Chinese entrepreneur Wang Sen woke up on Monday to a strange development — overnight, he had joined the tiny group of people in China who are having a good trade war. But these rare winners are no fans of the economic turbulence.
The American president looms over this year’s Canton Fair, and its 30,000 exhibitors. But the view from the ‘factory of the world’? China’s manufacturers will prevail.
Beijing says it will diversify from America unless Donald Trump ‘corrects’ his ‘erroneous’ tariffs even as exporters look at siphoning goods through other countries to avoid whopping levies.
China has hiked tariffs on America to 125 per cent but declared it would not lift them further, ending Beijing’s tit-for-tat response with Washington even as the world’s two biggest economies look for fresh ways to harm each other.
China’s leader has a historical obsession so chilling that, as with the US President’s most shocking statements, many hope it is not meant to be taken literally.
Beijing has slashed the number of Hollywood films it will allow to screen and Washington hiked tariffs on parcels carrying goods from Chinese retailers, as Xi and Trump continue their bruising trade war.
Anthony Albanese and Peter Dutton are promising big business they will rebuff any push for nations to take a tougher economic approach to Beijing.
Beijing is preparing a stimulus package and further retaliation after Donald Trump’s new 125 per cent tariff on Chinese imports went into effect, as Xi Jinping shows no sign of accepting the American president’s offer to ‘do a deal’.
Xi Jinping and his council of yes-men have made a series of epic blunders over the past six days – and they look poised to make China’s disaster even worse.
Donald Trump has reduced levies for US trading partners to a ‘baseline’ rate of 10 per cent, but slapped even higher levies on China.
Original URL: https://www.theaustralian.com.au/author/will-glasgow