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Trade wars: US remains oblivious to China's trade war attrition stamina - Global Times

2019-07-16 06:40    FXYEAH
  • Chinese press says that  the trade war is merely an extra variable among normal circumstances.
  • Even though the trade conflict has stretched for over one year, China's GDP growth has remained above 6 percent.

The Global Times has said that the US has yet to experience anything positive from the trade war, and Washington's self-proclaimed early victory is an attempt at lying to oneself and a nation.  

Key notes from the rebuttal fuelled article:

  • The pack of lies generated by the US is destined to be exposed.
  • Truth and facts will continue to bother politicians in Washington more than anyone else.
  • Data from the National Bureau of Statistics (NBS) revealed that China's economy grew 6.2 percent for Q2 2019, slightly dipping below the 6.4 recorded during Q1 expansion. The economy has remained stable during the first half of the year, standing at 6.3 percent. 
  • Data has revealed that China's trade with global markets is rising, with the US being the only exception. US restrictions on China imports did not stimulate domestic industrial manufacturing development since US businesses began importing goods from other countries.
  • The US has yet to experience anything positive from the trade war, and Washington's self-proclaimed early victory is an attempt at lying to oneself and a nation.  
  • The pack of lies generated by the US is destined to be exposed. Truth and facts will continue to bother politicians in Washington more than anyone else.
  • By exaggerating China's GDP growth slow-down, the US has sent a message, signaling that Washington is anxious about the ongoing trade war. They have paid close attention to each and every single change China has experienced, hoping to find long-awaited signs of crippling behavior. 
  • Driven by such anxieties while strategizing Trump's 2020 re-election campaign, the White House administration has repeatedly overblown China's trade war losses, fabricating evidence and "facts" to sway public opinion.
  •  The trade war is merely an extra variable among normal circumstances.
  • Even though the trade conflict has stretched for over one year, China's GDP growth has remained above 6 percent, a figure most major world economies crave. The country's economic performance has continued on within a reasonable range. 
  • Such facts demonstrate that China's economy will remain firm and resilient during attrition warfare.  

Meanwhile, markets are taking the trade war saga in their stride, with the U.S. benchmarks printing record closing highs once again on Monday. Looking further afield to the FX space, AUD/JPY, AUD/USD and CNH are also in recovery mode in the face of easy money policy from various central banks. 


 

Trade War

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