iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,351 Blog Posts

China Says Trade Talks Failed Due to America’s “Bullying Behavior”

So much winning. The Art of the Deal.

This is how you get shit done, when you don’t want to get shit done.

President Trump and the United States escalated trade talks with “bullying behavior” and were the reason why they fell apart, a spokesperson for the Chinese Ministry of Commerce said in a press conference, according to state-run Chinese news source Xinhua.

“The two sides had open and constructive communication during the 11th round of the China-U.S. high-level economic and trade consultations,” spokesperson Gao Feng said.“However, it is regrettable that the U.S. side unilaterally escalated trade disputes, which resulted in severe negotiating setbacks.”

“China always believes that raising tariffs is not a solution to the trade frictions,” said Feng, however, China will be forced to take necessary countermeasures, he said.

“We urge the U.S. side to correct wrongdoings as soon as possible to avoid causing heavier damages to businesses and consumers in both countries and dragging down the global economy,” Gao said.

Good luck with that Gao. Trump is gonna read this shit and Tweet something awful towards you in 3,2,1…

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15 comments

  1. one-eighty

    So much ignorance. The Art of the Steal.

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  2. WrongView

    Your POTUS.

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  3. ericbakerbruce

    China has much more to lose. Yes, Trump is being belligerent and his actions will temporarily be negative to global growth. But he will get his Fed rate cuts and his recent retardedness (sorry mental people) guarantees it. Xi is being backed into a corner and Trump is coming at him like a crazed lunatic (partially by not enforcing tariffs on the Eurofag automakers).

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  4. juice

    America does bullying behavior!? Since when!? 😛 :D:o: 🙂 😉

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  5. Dr. Fly

    BUYERS CANNOT BE STOPPED!

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  6. dae42

    Xi is on his heels. What a wuss.

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  7. og

    Need a Friday pump so I can go all cash into the weekend.

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  8. jbandy

    Is it too “easy” to just short China ETFs? It has been proven, if anyone is going to suffer in a trade war, it will be China. Seems like an excellent play to short China, Long US equities.

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  9. awanka

    Both sides lie so much I don’t know who to believe, Mr. Fly. China does a lot of shady shit with currency manipulation and protected industries though, so I’m glad someone is willing to call them out on it.

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  10. numbersgame

    China is way out of their depth here. Trump is utterly unpredictable, and China still deals with him like any other President. Trump just wants to win – at any cost. He doesn’t give a sh!t about collateral damage. this is a President that seprated immigrant children from their mothers – and didn’t even bother to keep track of them! What’s the Chinese goal here: maybe Trump will apologize and ask for forgiveness?

    Also, the US has already come out hard and said that China is backtracking on a *written* agreement framework, so its unlikely that the world will balem the US on this one, either. Maybe Iran and Venezuala can talk about US bullying, but China? Fugedaboutit

    How’s the crypto-up-30%-in-1-week-so-I’m-going-to-buy-them working out?

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  11. tradingnymph

    China is really going to mess with USA by letting the USD/CNY go over 7.0. China is the Art of the Deal..we are amateurs. China has NEVER wanted a trade deal, they NEED to slow their economy down hard and the best way is to make USA the Villain of why their Govt can’t stimulate the world and their economy anymore. They get to pay off debt with cheap Yuan, their housing market cools, they get to develop their IT and it will be great. Oh and they get to wreak the USA economy by making our Dollar stronger and drop demand for US Cars and Copper…all win/win for them…suckers.

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    • ericbakerbruce
      ericbakerbruce

      So sorry, you berry wrong nympho. Everyone thinks Trump is so out of his element here but he’s winning big time. With stock market at these levels, he is playing with house money. He will get what he wants. Fuck the Chinese and the fact that they haven’t backed down from anything and anyone in the past 8,000 years. Xi is on his knees.

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    • numbersgame

      China is an Exporting economy. A weaker yaun will help exporters, so if anything that will accelerate, not slow down the Chinese economy. Also, the US is a consumption economy, so a stronger dollar has a more balanced effect on its economy (it increaes purcahsing poer of consumers).

      “They get to pay off debt with cheap Yuan”
      I think that most of China’s debt is internal: SOE and local/regional gov’t debt owed to the federal governemetn. The value of the Yuan doesn’t affect this.

      Also, when it comes to the essentials: energy and food, China is a net importer while the US is a net exporter. In other words, China NEEDS trade, the US doesn’t.

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