This article was originally published by Tyler Durden at ZeroHedge.
While market mood has shifted diametrically from yesterday, with stocks sharply higher on Tuesday following what has widely been interpreted as conciliatory comments from both president Trump and various members of China’s ruling elite, one would be hard pressed to find any de-escalation amid the Chinese press commentaries written in the aftermath of the latest escalation in trade war between the US and China.
In a series of editorials and op-ed articles published Monday and Tuesday, Chinese state media slammed what it labeled the Trump administration’s “greed and arrogance“, called for a “people’s war” targeting the US “with precision” as China begins a “fight for a new world.”
“The most important thing is that in the China-US trade war, the US side fights for greed and arrogance … and morale will break at any point. The Chinese side is fighting back to protect its legitimate interests,” the nationalist, state-owned Global Times tabloid wrote.
Urging indirect boycott of US goods and services, the editorial slammed Trump and suggested a nation-wide uprising against the US aggression: “The trade war in the US is the creation of one person and one administration, but it affects that country’s entire population. In China, the entire country and all its people are being threatened. For us, this is a real ‘people’s war.'” Whether this means a renewed collapse in Chinese iPhone sales remains to be seen – for confirmation, watch for a new guidance cut from Apple in the coming days.
The Global Times also accused the Trump administration of misleading Americans about the victims of US tariffs. It singled out Larry Kudlow’s interview on “Fox News Sunday” in which Trump’s top economic advisor said that US consumers would also suffer from the trade war, contradicting Trump’s claim that China would foot the bill.
More than just a retaliation to “unprovoked” US aggression, China now sees its response as a crusade against the western style of life. During a prime time broadcast on Monday, CNN reported that the state broadcaster CCTV also aired a statement saying that China would “fight for a new world.”
“As President Xi Jinping pointed out, the Chinese economy is a sea, not a small pond,” anchor Kang Hui said on his 7 p.m. news show. “A rainstorm can destroy a small pond, but it cannot harm the sea. After numerous storms, the sea is still there.” Hui concluded echoing a popular refrain, that “China…doesn’t want to fight, but it is not afraid to fight.”
The Global Times also mocked Trump’s suggestion that the tariff hike would “force companies to leave China”, stating that “the consumption capabilities and market consumption potential driven by demand are what foreign companies value most when they come to China.”
As a result, “the White House might as well try to call on American companies such as General Motors, Ford, Apple, McDonald’s and Coca-Cola to leave China. Will any of them follow?”
The editorial also hinted that more retaliations are coming, saying that “China has plenty of countermeasures” and telling its readers that “the US tariff moves are very much like spraying bullets. They will cause a lot of self-inflicted harm and are hard to sustain in the long term. China, on the other hand, is going to aim with precision, trying to avoid hurting itself.”
In an amusing twist, China then accused Trump of spinning and “seeking to beautify the trade war”, while Beijing has been “blunt about the difficulties and losses that the trade war will bring to the Chinese economy.”
The conclusion: “the Chinese side is obviously more realistic while the US is falsifying. This will, to a large extent, influence how the two countries digest the trade war impacts.”
Whatever side of the ideological divide one finds themselves, this is hardly the rhetoric that will allow China to reach a quick and painless compromise.
I think the actual Israeli drone attack on Saudi oil fields trumps this fake news story of “na-na, na, na-na children’s playground story.
They floated the idea of a National Sales Tax, and other things, but there is too much opposition.
So, call it a tarrif and it is somewhat accepted. Who really pays it? The consumer.
So, same as a sales tax.
Just more money for the government, and higher prices for the people. This creates inflation, which is exactly what they want. Inflation means people demand more wages, which means more income taxes collected, to keep the game going longer. Gonna need that money to pay the interest on the debt.
Same with minimum wage increases. Causes inflation, and more taxes collected.p
Very wise and on the money!
Inflation Uber alles.
We went full Weimar back in 2008 and they masked it by printing record amounts of money, not just in the US, but all over the world, and particularly Chi-Naah.
If you ever get the chance to visit China you will see how this plays out in reality. What you see is this: grand thoroughfares with cookie-cutter bank building after another stretching for miles. Each is required to staff a vast army of ‘folks’ who process all this debt and credit. On top of that, you will see public housing apartment buildings and ghost cities all over the place. And vast department stores staffed by people but very few of anyone buying things. That’s the Ponzi.
But, who built this edifice to financialisation? The United States of America. Hate on the Chinese all you want, but what you are looking at is a mirror reflecting back your own greed.
Wow Frank, your last sentence comes to the opposite conclusion than the rest of the post leads to.
Yes, America profited off the Chinese Ponzi scheme and it was the Chinese that were taken to the bank. We didn’t make them do that. Their Commie stupidity made them. Now THEY have the pretend cities. Pretend jobs. Pretend economy. WE have the money.
Sounds like a win to me. I’m good with it.
We’ll take back Ford, GM, and Apple. China can keep McCancer and Coke.
All kidding on the side, China really wants to fight for a “New World” (Order)? How’s about an order of fries?
