China US Trade War

Trump doesn’t want China’s steel, China doesn’t care

It's not much of a 'trade war'.

Donald Trump says he's going to tax steel and aluminium imports by 10 and 25 percent respectively (what's called a 'tariff'). People are saying it's the start of a 'trade war' with China... but China's not so fussed.

What it means: This term is being thrown around a lot. It sounds really dramatic but all it actually means is America and China are tussling over who's the biggest power in the international business world, where your 'weapons' are things like tariffs and subsidies (doesn't really have the same ring to it as 'tanks and AK-47s', but oh well...)

Trump's latest move is supposed to protect American steel and aluminium producers by pushing up the price of metals from elsewhere. But China's perfectly happy to just sell to the rest of the world.

And when George Bush did pretty much the same thing in 2002, the only ones who were hurt were America, where 200,000 jobs were lost because American companies weren't competitive anymore, and because other countries implemented 'revenge' taxes on American goods to get their own back.

Here's a word-for-word quote from the Financial Times: "In the EU firing line are likely to be politically-sensitive products like Kentucky Bourbon and cheese from Wisconsin." Bourbon and cheese being fired across the Atlantic? Sounds like our kind of war.

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Reader Comments

  • RW

    Your right to a degree. You mentioned “the wandering Jew”.

    I elaborate that the Jewish people, historically have tended to migrate almost exclusively to locations that are economically and culturally vibrant already. I would speculate that Jews have thrived in these places and have often improved the bounds of their economies and knowledge base.

    You can also ask; how many massive entertainment conglomerates, Nobel winners or billionaires has Isreal developed? If Jews are so capable, why isn’t Tel Aviv the Rome of our time?

    Jews are successful because they value education, maintain a strong social cohesive, they actively monitor and have a good sense for Zeitgeist wherever they are and they carefully choose the places they settle and congregate themselves heavily in these choice locations.

    But most importantly (haulocaust increased the importance of this aspect), they actually designed their culture for success. They not only attend Harvard, they use what they learned to better the group as a whole. With as much, they studied intricate networking systems, adapted to it and in many cases improved upon them. (See how Japan acquired Aegis warships and made them better).

    Of course there is nothing wrong with any of this. It’s when you elaborately gain disproportionate power in any society where you would stand out, you must take care when attempting to make a society better (Civil Rights movement) and rewriting that society all together (mass immigration). Ask blacks in China, Mexico, Philippines or India how much opportunity they have? Go to businesses owned by their American diaspora and see how many blacks they hire. Go to Silicon Valley and see how many East or South Asian tech workers wish they could work with more black people. California might work as a state, but as a nation, I think your rolling the nuclear dice here. I hope we can succeed as a tolerant pluralistic superpower but at this stage in human societal development, it’s a pipe dream.

    And if Jews really are the icon for success, they would see that fundamental human successes happen over generations. Just look at the rest of the planet? Are we ready?