1140: Trump trade deal with the PRC falls short. @AlanTonelson, @USBIC1, @GordonGChang
Image: Guangzhou's harbor in 1850 Alan Tonelson, @AlanTonelson, @USBIC1, U.S. Business and Industry Council Educational Foundation; independent economic policy analyst who blogs at RealityChek and tweets at @AlanTonelson, and Gordon Chang, @GordonGChang, Daily Beast, in re: Trump Trade Deal with the PRC falls short. . . . China is not a market-driven economy: could easily have decided to make the agreed purchases. They knew the virus was coming. By Jan 15, . . . Let’s acknowledge that China simply does not honor its trade agreement. Right now, high tariffs on $360 bil of Chinese goods entering the US. Biden has powerful tools at its disposal if it chooses to see them. Does contract law exist in China? It exists, but there’s no enforcement; pols look at the matters in advance and instruct the court what to do. The CCP has confidence in law: they use it against you. In good faith? No. No such thing as rule of law in Chinese politics or court or business. The imperative is to create leverage and force them to accede or suffer. Why does Biden have to spend so much time reviewing Trump policies? Suggests that they don’t know what do to. Pursuing any deal with China is a loser. Climate, trade, healthcare: Biden really wants deals with China. https://www.cnbc.com/2021/01/22/china-failed-to-buy-agreed-amounts-of-us-goods-in-phase-one-trade-deal-data.html https://www.cnbc.com/2021/01/22/china-failed-to-buy-agreed-amounts-of-us-goods-in-phase-one-trade-deal-data.html