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Bloomberg (June 15)

2018/ 06/ 17 by jd in Global News

“The trouble is, every time China’s leadership finds itself with the appetite for the long-awaited rebalancing away from investment and toward consumption, it finds itself staring into a terrifying abyss of slowing growth…. Beijing has been trying to take its foot off the accelerator of state fixed-asset investment almost since it tapped it two years ago, but private investment clearly hasn’t been sufficient to fill the gap.” Now a trade war is likely to “trample” the long-awaited rebalancing.

 

New York Times (June 10)

2018/ 06/ 12 by jd in Global News

“There has never been a disaster like the G7 meeting that just took place. It could herald the beginning of a trade war, maybe even the collapse of the Western alliance. At the very least it will damage America’s reputation as a reliable ally for decades to come; even if Trump eventually departs the scene in disgrace, the fact that someone like him could come to power in the first place will always be in the back of everyone’s mind.”

 

Washington Post (June 8)

2018/ 06/ 10 by jd in Global News

“Trump is waging a trade war in the dumbest way possible.” In the best of times, “trade wars are neither good nor easy to win…. Every side loses, experiencing lost jobs, crippled businesses and higher prices for consumers.” Trumps tariffs are now estimated to result in 16 lost U.S. jobs for every job gained in the aluminum/steel industry: a painful, self-inflicted wound. Moreover, the counterpunches of our trading partners “are likely to draw more blood.” With the “already announced $40 billion worth of retaliatory tariffs on U.S.-made products,” Canada, the EU, Mexico, Russia, India, Japan and Turkey have “fine-tuned the art of minimizing their own pain — and maximizing ours.”

 

Wall Street Journal (June 4)

2018/ 06/ 05 by jd in Global News

Despite the “unanimous concern and disappointment” expressed in a statement by G7 members Canada, France, Germany, Italy, Japan and the UK, ”the Trump administration showed no sign of backing down from restrictive tariffs” or provided any indication “that the administration was wary of inching closer to a trade war.”

 

Washington Post (May 30)

2018/ 06/ 01 by jd in Global News

“Sudden policy shifts are amplifying an air of unpredictability that the president has said gives him an edge at the bargaining table, even as U.S. trading partners complain that it erodes American credibility. Adding to the confusion are divisions among Trump’s trade advisers and complaints from members of Congress, who fear that the president may be stumbling into a costly multi-front trade war.”

 

The Guardian (April 5)

2018/ 04/ 07 by jd in Global News

“The tit-for-tat exchange of tariffs between the United States and China gives the impression the world’s two biggest economies are headed down the road towards a trade war, which would have hugely damaging economic consequences. But this could be averted if they continue quiet backroom discussions to open up their markets, particularly China’s.”

 

Wall Street Journal (April 3)

2018/ 04/ 04 by jd in Global News

“Donald Trump hasn’t been talking about the rising stock market lately, and no wonder. Stocks have given up their earlier gains since the President unveiled his protectionist trade agenda” amid concern over “uncertainty from rising trade tension.” So far, China’s response “is measured, affecting $3 billion in annual trade or about 2% of U.S. goods exports to China, but it sends a pointed message that a larger trade war would hurt American businesses, farmers in particular.” If China subsequently moves to target “America’s biggest exports to China, such as soybeans and Boeing aircraft,” the pain will be much greater.

 

Bloomberg (March 26)

2018/ 03/ 27 by jd in Global News

“Tokyo bulls can’t buy a break. Just as the economy shows signs of life, they’re ensnared in a global equity meltdown that on Friday alone lopped $200 billion from the price of shares.” The threat of a trade war, a sell off by foreign investors and the surging yen are “all starting to dent sentiment for Japan, where bears had previously been hard to find.”

 

Reuters (March 16)

2018/ 03/ 18 by jd in Global News

“Simmering fears of a global trade war. An embarrassing political scandal in Japan. Rapid job-turnover inside the White House and the threat of faster interest rate hikes in the United States….” Yet somehow “markets have brushed aside risks and recurring bad news on geopolitics to stay focused on positive macro-economic cues.”

 

The Economist (March 9)

2017/ 03/ 12 by jd in Global News

“The spread of exotic grains is evidence that globalisation works.” You may mock quinoa and other hip foods, but they are welcome sign “of rising prosperity and expanding choice. The spread of better farming techniques has raised yields, helping humanity feed itself despite a rising population.” In contrast, “plans to erect trade barriers and possibly start a trade war” deserve derision. They “would make the world poorer and hungrier.”

 

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