China has a huge population. This is true. And with all due respect, China needs to become a Nation of free men working for the best interests of the Chinese. And leave our little Country alone. Stop coming here. We don’t need more diversity. We are a white nationalist Christian Country that made the monumental mistake of allowing immigration from non-Christian non-white Countries including China. We’re sorry for involving you in our affairs. Now, please, get lost and stop calling.
Sure, that’s very Christian of America to slaughter people in far away lands while having zero respect at home for its own citizens whose Constitutional freedoms are micro managed every which way but loose.
… Beijing has been “blunt about the difficulties and losses that the trade war will bring to the Chinese economy.”
“… we look at the urban-rural development gap…
Sex toys are not the first things that spring to mind when visiting Yucheng, a sleepy, riverside town in the Yangtze River Delta, about an hour’s drive from Shanghai, best known for its grapes, mulberry trees and turtle ponds.
But the town government, which wants to turn it into a one-stop market for adult products, signed a 10 billion yuan (US$1.5 billion) deal with a Chinese company this summer to develop a “Happy Town” that will include a sex toy shopping street, a sex exhibition centre and an ‘adult-only’ hotel.
It is a dream partly fanned by a central government plan to create a thousand “charming towns” across the country…
Why are these people accusing us of decadence, while selling us dangerous analogs of street drugs.
China is talking about fighting the US, for US Dollars.
“One Hung-Lo is barking up the wrong tree.
So is his wife Fat Ho and his daughter Lo Fat.
Everything is a “People’s” something or another. Gotta keep the worker bees on task. Don’t look around too much “people”, you might notice something you shouldn’t.
China looks like they took those crappy science fiction utopia movies as training films. “Demolition Man” with Sandra Bullock comes to mind. Damn what a miserable bunch. Thank GOD I was born an American. Warts and all.
Remember Boys and Girls, China is a Communist country. In 2019 that means that they are really not all that bright. They WILL intercourse it up. Just a matter of time.
No matter how you look at it Americans are going down with the sinking ship that is US aggression. What a sick nation run by mentally sick bastards.
The Chinese need to be very careful what they wish for. They will eventually get it.
Si’, then slanty eyed MFk’rs best keep on wishing!
Darn right! We will sic the millenials on them and they will all DIE (laughing).
about all they have is a lot of infantry and they cant march over here-end of story
Though I have never lived there, I learned Mandarin and the Chinese culture many many years ago.
They have a very different view of the world than “western” people do. The printed character, a rectangle with a vertical line thru it meaning “center” 中, is all you need to remember. China believes it is the center of the universe. Their whole history, culture, and being is dedicated to this end. They are very racist. “Zhong Hua Ren” pronounced “Jung wa run” is literally, center people. “Meg wa run” is everybody else outside the center. I’m taking liberties here to prove a point, if you are fluent in Chinese and want to correct me, My Mandarin is rusty.
Due to where I live a significant number of people are of Chinese decent. A very good friend of mine and his wife both born in China, had decided to adopt. Rather than adopt a local ethnic Chinese baby, They went to the expense of going to China and adopting a Chinese born baby. It had to be born in China! BTW the beautiful little girl is half white, but she is Chinese by birth.
My point is you can’t predict Chinese actions using Western value systems. You have to learn what is important to them and what is important to them is not the same things that are important to you and me.
The Chinese are not racist. There is no such thing. They are ethnocentric and nationalist. Very nationalist. They don’t permit immigration of anyone who is not Han Chinese.
I’ll beg to differ on you on Chinese not being racist. But I agree with your other remarks. BTW the Han genetically make up 95% or so of the Chinese population. I’m not black, but Chinese and Asian Indians really, really don’t like black people. They tolerate us white people, barely.
Rellik, what you say is true about MAINLAND Chinese but I’ve had a totally different experience with Chinese from TAIWAN, WHO ARE NOT COMMUNIST. Totally different world between Taiwan and the mainland.
So true: their racial world view goes like this: Japanese and Han Chinese are top. The most intelligent. Then comes Northern Europeans and Germans. Then Jews. Then other Asians. After that Indians. At the very bottom is blacks, with American blacks seen as the low of the low.
I remember a friend’s Asian dad would drive his kids through the black neighbourhoods whenever the kids wouldn’t do their homework. He would point out of the window and just say “look what you become if you no go school. Or work hard.” That always did the trick: the sight of morons with mouth grills and do rags hustling while obese, ape-like women shuffled to the grocery store with their food stamps was enough.
not racist, very fckn ravist
Him, where the feck have you been…hiding out with bre’er rabbit in a patch somewhere? These people hate us. These “Stonefaced yellow bastuds would like to erase us from this planet. But dude you just keep on loving them and see what you get.
It’s perfectly ok to be racist. It’s your right to be racist. Imagine if there were no racism and everyone just let mudfucks run amok and ruin things, errr wait, that;s what has been happening. See what I mean? The truth is the truth whether you label it racist or not. If you hate the truth, your a moron of the highest order. Man is NOT created equal, it should be obvious, to non morons….
