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Wed May 22, 2019, 01:20 PM

China Faces New 'Long March' as Trade War Intensifies, Xi Jinping Says

Source: businessinsider

Chinese President Xi Jinping on Wednesday called on the country to "make a new start" and signaled that the trade war with the US is far from over.

During a speech in China's southeast Jiangxi province, Xi told cheering crowds that the nation was embarking on a "new Long March" and encouraged the country to remain resilient in the face of hardship.

"Now there is a new Long March, and we should make a new start," Xi said Monday during his first national tour since the US-China trade war intensified this month with a series of tit-for-tat tariffs on billions of dollars worth of imports.

Xi's remarks had cultural significance for residents of Jiangxi, historically known as the starting point for the 6,000 mile trek referred to as the Long March of 1934, which eventually led to the ousting of the Nationalist forces by the Communist Party and the emergence of Mao Zedong as China's leader.

The Chinese president's recent actions have been interpreted attacks on US President Donald Trump as the trade war between the two nations rages on. On Monday, Xi was photographed at a rare earth magnet factory in eastern China, a highly publicized stunt that suggests China may be planning to weaponize its rare earth materials, which are used in a wide range of hi-tech US products such as smartphones and electric cars.

Read more: https://www.businessinsider.com/xi-jinping-china-is-ready-long-march-us-trade-war-2019-5



This is basically China calling for a no holds barred trade war with the US. NYT had the latest on this but subscription was needed

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Reply China Faces New 'Long March' as Trade War Intensifies, Xi Jinping Says (Original post)
yaesu May 2019 OP
at140 May 2019 #1
yaesu May 2019 #2
at140 May 2019 #3
Eugene May 2019 #4
cstanleytech May 2019 #6
at140 May 2019 #8
cstanleytech May 2019 #5
at140 May 2019 #7

Response to yaesu (Original post)

Wed May 22, 2019, 01:29 PM

1. We import 4 times more from China

Than China imports from us. China is going to lose trade war.

And so will Japan, India, Mexico etc.
Country with most to lose in a trade war is always the one who exports more than they import.

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Response to at140 (Reply #1)

Wed May 22, 2019, 01:34 PM

2. That is why they are talking old school sacrifice & they have a lot more practice at that than we do

The US economy is much, much more fragile & they know it. We will cave before they do, I have no doubt.

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Response to yaesu (Reply #2)

Wed May 22, 2019, 01:36 PM

3. You are right about caving

Americans in general lack patience, that's for sure.

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Response to at140 (Reply #1)

Wed May 22, 2019, 01:58 PM

4. China has a few levers to pull.

China supplies 80% of the rare earth the US uses for technology. Xi just toured a rare earth mine a day or two ago.

Not to mention the $1.1 trillion in US debt China holds, if Xi wants to go nuclear.

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Response to Eugene (Reply #4)

Wed May 22, 2019, 02:33 PM

6. They probably will not pull the debt trigger much if at all because if we go under it would probably

impact them even more than the stupid Republican trade war is currently.

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Response to Eugene (Reply #4)

Wed May 22, 2019, 06:56 PM

8. Xi can not get too confrontational

for the simple reason, millions of manufacturing jobs depend on exports to USA. You are right about the rare earth monopoly, however China can ill afford loss millions of manufacturing jobs.

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Response to at140 (Reply #1)

Wed May 22, 2019, 02:31 PM

5. Agreed but regardless the way Trump is ham handling this is still stupid as shit.

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Response to cstanleytech (Reply #5)

Wed May 22, 2019, 06:47 PM

7. I think time will confirm

your prognosis of his handling.

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