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Is it possible to replace Chinese imports? [Copy link] 中文

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Post time 2018-8-8 09:52:44 |Display all floors
(CGTN) Monday marks the China-US trade war one month in. Exactly one month ago, both China and the US put into effect their tariff lists against each other’s imports.
It may seem childish to engage in “tit-for-tat,” but companies, especially in manufacturing, are actively trying to avoid any potential damage. According to China’s National Bureau of Statistics, the country's PMI is seeing decreases for two consecutive months – a foreboding sign for the future of the Sino-American trade.

A person holds slogan at Trump’s “Make America Great Again (MAGA)” rally, August 4, 2018. [Photo: VCG]

At the cost of such trouble and potentially stirring up the entire global trade environment and supply chain, US President Donald Trump vows to replace foreign imports with domestic production. However, is “Made-in-America” really achievable?

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Post time 2018-8-8 09:53:04 |Display all floors

Liao Qun, chief economist of China Citic Bank. [Screenshot: CGTN]

Liao Qun, chief economist of China Citic Bank, points out that the US economy has already been upgraded from a manufacturing economy to a service economy. In terms of economic development, there is no turning back.
“Manufacturing requires workers, even with automation,” Liao said, noting that the obstacles ahead for President Trump is clear.
Developing countries not only enjoy comparatively cheaper labor, but since they have been focusing on manufacturing for such a long time, the disciplined workers are simply more suited and used to such work. “In the US, because the medium and low-end manufacturing sector has been hollowing out for years, even lower-class workers might not meet such requirements.”
Once formed, the “trade-war” environment or mentality may not go away anytime soon. Companies from every country would face unprecedented uncertainties and a shakeup of the global supply chain. It is not clear what exactly President Trump is trying to do, but if one of Trump's goals is to replace Chinese imports with domestic production, it might be not so easy or straightforward to achieve.

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Post time 2018-8-8 10:57:49 |Display all floors
Since the US has already been in the catbird seat in hi-tech sector, it should have used the plight of the blue-collar workers as an impetus for restructuring its economy, upgrading its education infrastructure, encouraging job transfer into service sector, to stay ahead of the curve and atop the global value chain.

However, the current administration just chooses another path, prioritizing votes over long-term development outlook by clawing back manufacturing jobs previously exported overseas, to appeal to a large swath of the electorate, and this is bad for America, but offer an opportunity for other countries to catch up.

On
Believe it or not, it's true.

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Post time 2018-8-8 17:00:49 |Display all floors
The trade deficit is US problem, not upgrading skills, jobs are lost to robots, not to China.  Deficit will not end even if US hits China with more tariffs because American consumers will still buy from cheaper sources like Vietnam.

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Post time 2018-8-8 21:27:26 |Display all floors
pnp Post time: 2018-8-8 17:00
The trade deficit is US problem, not upgrading skills, jobs are lost to robots, not to China.  Defic ...

Simple remedy;  why don't they produce their own stuff?

However, most folks are aware that it's the equalization why uncle Sam is getting scared.
   The Middle Kingdom is close to overtake them and they don't know what to do...

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Post time 2018-8-8 22:53:19 |Display all floors
emanreus Post time: 2018-8-8 14:27
Simple remedy;  why don't they produce their own stuff?

However, most folks are aware that it's  ...

Round Up is good for developing the mind

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Post time 2018-8-8 22:53:46 |Display all floors
pnp Post time: 2018-8-8 10:00
The trade deficit is US problem, not upgrading skills, jobs are lost to robots, not to China.  Defic ...

Round Up is good for developing the mind

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