“My point is you can’t predict Chinese actions”
With respect rellik – sure you can. They are absolutely predictable. Hell, you just told us how. Remember when we were “turning Japanese” in the ’80’s? How did that turn out? We need to get over being all gaga about Orientals. There is a reason why the West has risen to the top. We are flexible. We screw up but we learn. The East is rigid and concerned with social stability. A stable system doesn’t advance. The Chinese are insular and have never had an outward focus. The West will fall some day but it will be from internal rot. It most assuredly won’t be from Eastern aggression.
The U.S. consumer is paying for a rapid expansion of the Red Chinese military and Navy. China wants this century to be a Chinese Century as opposed to the last being an American one.
War IS coming, Russia/Iran/Turkey/Pakistan/ China/North Korea etc. vs the U.S./India/Israel/Saudi Arabia/ etc. Plus we are also on track for a Civil War, Red vs Blue states.
2020 is going to be VERY-VERY interesting !
Seminole I agree 100%, this is something I have never been able to understand. Why do people cry so much when we slow or curtail trade with China, when all we are doing is developing the enemies Military. What do they buy from us, coal, timber and Ag products, necessities of life, and what do we buy from them, junk that we don’t even need. I saw on the news where it was going to cost the average American 737 dollars a year if they don’t get this tariff thing straightened out. Sounds like a cheap price to pay to stop their Military growth. When the U.S. opened up trade with China it had nothing to do with helping the average America consumer and everything to do with opening up a 1 billion plus economy for large corporations. Trekker Out
“opening up a 1 billion plus economy for large corporations. ”
Your heart is right but in the wrong place – so to speak. The business of America is business, they used to say. Big business is who pays your salary, so to speak. It is the stupid Libtards who have conditioned much of America to think that business is evil. Idiots.
They Chinese buy quite a lot from us and aircraft are just the point. If they don’t buy Boeings from us they will develop their own. Bad dudu. This is also why GM and Ford are establishing manufacturing facilities in China. Look dude, the gooks are going to have cars. They can drive Detroit’s finest or Fiats or some Chink version of the Lada. Which one do you want?
I think that talk of social utilitarianism is for mass consumption, like the lies told to your earthy people raising ducks and goldfish, to keep them complicit.
If you had literally experienced that philosophical revolution, none of your citizenry would tolerate the coercive conditions of social labor, under false hopes of moving to a pleasure district.
You (mister clown) Sir, are an Idiot with a capital E and have totally missed the lessons of the 20th Century – The American Century.
Are you a college professor?
I was just talking about China, or was I?
At least, they admit to their communism.
(I have literally taught courses, with transferable, college credits.)
“The most important thing is that in the China-US trade war, the US side fights for greed and arrogance … and morale will break at any point. The Chinese side is fighting back to protect its legitimate interests,”
You say “greed” I say “legitimate interests” tra la la we can do this all day… how are you making the distinction there son?
China now sees its response as a crusade against the western style of life.
WELL AT LEAST THERE’S THAT.
I remember first time I went there, I was just a kid really, going to dinner with these business people, said “you know the one thing you don’t want to become? Us…”
They looked at me like I was insane (and possibly treasonous, that shit isn’t taken lightly over there if I was a citizen and talking about their government).
Well guess who was right.
Can you imagine this shit show with 4x the population and 1/3 the military?
Fuck me. Why would you want this? Every statistic pertaining to quality of life / family / overall happiness / education is IN THE TOILET here…
If greedy American company’s weren’t outsourcing American jobs to pocket a few extra bucks because the locals in those country’s will work for $2.00 a day and a bowl of rice, this wouldn’t even be an issue. Seems to me something has deliberately been trying to destroy our wealth and reduce us all to peasants for a long time now. We hardly have any industry or manufacturing left in the U.S.A. .
Your are correct Greedy American Corporations are the cause of many of our problems. And the current Diviseness. The only ones winning from this administration are the 1 percenters and big corporations who when given a chance to help their workers chose instead to offer share buybacks and pad their stockholders pockets. Today its China tomorrow its another country American businesses are a cancer they will chase profits to the detriment of the common folks. China already had a plan for this they are in it for the long run.
Everyone is fighting for a “new world’ yet we remain stubbornly stuck in the old one with all the fighting.
You’re spot on there Jim.
RockRoller hit the nail on the head the main problem is and will continue to be corporatio s like love cheap labor, and they will continually go forth to seek cheap labor just read an article about Vietnam taking up the slack from this trade war with China. The thing is that this administration has not thought this trade war out too good in the sense that the Chinese already are shifting to Plan B, Question what is our plan B? So far inflation and the stock Market is still going strong however no one in the financial markets including analyst really knows why it’s still rolling. I am pretty sure we are in a stock and inflation bubble and may soon fall into a recession. Also provoking Iran isn’t too good of an Idea Iran is Not iraq and those dudes are highly motivated. As for WWIII yes its coming look at the parallels of 100 years ago and look at today populism is marching us straight to war. If China and Russia team up we be truly screwed.