China has won a "victory" over the US in their bitter trade conflict, with the World Trade Organisation ruling that the Trump administration violated international regulations with last year's tariff war on China. At a practical level, though, it changes nothing.
The WTO is in the final phase of choosing a new director-general charged with designing and implementing those reforms, a critical moment for the future of multilateralism in trade and for the organisation that has helped increase market access, protect intellectual property, reduce protection and provide a framework of rules for international trade since it was formed in 1995.
It's partly a product of the dollar's reserve currency status but also of a dearth of US savings. The deficits enable Americans to live beyond their means. Smaller deficits would necessarily mean lower standards of living.The US trade deficit today is higher than it was when he took office. The July deficit was the highest in 12 years. China's share of global trade has increased, not decreased.
The more sophisticated trade hawks in the administration saw the trade war as a way to punish China for what they regard as unfair trade practices and the forced transfer and even outright theft of US technology. It was also seen as a way of undermining China's economic and geopolitical ambitions and its ability to challenge US supremacy.
The trade conflict with China isn't, of course, a simple trade war. The motivations have evolved from Trump's fixation with trade deficits into a far broader and more complex assault on China's aspirations and a defence of US hegemony. It's more Cold War than trade war.
Trump is a malignant narcissist+conman—“truth” is a variable for whatever suits him at the moment; his lying is effortless, shameless, congenital; a clueless oaf, he has no knowledge of yesterday nor any concept of tomorrow—frightening! …
see the arroagance of west . When it comes itself , it silences being accused of violating international rule , but boasting that what you gonna do even though i break it . ha.
JBrown3802 CondoleezzaRice BBC BBCNews BBCWorld NBCNews ABC wwd POTUS realDonaldTrump We must ask the US state Department to keep the Visegrad group countries (Poland, Czech Republic, Slovakia, Hungary) from sticking their noses in Belarusian Asses!!!
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