Summary:
Over the past few months, there have been rising tensions between China and the US. Ever since Donald Trump took power as president, he has wanted to change unfair trading policies between the two countries. The main problem is that China sells way more goods to the US than it should, while also using unfair means to limit US imports. By the end of last year, China exported 324 billion dollars more worth of goods than the US sold to China. This is a big imbalance and throughout 2018 the US imposed billions of dollars worth of tariffs on Chinese imported goods with the intent that it will cause China to change their unfair policies. These tariffs are very bad for China’s economy and have lead people to stray away from luxury goods. This has resulted in lower demand for goods home and abroad and therefore lowered all imports into China. Overall, the concern is that China's economy will get worse, so hopefully, the government will be able to stimulate the economy again.
Reaction:
The trade war has caused not only China to suffer, but also the entire stock market as a whole.
It is very concerning that the 2nd biggest economy in the world is slowing down and many investors and people,
in general, are not happy with it. Personally, however, I think it is better in the long run that the trade war is
happening because there is a big imbalance that needs to be fixed along with unfair policies such as that
regarding the intellectual property laws. China does not follow the same intellectual property laws as the rest
of the world so basically, they allow themselves to disregard Copyrights, Trademarks, and Patents.
Then, they go ahead and copy other goods or services from America which is very unfair and needs to change.
It is very concerning that the 2nd biggest economy in the world is slowing down and many investors and people,
in general, are not happy with it. Personally, however, I think it is better in the long run that the trade war is
happening because there is a big imbalance that needs to be fixed along with unfair policies such as that
regarding the intellectual property laws. China does not follow the same intellectual property laws as the rest
of the world so basically, they allow themselves to disregard Copyrights, Trademarks, and Patents.
Then, they go ahead and copy other goods or services from America which is very unfair and needs to change.
Connection To World History:
This topic of trade relates to the unit of the Cold War because it relates to the relationship between the US
and China. During the time of the Cold War, there was a period of time where both countries did not even speak
to each other for 30 years. It was only when President Nixon visited China that they started to communicate.
Over the years, this relationship has improved and has developed to allow for billions of dollars of goods to be
traded between the two countries (as is reflected in this article). This topic also relates to the unit of the Silk Road.
The Silk Road was the first big network of trade routes for China, and this article reflects how trade has
developed to become worldwide and very important to the Chinese economy.
and China. During the time of the Cold War, there was a period of time where both countries did not even speak
to each other for 30 years. It was only when President Nixon visited China that they started to communicate.
Over the years, this relationship has improved and has developed to allow for billions of dollars of goods to be
traded between the two countries (as is reflected in this article). This topic also relates to the unit of the Silk Road.
The Silk Road was the first big network of trade routes for China, and this article reflects how trade has
developed to become worldwide and very important to the Chinese economy.
Questions to consider:
1. Do you think that Donald Trump is doing the right thing by imposing tariffs on Chinese goods?
2. If you were China, would you choose to endure these tough tariffs or appease Donald Trump's desires to create a more equal playing field for trade?
I do not think that Donald Trump should be imposing tariffs. The main issue is his boasting. One example of his boasting is this from his twitter.
ReplyDelete"I am a Tariff Man. When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so. It will always be the best way to max out our economic power. We are right now taking in $billions in Tariffs. MAKE AMERICA RICH AGAIN"
This boasting doesn't make the international community feel great about supporting America. I believe tariffs in moderation that are used as a diplomatic tool are very useful. They are important for maintaining economic strength. However, if they are used in couple with boasting it isn't good. In regards to the second question, I think China should choose to endure these tariffs. China should keep its advantage. Creating equality is not much of a benefit considering they could fight back and put pressure on the U.S.
I understand why you think Donald Trump's boasting is unbeneficial and I agree. You said that his boasting would make the international community not feel good about supporting America. Although thats true, it doesn't necessarily mean countries will stop supporting America as many countries are dependent on our goods. For example, China imports a lot of food from California and it will probably stay the same regardless because China has a lot of people to feed.
DeleteI understand why Donald Trump wants China to pay tariffs in order to balance the scale, however, I do not think Donald Trump is doing the right thing. By making China pay these tariffs, it is only hurting China's economy more and creating more tension between China and the US. If I were China, I would try and negotiate something with Trump to make the playing field for trade more fair without having to pay the tariffs. But if Trump and China can not agree, I would just pay the tariffs so arguments and tension can be contained.
ReplyDeleteI believe that China isn't importing as many goods, especially from the U.S. because of the tariffs that Trump has put into place. Even though Donald Trump may think that China has imposed unfair trading policies, I don't think its a good idea to kill fire with fire. By that, I mean that it's not a good idea to create unfair trading policies to combat the unfair trading policies. A mindset like this will lessen the positive relations between the two countries. The U.S. and China should instead resolve these issues with a compromise. Some possible compromises can be in the form of contracts that force both countries to import and export similar amounts of goods without any imposed tariffs. This would ultimately preserve the relations between the U.S. and China and allow both countries to focus on other issues. Tariffs aren't going to resolve any issues but instead, create them.
ReplyDeleteI think imposing tariffs on China is not the correct decision. China has the 2nd biggest economy right now, and disrupting trade regularities between two large and impactful countries can and will have extreme consequences. These consequences will not only affect China, but the US and other countries as well. Donald Trump thinks it's worth risking the consequences to demonstrate power and force, but this will cause more problems and won't fix any unfair trading policies. And it is also true the tensions between China and the US have risen for many different reasons, including the election of Trump, but imposing tariffs and creating harsh trading policies will result in harsh consequences and augment problems rather than solving them. - Nina Wade
ReplyDeleteI do not think that the tariffs and trade war with China does much help to the situation in regards to the current unfair trading policies. These tariffs have simply started a domino effect where both countries are now disputing tariffs placed on goods that they trade with each other rather than solving the unfair policies. This trade war is going on to “batter the financial markets” and is destabilizing the global market. For instance, Dow Jones has been taking a hit due to the disputes going on between US and China. Therefore, I believe that imposing tariffs on China is not a constructive idea, as it only raises more tensions regarding trade between US and China.
