Posted on 07/06/2018 3:40:36 PM PDT by Mariner
Has a trade war started? The stock market doesn’t suggest that a full-scale trade fight between China and the U.S. has erupted, but a tweet from Ray Dalio, founder of hedge fund Bridgewater Associates, implies otherwise.
Friday afternoon, Dalio tweeted: “Today is the first day of the war with China.”
Today is the first day of the war with China. — Ray Dalio (@RayDalio) July 6, 2018
The tweet from the founder of the world’s largest hedge fund, which manages some $160 billion, comes after the U.S. slapped levies on $34 billion of 25% on China’s exports at midnight, and President Donald Trump threatened further action.
In response, Beijing issued in-kind tariffs on 545 items, including cash crops and cars, intensifying a long-simmering dispute between the world’s largest economic superpowers, which threatens to roil global economies.
China’s Commerce Ministry said the U.S. is “launching the largest trade war in economic history to date.”
(Excerpt) Read more at marketwatch.com ...
But the pain here will be less than EVERYWHERE ELSE.
In the long, even medium term (1-2 years) things will be much, much better in the US than any time in the last 30 years.
I agree. This is a much needed and healthy endeavor for the US. Renegotiate.
Sounds like this hedge fund guy is shorting the market.
I predict less than a month...PDJT will give opportunities for China’s dictator to save face...MSM and China will underestimate PDJT.
When MSM stops featuring it, you know PDJT has won.
China is going to pay through the nose. They have no idea just how tough Americans will be.
The war has been going on for decades. We just never fought back.
Well, long overdue. China needs us more than we need them.
These ‘Hedge Fund’ a-holes need to be strung up, or given a necklace.
Bullseye.
They didn’t get 25 to 65 percent tariffs to our 0 to 2.5% because of a peace initiative.
Bingo.
Unless one is just starting out, what do you really need? I’m using my Dad’s hand and power tools, still using the Pyrex and franciscan dinnerware my parents got as wedding presents in 1957.
Instead, President Trump is working to stop the de industrialization of America incentives a renaissance in American manufacturing
Our so called “Trade Partners” are actually countries with export driven economies highly dependent upon maintaining huge trade surpluses with the US.
Any attempts by these countries to “retaliate” with conventional wisdom trade sanctions actually work to accomplish Trump's goals.
There will be some pain as we move back to a higher wage, high skill manufacturing base from it's current Obama Era low wage, unskilled gig jobs economy floated by cheap imported junk from China and cheap labor from exploited, underground economy illegal alien labor.
Yes this is not some direct military-combative WWIII, but strikes at the root of what the real competition with China is about and it’s fair game.
I have always suspected that Ray owes more of the success of his fund to his dealings with the Chinese stock market, etc., than he has let on. IIRC he helped them to set it up and he’s so secretive about his fund that it wouldn’t surprise me if there were more to it than that to this day. He also hired Comey for millions to be his head of security.
Donald Trump has been engaged in economic warfare with America’s enemies since his first day in office.
It’s the secret of his many successes.
Dramatizing!
Some things get more expensive. Some cheaper. Bottom line: jobs return. No crisis, no catastrophe.
BTTT
a real reset
“Well, long overdue. China needs us more than we need them”.
When the Chinese made goods are no longer being sold at Walmart, China will roll over. Not certain what the percentage of goods that Walmart sells are made in China but enough to make the ChiComs start whinning.
“from it’s current Obama Era low wage,”
Obama effed up a lot of stuff.
But it’s REPUBLICANS in Congress that own this one.
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