OMG!!!! I hope this is fake news. If this is true, the west is doomed. What's the point of exporting more to China when China can just steal the most lucrative cutting-edge technology? LOL It's the proprietary technology that makes the biggest bucks, not some soybeans that everybody can grow in their backyard.
They should also get China to float its currency more. It's ridiculous that China is the second largest economy in the world and yet USD to RMB is 6:1, 6 to 1!! That's the quickest way to get rid of its trade deficit if the trade deficit is what Trump is worried about.
there you go... simply starting the negotiation is a win because with such a huge ask there is guaranteed to have some kind of return... not only China... with NA and Europe and Pacific Rim there have already been progress... china was simply the last one to conquer (somewhat). Obama did nothing... he renamed some mountain range in Alaska.... other than that, obamacare and green regulations were all head winds to the economy. to be honest... the recovery from 2009 is mostly due to the easy money, that's perhaps 75% of the driver. the left keeps saying the Trumps economy is on Obama's trajectory... that is complete bs. economy recovered DESPITE obama.. and the recovery accelerated THANKS TO Trump... that is da truth.
not sure what you are implying... the JPY is what, 100:1? the absolute value doesn't matter because it's dependent on the circulation. actually on this currency issue specifically, I think Trump is using it as a bargaining chip lol.. China at the moment is actually on Trump's side trying to keep the exchange rate lower, i.e. closer to 6 than 7, lol... and they have already used a big chunk of the forex reserve to do it... if free exchange is allowed, the RMB will collapse and the trade deficit will explode lol.. at the moment just the 4 major cities BSGS already have real estate total value more than the entire USA... imagine if everyone wants to get out with local currency and get into USD and move the money out of the country. tight, tight control over there right now, very difficult to move any USD out side already... the country is already short of USD.
Kyle Bass Exits Yuan Short Bet Just as Trade War Really Heats Up (Bloomberg) Longtime China-bear Kyle Bass has closed his nearly four-year wager against the offshore yuan just as the trade war between the U.S. and China is intensifying. “I don’t have a vested interest in China’s currency anymore,” the Dallas-based founder of hedge fund Hayman Capital Management said in a Bloomberg Television interview Tuesday. “I think this is such an important moment in time for U.S. national security that all the work that I’ve done over the last seven years is moving more into the political sphere than the financial sphere.”
Hedge Fund Manager Kyle Bass Says the US has More Leverage Over China than Ever Before (CNBC) Hedge fund manager Kyle Bass believes the United States now has more leverage over China in trade negotiations than ever before and encouraged President Donald Trump to follow his hard-line tactics to force concessions from Beijing. In an interview with CNBC’s David Faber, Bass said that the strength of U.S. business affords Trump the ability to press China’s Xi Jinping for a better deal during their planned meeting at the G-20 summit in Japan next week.
Kyle Bass Says Wall Street Investors Should Ignore G-20 and Brace for a Fresh Round of Trump Tariffs (Market Watch) Investors are laser-focused on this weekend’s G-20 meeting in Japan, but famed hedge-fund manager Kyle Bass predicted that nothing of importance will be achieved there, and that investors should prepare for President Donald Trump to slap tariffs on every last dollar of Chinese imports. President Donald Trump and Chinese President Xi Jinping are expected to meet on the sidelines of the G-20 gathering, set to kick off Friday in Osaka, and investors are increasingly hopeful that it will result in an easing of U.S.-China trade tensions and the resumption of negotiations to roll back existing import duties.
Hedge Fund Manager Kyle Bass Says a US-China Trade Deal Can’t be Reached (CNBC) Hedge fund manager Kyle Bass is doubtful a trade deal between the U.S. and China could be reached and believes the Federal Reserve’s rate cuts are less effective these days. “Every deal that the Chinese have signed up with us since their inception into the WTO since 2001, China never lives up to their promises,” the founder and chief investment officer of Hayman Capital Management said on CNBC’s Closing Bell on Thursday.