ReplyDeleteIn my opinion, I believe that Trump should not impose tariffs on China. This is because it is doing more harm than good. By imposing these tariffs, Trump is creating tension with China, along with leading them in an economic downfall. Also, it's clear that these tariffs aren't working, so there is no point in having them at all. In WW2, appeasement was proven to be a bad idea, so Trump should consider the fact that China will most likely keep from doing this, and will continue to import as many goods as they are currently. Instead, both China and the US should come together, and work out a plan that will keep both sides satisfied.
ReplyDeleteIn my opinion, I think that it is wrong that trump is imposing these tariffs on China. The fact that China is one of the world's largest exporting countries, having these tariffs would hurt multiple countries economies. Ever since these tariffs have been in place, China has come to a solution and decided to export more rather than import, shown in a BBC article, "Analysts had been expecting a 5% rise in China's imports from the rest of the world. Instead, they got a 7.6% fall." What I mean by this is that China has been making cuts in goods and luxuries to counter the tariffs. So at the same time, these tariffs are also hurting China itself. Overall, Donald Trump should remove these tariffs to benefit everyone, and to resolve any conflicts.
ReplyDeleteI believe that Trump should not impose tariffs on China. China is an extremely big country in terms of trade and trying to have a trade war. Imposing tariffs only creates more tension and hostility between the two countries. Eventually, this could escalate to a different level that could potentially be a second Cold War. I think that Trump should remove the tariffs instead of causing tension between the two countries.
ReplyDeleteTrump isn't doing the right thing by imposing tariffs on Chinese imported goods. This is because this will negatively impact American consumers. For example, companies such as PepsiCo and Coca-cola have to raise prices on their beverages (Business Insider, https://www.businessinsider.com/trump-tariffs-make-coca-cola-gm-more-expensive-2018-8#pepsi-2). These companies get their aluminum needed to produce cans from China. With Trump's tariffs, these companies need to pay more for their aluminum supply and make up for this cost by raising the prices of their beverages. Overall, Trump's tariffs can be interpreted as a tax for American consumers.
ReplyDeleteTrump imposing tariffs on China will have disastrous side effects. First of all, the Chinese government hasn't been known for its amazing treatment of foreign governments (seen through its treatment of the Uygur people.) Be that as it may, China and the USA have a huge reliance on each other for trading, so it is most likely that drastic steps will not be taken by China. This is not to say that measures will not be taken if our government keeps pushing China's buttons.
ReplyDeletethat's Rumi btw
DeleteI believe that Trump made a poor decision by imposing tariffs on China. They will only create increased tensions between China and the United States, and if the tariffs continue to escalate, quality of life for both citizens in the United States and citizens in China will experience decreased quality of life as product prices increase. Furthermore, one of Trump's intended reasons for imposing the tariffs, lowering the unemployment rate in the U.S., backfired. As detailed by a BBC article, Jaguar is already cutting jobs in the United States, and they claim it is due to part cost increases created by the tariffs. If I were China, I would endure these harsh tariffs until 2020 to see if a new president who is willing to remove the tariffs for easier cooperation takes office. If not, I would try to negotiate with Trump in a way that allows China to still benefit from US - China trade and at the same time, remove tariffs.
ReplyDeleteI believe that Donald Trump is not doing the right thing by imposing more tariffs on China, since it is only hurting and is not really helping anything. If Trump just keeps imposing tariffs, China can easily respond with also imposing tariffs on the US, and they would not really solve anything. This is how they responded to his tariffs (https://www.bbc.com/news/business-46818938) and if this continues in this way, it could never end. This is causing both countries economies, as well as the overall world economy, to become worse, and is not solving the problem Trump wanted to fix. The tariffs are, as said in the post, causing China's economy to need to be stimulated a lot more by the government, as well as causing many companies to suffer a lot. Since they have done nothing, I think that the tariffs were a bad idea, and it is better to just negotiate with China to fix the trade imbalance. China and the US should compromise to end this trade war, since it is already seriously harming the economy, and could continue to harm it more.
ReplyDeleteI do not think that Donald Trump is helping the US by imposing tariffs on China. This is simply another one of Trump's weak displays of power and need to feel superior to other countries. There is no positive outcome of issuing these tariffs because it will only create tension between the US and China. China's economy is dropping because of these tariffs, which could create them to be angry at the US. Trump is trying to protect his ego, but in the process has created new issues that could potentially threaten the country. China is an extremely powerful country economically, so we should be avoiding conflict with them!
ReplyDelete-Grace Callan
DeleteI agree with the author that China’s economy needs to be reformed to follow the laws of buying and trade that are put in place. Without laws, we have no order, so if a country blatantly disregards the laws, that may make other countries believe the same, making everything lapse into chaos. That being said, I don’t think we’re are going about this the right way. Usually when laws or ideas that are set in place change rapidly, they cause detrimental impact to other parts of society. China is so hugely involved in the world’s economy, that them changing one little thing (like cracking down on copyright issues) could massively (and potentially negatively) impact the rest of the world. In addition to this, Donald Trump’s tariffs are causing excess tension between the United States and China, which will potentially prevent China from cooperating and make them want to compromise with America even less. I think Donald Trump’s tariffs are creating more of a problem, rather than creating a solution.
ReplyDelete