What Happens During A Trade War..

Bankruptcy four times, over a dozen failed business enterprises, failure to pay hundreds of contracts, sued thousands of times, no bank will touch him..... He's a deadbeat, no doubt about it.

 

OK you think....

you not been to Trump Towers NY recently? I have

 

Not what I "think", these are the facts, something trump supporters have difficulty with. They have their own mythical versions. The guy is a con artist.
10 Donald Trump Business Failures

not really relevant where you or I have been (but yes I've been to NY a few times, worked nearby)

 

Jesus, if you're gonna defend someone from accusations of exaggerating his wealth it may be worth you not doing the same thing.

Tax paid in 2005 was 38m, so about a quarter of what you wrote. Not insignificant of course and neither was the 150 odd mill of income earnt that year

 

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....The voters did not see this as relevant....

 

You think?

Trump is focused on Mid term elections in November. While others are stuck chasing their tail

Anyone watch the Tampa Rally? I did, his gonna bring the bacon home again.... just watch

 

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Tampa rally was disgusting and rather unsettling. Do these people actually think before opening their mouths and yelling and chanting? There is such hatred.

If only we could get rid of these deplorables, someone mentioned a camp

Lets talk hatred...

Hatred like the Rep baseball game getting shot up and Steve Scalese almost dying?(a Bernie voter was the shooter

Antifa- smashing buildings, assaulting Trump supporters?

Kathy Griffin and the famous severed head pic?

Snoop Dog shooting a Trump lookalike in the head in a video?

Live play in Central Park depicting a Trump lookalike being stabbed to death by a mob?

Madonna dreams of blowing up the W.H?

DeNiro wants to punch Trump in the face, and yells out "F#ck Yrump on stage at an Industry Awards night?

Peter Fonda want to see Barron Trump kidnapped and put in a cage with paedophiles?

A Democrat voter wanted to stab Alan Dershowitz through the heart? (He is a famous Libertarian Lawyer who has shown support for Trump)

"The Red Hen" restaurant kicked Sarah Sanders out of their restaurant for working for Trump, and then pursued her family as they headed across the road to another restaurant?

Kirstjen Neilsen was harassed while eating dinner in a restaurant?

Scott Pruitt - same thing?

Pam Bondi (Florida A.G and a Trump supporter) harassed and spat on while entering a cinema, then harassed again when leaving the movie?

Elain Chao (Mitch Mconnels wife) harassed as she walked to her car?

Rand Paul attacked by his neighbour (Democrat voter)?

Maxine Waters called for a Democrat voted to "get a crowd, get in the Trump Cabinet Members' faces, harass them at gas stations, restaurants, bars, supermarkets" - not allow them to live a normal life, anywhere or anytime?

Latino dude ripped a MAGA cap off a teenager's head in a Diner, then threw a cup of soda in his face, stole the hat, and said he was gunna burn it in his fireplace?

Teenager thrown out of classroom for wearing a Trump shirt?

Teenager bullied at school for wearing a MAGA hat?

What fine folk...

 

Quote..

What separates the winners from the losers is how a person reacts to each new twist of fate.” – Donald Trump

 

Just an update on some effects of the trade war.
On chinese side, there is some slowdown in the PMI numbers

Manufacturing PMI numbers are slightly down but still in expansion (do note these weaker numbers are on the back of monetary easing as well as last minute mass orders made of products likely to be under new tariffs in the coming months)

China manufacturing PMI falls short of expectations for July

A private survey of Chinese manufacturing hits an 8-month low amid trade spat

China July services new business growth weakest since December 2015: Caixin PMI

US economy seems to be doing ok so far as well with Trump looking to impose an increased tariff of 25% now on 200billion of chinese goods VS. China only having 60billion left of US goods to tariff.

Chinese exports to USA are worth 505,470 vs 129,893billion(total for 2017).
Foreign Trade - U.S. Trade with China
It is quite clear which country will have a more immediate short term shock to their economy as their exports collapse.

On top of that, US just has to subsidize some of their more important sectors like agriculture as they would have lost 130b of exports to China vs. China which will have to support much more of their sectors which would eventually lose that 500billion worth of exporting. It is unlikely that any other major economy will be able to absorb such a large amount of exports.

Trade is just like any business and most of the time countries don't play fair, thats how they make big profits. IMHO Trump has identified and is probably doing the right thing by trying to force China to play a little fairer.

Despite all the fanfare on these tariffs, the Europeans are actually the original tariff masters. They have already been putting big tariffs on many goods imported into Europe and had already been taxing Chinese steel and other exports way before Trump even talked about tariffs.

 

Yes, be interested to see over the next 6-12 months impact.

If it all goes to pot, then I guess Trump backs down, somehow I don't see this happening though??

 

Interesting read - how this may impact on Australia
Knowledge Source
(Extract below)

US declares war on China. For reals?

I’m not sure the US is mucking around with their war on China


But the question is, what kind of war?

Is it a trade war, where the US is simply trying to rebalance the global flow of trade (a little more in its favour)?

Or is it an economic war, where the US aims to give the Chinese economy a good thump on the head?

So far, the official story is that it’s a trade war, and the US is just protesting China’s unfair trade advantages.

But more and more it looks like an economic war, designed to squash the ambitions of a rival super-power.

... read more

 

... and why not? He is now heading up the biggest financial organisation in the world and somehow his recorded and severe past financial incompetence is not relevant?

My mind just boggled

 

What is this "fairer" thing and how do you identify it?

I see that the consumers of the US like the goods that China can provide at a cheaper price - and hence buy more of them than the Chinese buy of American goods.

What's unfair about that? Simply supplying and demanding.

You cannot claim that it's about the Chinese government subsidising their workforce that is unfair - as that's something the US has been doing for hundreds of years - and the Europeans ... Australia is one of the few countries that don't have subsidies, not that the car manufacturing fiasco is out of the way

 

He won't back down - he'll just blame someone else

 

This could also work well for Australian listed companies that sell LNG ..From what I read shipments from offshore gas projects within Australia to China Japan will play a big part ..But Trump would know full well the outcome and could definitely backfire on Trump where Australia LNG export would soar..imho..

Darwin LNG

 

Yeah your right, probably blame the Russians