In this file:

 

·         Peter Morici: China is a renegade state

... China says it won’t change its laws as a matter of sovereignty and honor. Nonsense — we are engaged in these negotiations because it did not keep its word to change its laws and abide by commitments it made when it signed on to the WTO in 2001... In President Xi’s mind, China is riding the great arch of history to a place where it makes the rules, and supplicants like the Europeans, Americans and Asian neighbors adhere to its vision. China — the all omniscient, omnipresent and omnipotent state — dominates, and the leader of the Chinese Communist Party sits atop a throne of empire. China doesn’t play by the rules of other civilized nations — on trade, the sanctity of international waters or its obligation to restrain rogue states like North Korea. It’s time to label it for what it is — a renegade state...

 

·         U.S. ‘disappointed’ over China’s fingerpointing on trade rift

“It is important to note that the impetus for the discussions was China’s long history of unfair trade practices,” the Treasury Department and the U.S. Trade Representative said in a joint statement. “Our negotiating positions have been consistent throughout these talks, and China back-pedaled on important elements of what the parties had agreed to.”

 

 

 

Peter Morici: China is a renegade state

 

By Peter Morici For the Deseret News

June 4, 2019

 

Morici is an economist and business professor at the University of Maryland

 

President Trump enjoys bipartisan support for his tough stand on China but Democrats and farm state Republicans indicate they could desert him if he fails to bring home an agreement that ends China’s piracy of American technology and finally opens its markets to U.S. products.

 

That’s foolish. Americans should be prepared for Mr. Trump’s tariffs to become permanent and to disengage from China, find new markets for agricultural commodities and learn to make or purchase elsewhere those things we import from China.

 

At the center of the impasse is Beijing’s refusal to change its laws to lock in commitments to end forced technology transfers by foreign companies seeking access to Chinese markets, outright theft of American patents and trade secrets, subsidies for exports and industrial policies that target U.S. competitive advantages.

 

Commerce among members of the World Trade Organization is premised on the notion that trade should be based on comparative advantage to raise incomes and wages among all nations. It requires all nations — including China — to conform their domestic laws to lock in commitments to serve that principle.

 

China says it won’t change its laws as a matter of sovereignty and honor. Nonsense — we are engaged in these negotiations because it did not keep its word to change its laws and abide by commitments it made when it signed on to the WTO in 2001.

 

Equally disingenuous is the Chinese offer to lock in commitments via regulatory changes — directives issued by its central government. Beijing bears the burden of its history on that score — for example, its broken commitments to rein in subsidies for high tech-firms.

 

In President Xi’s mind, China is riding the great arch of history to a place where it makes the rules, and supplicants like the Europeans, Americans and Asian neighbors adhere to its vision. China — the all omniscient, omnipresent and omnipotent state — dominates, and the leader of the Chinese Communist Party sits atop a throne of empire.

 

China doesn’t play by the rules of other civilized nations — on trade, the sanctity of international waters or its obligation to restrain rogue states like North Korea. It’s time to label it for what it is — a renegade state.

 

China doesn’t send terrorists to explode our buildings but instead dispatches a host of reavers to steal our technology, jobs and prosperity and sap our strength to one day dictate the terms of our surrender.

 

Honorable people understand if they lie, intelligent folks will stop taking them at their word but in President Xi’s kleptocracy, America is led by fools — he absolutely underestimates U.S. chief negotiator Robert Lighthizer.

 

President Trump faces a lot of pressure to come up with a deal — Democrats will hammer him in the 2020 election and appeal to farmers hit by retaliation and low income workers bearing higher prices at Walmart for backpacks, baseball mitts and beer.

 

Tall tales abound — Moody’s Analytics sees the threat of another recession — but Wells Fargo estimates the most that the additional tariffs levied this month on $200 billion in imports from China could raise the consumer price index is 0.15 percent. However, that is if the Chinese yuan does not fall substantially, as it did with previous tariffs, Chinese producers do not absorb a portion of the tariffs, as many did with previous levies, and new producers do not emerge elsewhere in Asia, as they are eager to do if U.S. businesses believe the tariffs are more or less permanent.

 

The bottom line is...

 

more, including links

https://www.deseretnews.com/article/900073649/peter-morici-china-is-a-renegade-state.html

 

 

U.S. ‘disappointed’ over China’s fingerpointing on trade rift

 

By: John Harney and Saleha Mohsin, American Journal of Transportation

Jun 03 2019

 

The Trump administration on Monday expressed disappointment that China blames the U.S. for the failure of trade talks between the two countries.

 

“It is important to note that the impetus for the discussions was China’s long history of unfair trade practices,” the Treasury Department and the U.S. Trade Representative said in a joint statement. “Our negotiating positions have been consistent throughout these talks, and China back-pedaled on important elements of what the parties had agreed to.”

 

The U.S. is “disappointed” that the Chinese have used the ‘White Paper’ and recent public statements to “pursue a blame game misrepresenting the nature and history of trade negotiations between the two countries,” the joint statement continued.

 

The statement released by the Beijing government over the weekend with considerable fanfare asserted that President Donald Trump’s decision to raise tariffs on $200 billion of Chinese goods on May 10 was a breach of an agreement reached by Trump and President Xi Jinping.

 

“These acts contradicted the agreement reached by the two presidents to ease friction through consultation—and the expectations of people around the world—casting a shadow over the bilateral economic and trade consultations and world economic growth,” the authors of the paper said. “The U.S. has backtracked on its commitments in the China U.S. economic and trade consultations, not the other way around.”

 

The U.S. response said their insistence on “enforceability” stemmed from “China’s history of making commitments that it fails to keep.”

 

“President Trump is committed to taking action to address the unfair trade practices that China has engaged in for decades, which have contributed to persistent and unsustainable trade deficits, almost $420 billion last year, and have caused severe harm to American workers, farmers, ranchers, and businesses.”

 

Treasury Secretary Steven Mnuchin will attend the Group of 20 finance ministers’ summit in Fukuoka, Japan, that begins Friday. Chinese officials are scheduled to attend the gathering.

 

If he meets with the Chinese...

 

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https://www.ajot.com/news/u.s-adisappointeda-over-chinaas-fingerpointing-on-trade-rift