US critics link another broken Trump trade promise to Trump administration corruption. Possibly inaccurately
For the second time in a week, US critics have accused the Trump administration of corrupt motives for dishonouring pre-election trade promises.
Shujiro Urata, a fellow of the Japan Centre for Economic Research and a former economist at the World Bank, said on February 28 that China has been unable to “contribute constructively” to the past five years’ Regional Comprehensive Economic Partnership (RCEP) talks and would be unable to accept some key TPP chapters.
It’s almost impossible to summarise the dispute between China and most other major trading nations at the WTO.
Asia Society suggests priorities for Trump adminstration’s attitudes to China – and they don’t include currency.
In a report issued on February 7, the New York-based Asia Society endorses Trump’s overall priorities on China, but claims currency manipulation is a relatively minor issue.
Though the world’s business press reported in mid-January that Chinese manufacturing costs grew sharply in December 2016, costs for Chinese apparel and textile makers grew far less. In November 2016 – the latest data available – the price per square metre of Chinese apparel arriving in the US was 9.1% lower than a year earlier.
After years of misconceived forecasts it will soon collapse, China’s domination of global apparel exports faces a serious threat – from the Chinese government.
The British Brexit debate, and the aftermath of Trump’s election, are bringing out widely contrasting views of China as a business partner. Some are hopelessly naive.
Theresa May keeps insisting “Brexit means Brexit”. But no-one in Britain can agree what Brexit means, how long it’ll take to get there or what Britain’s trade policy will be once it’s out of the EU.