A reminder that CCP China has been "at war" with the USA for some time now, on every front possible. Political; international relations; espionage(stealing secrets and patent rights); ideological, especially with communist infiltration to our education systems; military weapons and buildup - sabre rattling towards Taiwan, etc.; and especially
economics.
The last thing the USA should do is feed CCP China's coffers~treasury.
Second Trump Term May Push China’s Economy Over the Cliff
....
The Chinese economy is in far worse shape than it was in 2016, and a second Trump term could push it over the edge.
When news broke that former President Donald Trump had won reelection,
stock markets rallied, the
dollar rose, the
yuan fell, and the Chinese Communist Party (CCP) likely despaired.
The trade war Trump launched against China in his first term slowed China’s growth, weakened its currency, and drove up its debt. However, China managed to withstand the first round of a Trump battle thanks to an otherwise strong economy.
In his second term, Trump has vowed to take an even tougher stance on China, reappointing
Robert Lighthizer—the mastermind behind the original China trade war—as the new U.S. Trade Representative. Lighthizer,
known for his pivotal work in quantifying the CCP’s intellectual property theft at between $225 billion and $600 billion annually, has long recommended that the United States decouple from China, a stance
he reiterated in his 2023 book, “
No Trade Is Free.” Since leaving his previous role in government, Lighthizer has worked at the Center for American Trade at the
America First Policy Institute, a think tank that advocates holding China accountable for unfair trade practices, intellectual property theft, and environmental violations.
After four years of Trump tariffs,
four years of Biden tariffs, prolonged COVID-19 lockdowns, and steady “
de-risking“ by European and G7 countries,
the Chinese economy remains in the doldrums. Youth unemployment was nearly 19 percent in August, close to the record high of 21.3 percent in 2023. The property sector continues to decline, with
new home prices dropping, and local government debt, according to the International Monetary Fund (IMF) estimates, now stands at $8.4 trillion.
At the end of 2023, the IMF estimated
China’s total government debt to be $20.7 trillion, while
corporate debt was roughly 350 trillion yuan, or
$48.76 trillion.
With China’s gross domestic product (GDP) at just $18.2 trillion, the nation’s debt is more than three times the size of its economy.
....
In his first term, Trump imposed tariffs of up to 25 percent on Chinese products. This time, he has pledged tariffs as high as 60 percent on Chinese imports, a move that could severely cripple China’s export sector. ... The Trump–Lighthizer duo could, in effect, decimate China’s manufacturing sector, stifling exports and driving up unemployment.
....
Xi is now up against a reinvigorated Trump, the original China hawk, backed by a favorable Congress and a U.S. populace with a record 81 percent unfavorable view of China. Americans are far more likely to support a trade war now, and with China’s weakened economy, a renewed trade war could deliver a massive blow to Beijing.
...
www.theepochtimes.com
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The object of war is a better peace.
You don't win by pulling your punches.
