Let me first state that I had spent the vast majority of my working life in the Orient. There, that’s out of the way. China is stating this for home consumption. The cultural need to “save face” is very real.
Also, very real is the fact that the Chinese people are hurting on multiple fronts. The price of agri products have sky rocketed since China drastically reduced US imports to they to hurt President Trump with his mid-western base. That failed.
The presidents targeted tariffs had a negative effect on their manufacturing sector and supply chain sector. Many companies have or are actively finalizing plans to relocate.
The swine virus sweeping all across China has devastated their primary protein source. Fortunate timing for Trump.
The HK unrest is causing major headaches for their leadership. No sign of that subsiding anytime soon.
Their devaluing their currency didn’t have the affect they hoped for in countering Trumps tariffs and instead has hurt them financially. Their export sector is screaming bloody murder as they are getting killed in this trade war.
As Trump has known all along we hold the Trump cards. It’s just a matter of time before they capitulate. But, he also knows he must allow them to do so in such a manner as to be able to save face.
Interesting post... thanks.
Very good info sir. Thanks !