China Slaps Tariffs on U.S. Products
China has effectively been waging a trade war with the US for the past 20 years. This is a narrative that has not been emphasized enough. America just hasn’t responded—which I find baffling. Investment into China is difficult, you need to have JVs and IP hand overs, local companies have political advantage over foreign companies, entire industries are off limits. China is going to be the world’s largest economy soon. It’s time to take off the kids gloves and live up to their WTO promises. The biggest beneficiaries of this are the large multi nationals, not the American workers. The argument goes that the benefit is to the consumer, but if the latest 65” TV cost 50% more then everyone would spend their $1,500 for a 45” TV instead and be just as happy—maybe happier because they’d have good paying jobs. If you think a trade war is bad, imagine being a vassal state of China where the US has no industries left and their political&#x2F;economic clout is so strong that we live under their rules. And discussions like this would not happen. The fact that I thought about deleting this post is actually chilling.