?


Does anyone imagine that a $4 TRILLION balance of trade can go on forever? How about $300 Trillion.


Naw... the orangutans numbers are made up, Kinda like the numbers he uses on Canada. LOL ! How people fall for this is truly funny

Donald Trump's Debate Mistake On Trade - $800 Billion Deficit Doesn't Exist, Not Problem If It Did
Donald Trump has been alarming economists right through this election cycle with his very basic and thorough misunderstanding of trade. He's getting his ideas from the economist Peter Navarro who equally alarms other economists with his misunderstanding of trade related matters. This insistence that a VAT is biased against imports, in favour of exports for example--it's just complete nonsense. But it's worse than this too. Trump keeps insisting that having a trade deficit is evidence that trade isn't working, that America is somehow being ripped off by those dastardly Johnny Foreigners. And that's simply not how these things work at all.
https://www.forbes.com/sites/timworstall/2016/10/10/donald-trumps-debate-mistake-on-trade-800-billion-deficit-doesnt-exist-not-problem-if-it-did/#18596e761991
Bugs





Joined: 16 Dec 2009
Posts: 5715
Reputation: 282.4
votes: 8

PostPosted: Fri Jun 15, 2018 12:38 pm    Post subject: Reply with quote

I suppose this means the jobs aren't disappearing? And I suppose that we can win a trade war with the USA too?

First, denial ... then rage ... I can't wait for the "He-can't-do-that-to-us" stuff to start.

Anyway, time will tell ... in the meantime ...

Quote:
Trump’s China Tariffs Met With Retaliation Vow From Beijing
By Andrew Mayeda and Jenny Leonard
June 15, 2018, 8:08 AM EDT Updated on June 15, 2018, 10:22 AM EDT
First set of tariffs to hit July 6, another round under review
Move will help U.S. achieve more balanced trade, Trump says

0:00
U.S. Slaps 25% Tariffs on $50 Billion of Chinese Goods
John Veroneau, partner at Covington & Burlington, says China will strike back against U.S. tariffs.
The Trump administration moved the U.S. to the edge of a trade war with China by announcing tariffs on $50 billion in Chinese imports and pledging additional investment restrictions, which Beijing immediately vowed to retaliate against.

The response from China signaled a rapid escalation of the dispute. China will impose tariffs with “equal scale, equal intensity” on imports from the U.S. and all of the country’s earlier trade commitments are now off the table, the Commerce Ministry said in a statement on its website late Friday.

President Donald Trump on Friday pledged more tariffs if China follows through on the retaliation threats, without specifying an amount. In April, he asked officials to consider an additional $100 billion in levies. Meanwhile, U.S. Trade Representative Robert Lighthizer said an announcement on U.S. investment restrictions on China will follow in the next two weeks.

“Our hope is that it doesn’t lead to a rash reaction from China,” Lighthizer said in an interview on Fox Business Network on Friday. “We hope that this leads to further negotiations and we hope it leads to China changing its policies, at least with respect to us, and opening up their market.

The first wave of tariffs will hit $34 billion in goods and take effect July 6, with another $16 billion still to be reviewed, the U.S. Trade Representative said in a separate statement.
https://www.bloomberg.com/news/articles/2018-06-15/trump-targets-50-billion-in-china-goods-vows-more-if-needed
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